The FINANCIAL — Bayer on November 15 announced the acquisition of the innovative chewable application technology from Piedmont Pharmaceuticals (Greensboro, NC).
In addition Bayer will get access to two products in late stage development at Piedmont. Both parties agreed that the terms of the agreement will not be disclosed.
Dr Jean-Luc Lowinski, Head of Bayer Animal Health, said that they were very pleased to sign the agreement with Piedmont Pharmaceuticals. “With this platform technology and access to two products already in advanced development, we will complement our internal R&D efforts and expand our portfolio of offerings to veterinarians and to our customers. This technology will enable us to provide a whole new range of products to improve companion animal health and well being.”
According to Bayer, the innovative chewable application is well received in cats and dogs and close to market approval. The formulation technology will allow easy administration of different active ingredients to the animal. First product launches for the OTC business as well as for prescription drugs are expected in a few years.
Commenting on the arrangement, Roland Johnson, Chairman and CEO of Piedmont Pharmaceuticals, welcomed the deal with Bayer. “Our team has a twenty-five year history of successfully developing new products and working collaboratively with partners. With Bayer’s global experience and reach we will be able to distribute these product innovations across the US and to other markets.”
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