Monheim, Germany/Greensboro, NC, USA, November 15, 2010 – Bayer today 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.”
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.”
Piedmont Pharmaceuticals LLC (www.piedmontpharma.com) is a Greensboro, N.C.-based specialty pharmaceutical company focused on human and animal health therapeutics with expertise in parasitology and drug delivery systems. The company’s currently commercialized products and advanced development program leverage unique modes of action and proprietary delivery technologies. Piedmont Pharmaceuticals develops new formulations, uses and delivery vehicles for known active pharmaceutical compounds for human and companion animal health markets.
About Bayer HealthCare
The Bayer Group is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer HealthCare, a subsidiary of Bayer AG with annual sales of more than EUR 15.9 billion (2009), is one of the world’s leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Consumer Care, Medical Care and Pharmaceuticals divisions. Bayer HealthCare’s aim is to discover and manufacture products that will improve human and animal health worldwide. Bayer HealthCare has a global workforce of 53.400 employees and is represented in more than 100 countries. Find more information at www.bayerhealthcare.com.
With a turnover of EUR977 million (2009) Bayer HealthCare’s Animal Health Division is one of the world’s leading manufacturers of veterinary drugs. The division manufactures and markets more than 100 different veterinary drugs and care products for livestock and companion animals.
This news release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
Name: Kathrin Statz
Phone: +49 2173 380-4019
Name: Bryan Iams
Phone: (412) 777-5200
Company: Bayer Corporation