Article: Teva sells vet business to Phibro.(News Watch)(Teva Pharmaceutical Industries Ltd. agreement to sell Abic Biological Laboratories Teva Ltd. to Phibro Animal Health Corp.)(Brief article)

Teva Pharmaceutical Industries Ltd. announced Oct. 15 that it has entered into a definitive agreement to sell its Israel-based veterinary business unit, Abic Biological Laboratories Teva Ltd., to Phibro Animal Health Corp. for approximately $47 million. The transaction is subject to certain conditions and is expected to close in the first quarter of 2009. Abic develops, manufactures and markets veterinary products for poultry and other large farm animals internationally, particularly in Southeast Asia, Africa, Latin America and Eastern Europe. The business operates one ...

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