Pfizer (NYSE: PFE), Wyeth (NYSE: WYE) Selling Animal Health Assets to Boehringer

Pfizer Inc. (NYSE: PFE) and Wyeth (NYSE; WYE) said Monday they will sell certain animal health product assets to Boehringer Ingelheim for an undisclosed amount, according to Associated Press.

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The companies are divesting certain assets to meet a series of antitrust and regulatory marks so they can complete a buyout deal. Pfizer is buying Wyeth for $68 billion.

Under the deal, Boehringer Ingelheim will acquire products, and research and manufacturing facilities located in Fort Dodge, Iowa. It will also receive related assets and intellectual property, primarily from Wyeth's Fort Dodge Animal Health portfolio in the U.S. and Canada. The products include cattle and small animal vaccines. Boehringer said the deal significantly increases the size of its companion animal and cattle portfolios.

Boehringer Ingelheim also intends to acquire certain animal health assets in other areas, including companion animal vaccines in Australia and cattle vaccines in the European Union and South Africa.

Pfizer expects to obtain regulatory approvals for its Wyeth buyout and close the deal early in the fourth quarter.

Shares of Pfizer rose 13 cents to close at $16.64 during the regular trading session. Shares of Wyeth climbed 27 cents to close at $48.28.

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