Germany’s Bayer (BAYGn.DE) is considering whether to bid for the animal health unit of Pfizer (PFE.N) should the world’s largest drugmaker divest a business valued at as much as $16 billion. “If it is up for sale, we will have a look at it,” Bayer Chief Executive Marijn Dekkers told German business weekly WirtschaftsWoche. Animal health is a lucrative market since people in developed economies spend a lot on their pets. Moreover, in comparison to human drugs, the business is not as strictly regulated. Pfizer’s animal health business develops products for livestock and pets, and operates in more than 60 countries. It posted revenue of about $3.6 billion last year, making it one of the world’s largest in the field. Analysts put the value of the business at $10 billion to $16 billion.
