Eli Lilly announces agreement to acquire Novartis Animal Health for $ 5.4 bn

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Eli Lilly announces agreement to acquire Novartis Animal Health for $ 5.4 bn
Eli Lilly and Company announced an agreement to acquire Novartis Animal Health for approximately USD 5.4 billion in an all-cash transaction that will strengthen and diversify Lilly's own animal health business, Elanco. Upon completion of the acquisition, Elanco will be the second-largest animal health company in terms of global revenue, will solidify its number two ranking in the U.S., and improve its position in Europe and the rest of the world.

With a presence in approximately 40 countries and 2013 revenue of approximately USD 1.1 billion, Novartis Animal Health is focused on developing better ways to prevent and treat diseases in pets, farm animals and farmed fish. Lilly will acquire Novartis Animal Health's nine manufacturing sites, six dedicated research and development facilities, a global commercial infrastructure with a portfolio of approximately 600 products, a robust pipeline with more than 40 projects in development, and an experienced team of more than 3,000 employees.

Dion Global Solutions Ltd.

Read more about: eli lilly, novartis, elanco, europe
Story first published: Tuesday, April 22, 2014, 14:29 [IST]
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