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ELANCO TO ACQUIRE JANSSEN PHARMACEUTICAL'S ANIMAL HEALTH BUSINESS
Mar. 25, 2011
Source: Joint company news release
Elanco, the animal health division of Eli Lilly and Company (NYSE:LLY), today announced that Lilly has made an irrevocable, unconditional offer to acquire the animal health business of Janssen Pharmaceutica NV, a Johnson & Johnson Company. The two companies have notified the appropriate European works councils of their intentions. Headquartered in Beerse, Belgium, Janssen's animal health business is primarily European-focused, targeting disease segments in companion animals and livestock, with special emphasis on swine and poultry.
Upon deal closing, Elanco would obtain a portfolio of about 50 marketed animal health products. As part of the proposed agreement, Janssen animal health employees solely dedicated to the animal health business will transfer to Elanco. No manufacturing facilities would be included in the transaction. Closing of the transaction is contingent upon clearance from European regulatory authorities and is subject to other customary closing conditions. No other terms of the transaction were disclosed.
"The addition of Janssen's animal health business will strongly support a number of strategic growth priorities for Elanco, while providing synergies with our current operations" said Jeff Simmons, Lilly senior vice president and president of Elanco. "Through this transaction, we intend to further expand our European presence, bolster our growing portfolio of companion animal medicines and diversify our food animal portfolio with new swine and poultry products. We are excited about these new opportunities to improve animal health, food safety and food animal production while delivering greater value to our customers."
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