The European Commission (EC) has approved Elanco’s pending acquisition of the Bayer Animal Health business unit. Subject to other regional market approvals, the $7.6 billion deal announced in August 2019 is expected to complete in August this year.
Elanco has divested assets worth $120 – $140 million of annual revenue to secure the deal – EC approval required the sales of the Osurnia canine treatment, sold to Dechra Pharmaceuticals; the Vecoxan coccidiostat for calves and lambs now owned by Merck/MSD and the Drontal and Profender dog and cat parasiticide ranges sold to Vetoquinol.
“Approval from the Commission is an important milestone toward the completion of our acquisition of Bayer Animal Health,” said Jeff Simmons, president and chief executive of Elanco. “We look forward to turning our full attention to delivering innovation and an expanded portfolio of solutions for farmers, veterinarians and pet owners across the globe. The recent months have only underscored the critical work our farmers do in delivering meat, milk, fish and eggs, and the importance of providing pet owners and veterinarians with a variety of solutions in multiple channels from telemedicine and e-commerce to direct home delivery.”
Elanco completed its separation from parent Eli Lilly and Co in March 2019, and now trades as an independent business.