Elanco Animal Health is to restructure its global operations following the completion of its $6.9 billion acquisition of Bayer Animal Health in August.
The Indiana-headquartered company plans to shed more than 900 jobs across 40 countries, primarily in sales and marketing, but also in R&D; manufacturing and quality; and back office support. “These actions begin to reduce duplication, drive efficiency and optimise the company’s footprint across geographies, particularly Basel, Switzerland,” says Elanco.
“The team has rapidly applied our historic integration experience to move with speed and decisiveness and capture initial synergies even during the continued challenges created by the COVID-19 pandemic,” notes Elanco president and chief executive Jeff Simmons. “After our early view of the combined business, we have full confidence in delivering $275 million to $300 million in synergies, with the first two-thirds coming in the first 30 months.”