Heska Corporation, a provider of veterinary diagnostic and specialty products, has announced the sale of certain non-core assets useful for the production of both bovine and feline vaccines to Elanco Animal Health, a division of Eli Lilly and Company.
Heska does not anticipate any change in its current bovine and feline vaccine production at its wholly owned facility in Des Moines, Iowa, as a result of the agreement with Elanco. Financial terms were not disclosed.
"We are pleased to announce our first formal relationship with Elanco, the fourth-largest animal health company in the world," said Michael McGinley, Heska's president, pharmaceuticals and biologicals. "Elanco has demonstrated their commitment to establishing a strong position in animal vaccines.
"Heska had a limited direct involvement in the market segments covered under this agreement," said McGinley. "The sale of these assets will strengthen our balance sheet and allow us to invest in areas more closely aligned with our strategic focus as well as offer potential future opportunities for our other vaccines, pharmaceuticals and products business segment."