Elanco, the animal health division of Eli Lilly and Company, has 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. 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. “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."
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.