Eli Lilly and Co. of Indianapolis has offered to acquire Janssen Animal Health, a division of Belgium-based Janssen Pharmaceutica NV. The division, which has operations in 11 countries, focuses on targeted disease segments in companion animals and livestock with special focus on pigs and poultry.
The deal would provide European expansion and portfolio diversification for Lilly’s animal health division, Elanco, the company reported today.
“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 diversity 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.”
Under the terms of the aquisition offer, Elanco would obtain a portfolio of about 50 marketed animal health products, manufacturing licenses, distribution rights, as well as the related intellectual property and marketing authorizations.
The transaction would not include any manufacturing facilities.
The terms of the offer also include that Janssen Animal Health employees would be transferred to Elanco to support the expanded portfolio of products.
Closing of the transaction is contingent upon clearance from European regulatory authorities and is subject to other customary closing conditions, according to Lilly.
No other terms of the transaction, including financial, were disclosed.
The acceptance period for the offer will end late during the second fiscal quarter of 2011 unless extended, according to Janssen Pharmaceutica NV, a Johnson & Johnson company.