Elanco to divest EEA and UK rights to Drontal and Profender.
M2 PHARMA-February 13, 2020-Elanco to divest EEA and UK rights to Drontal and Profender
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Animal health company Elanco Animal Health Incorporated (NYSE: ELAN) said on Wednesday that it has agreed to sell the European Economic Area and UK rights to the Drontal and Profender product families from Bayer AG's (ETR:BAYN) animal health business.
French pharmaceutical company Vetoquinol SA (EURONEXT:VETO) will pay USD140m for the rights in an all-cash deal subject to customary post-closing adjustments.
Drontal and Profender are both de-wormers for dogs and cats.
Elanco stated that the sale of the rights to Drontal and Profender in the European Economic Area and the UK further advances its efforts to gain European Commission clearance for the acquisition of Bayer AG's global animal health business.
Closing of the transaction with Vetoquinol is contingent on Elanco closing its transaction with Bayer, as well as other customary closing conditions.
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|Date:||Feb 13, 2020|
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