Elanco finalises Novartis acquisition
Elanco, a division of Eli Lilly recently announced that it has completed the acquisition of Novartis Animal Health for approximately USD$ 5.4 billion.
The completion of this transaction is part of a comprehensive set of transactions announced last April, follows Elanco's purchase of Lohmann Animal Health earlier in 2014. The combined organisation will increase Elanco's product portfolio, expand its global commercial presence and deliver more innovation to customers.
Elanco will also have a more balanced and diversified business with revenues more evenly split between food animal and companion animal, as well as stronger geographic representation.
Jeff Simmons, senior vice president of Eli Lilly and Company and president of Elanco Animal Health says "as a top-tier animal health company, we are better positioned to help our customers respond to the changing external environment and meet increasing demands for animal protein, as well as growing desires for pet ownership."
The impact of the acquisition, which concluded 1st January 2015 will be seen in Eli Lilly's first quarter 2015 financial statement.
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