© Copyright Acquisition International 2024 - All Rights Reserved.

Article Image - Agreement to Acquire Boehringer
Posted 7th October 2016

Agreement to Acquire Boehringer

Elanco Animal Health Enters Agreement to Acquire Boehringer Ingelheim Vetmedica's U.S. Feline, Canine and Rabies Vaccines Portfolio

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Agreement to Acquire Boehringer
Image

Eight new product lines and a fully integrated manufacturing and R&D site to transfer to Elanco, adding to its growing companion animal business; subject to FTC approval and closing of BI/Sanofi asset swap

Today Elanco U.S., Inc., a subsidiary of Eli Lilly and Company, announced an agreement to acquire Boehringer Ingelheim Vetmedica, Inc.’s (BIVI) U.S. feline, canine and rabies vaccines portfolio – as well as a fully integrated manufacturing and R&D site – for $885 million, including the estimated cost of acquired inventory. The deal will diversify Elanco’s U.S. companion animal portfolio by complementing its offerings for dogs and cats.

Joining Elanco’s U.S. portfolio – which currently includes parasiticides, pain and dermatology medicines – will be routinely administered vaccines for bordetella, Lyme disease, rabies and parvovirus, among others. Also included in the agreement are several pipeline assets.

The Fort Dodge, Iowa-based facility brings capacity to manufacture the acquired products as well as R&D and testing capabilities, including an on-site veterinary research center and lab space.

“We understand the unique bond that owners share with pets and are committed to helping those pets live longer, healthier lives,” said Jeff Simmons, president, Elanco Animal Health. “With a growing portfolio addressing both prevention and treatment of disease, Elanco can partner with veterinarians and pet caregivers to do just that.”

The acquisition is anticipated to close by early 2017, subject to approval by the Federal Trade Commission and also subject to antitrust approval and closing of Boehringer Ingelheim’s asset swap transaction with Sanofi.

The sale of BIVI’s U.S. pet vaccines business and Fort Dodge manufacturing site is a required step toward the acquisition of Merial by Boehringer Ingelheim.

The current vaccine portfolio to be acquired has experienced revenue growth over the past three years, and Lilly expects the acquisition to be accretive to GAAP earnings in 2019 and to non-GAAP earnings in 2018.

John C. Lechleiter, Ph.D., Lilly’s chairman, president and chief executive officer, said that the planned acquisition of BIVI’s U.S. feline, canine and rabies vaccines portfolio reaffirms Lilly’s confidence in Elanco’s growth potential.

“As a result of the acquisition, Elanco will bring greater value to customers by providing a suite of options for preventing common diseases in companion animals,” said Lechleiter. “Coupled with our robust food animal portfolio, this addition further strengthens Elanco’s position in the global animal health business.”

Jefferies LLC is acting as the exclusive financial advisor and Paul Hastings LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are acting as legal advisors to Elanco and Lilly in this transaction.

Categories: M&A, Strategy


You Might Also Like
Read Full PostRead - Eye Icon
Considerations in Preparing for the Sale of a Privately Held Business
Strategy
19/11/2015Considerations in Preparing for the Sale of a Privately Held Business

Carl D. Roston, M&A and Private Equity Practice Co-Chair, Akerman LLP talks us through the best means to structure a business for sale.

Read Full PostRead - Eye Icon
Hogan Lovells Advise Mapfre’s Acquisition of Direct Line
Finance
30/07/2015Hogan Lovells Advise Mapfre’s Acquisition of Direct Line

Hogan Lovells Advise Mapfre's Acquisition of Direct Line

Read Full PostRead - Eye Icon
Experts in Coaching
Leadership
16/10/2017Experts in Coaching

Experts in Coaching

Read Full PostRead - Eye Icon
Pio-Tech and Huawei partner to launch Bank-BI® on Huawei Platform
Innovation
30/09/2019Pio-Tech and Huawei partner to launch Bank-BI® on Huawei Platform

Pio-Tech, a System Integrator, and Business Solutions Provider announced a new partnership with Huawei. Both parties have shared visions for collaboration to build innovation, and guide banks towards business growth.

Read Full PostRead - Eye Icon
Creating Space for Modern Business
Innovation
08/10/2021Creating Space for Modern Business

Kofisi’s work in flexible and highly tailorable office spaces has made it a household name across Africa. It has pulled far ahead of its competition through bespoke interior design, empathic understanding of contemporary work life, and keeping itself flexibl

Read Full PostRead - Eye Icon
2016 First Quarter Update – EOS Consulting
Finance
08/06/20162016 First Quarter Update – EOS Consulting

EOS Consulting provides technical and financial advisory services in the EMEA area and South America. We

Read Full PostRead - Eye Icon
How To Prepare Your Business For Sale
M&A
20/03/2024How To Prepare Your Business For Sale

As entrepreneurs, we invest not only money but years of hard work, dedication, and passion into building our businesses.

Read Full PostRead - Eye Icon
Getting IT Right
Innovation
31/08/2016Getting IT Right

3GC Group is a Value Added Reseller, systems integrator and managed services provider of converged networks IT infrastructure for mid enterprises.

Read Full PostRead - Eye Icon
Four Signs Your Business is Guilty of Wellbeing Washing and How to Avoid It
Corporate Social Responsibility
24/09/2024Four Signs Your Business is Guilty of Wellbeing Washing and How to Avoid It

It’s not rocket science that if employees feel valued and heard, they are more likely to engage in organisational goals, collaborate effectively, and do their best. High wellbeing results in workplace retention and serves as a talent magnet. However, with th



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow