Mole Valley Farmers
Farminguk
25 August 2016 | Online since 2003
Briefing Media - FG Classified


22 April 2014 09:34:35 |Animal Health,Finance,News

Lilly to acquire Novartis Animal Health


Eli Lilly and Company today announced an agreement to acquire Novartis Animal Health for approximately $5.4 billion.
Upon completion of the acquisition, Elanco will be the second-largest animal health company in terms of global revenue, will solidify its number two ranking in the U.S., and improve its position in Europe and the rest of the world.
With a presence in approximately 40 countries and 2013 revenue of approximately $1.1 billion, Novartis Animal Health is focused on developing better ways to prevent and treat diseases in pets, farm animals and farmed fish.
Lilly will acquire Novartis Animal Health’s nine manufacturing sites, six dedicated research and development facilities, a global commercial infrastructure with a portfolio of approximately 600 products, a robust pipeline with more than 40 projects in development, and an experienced team of more than 3,000 employees.
Under the terms of the agreement, Lilly will acquire all assets of Novartis Animal Health for a total purchase price of approximately $5.4 billion, including anticipated tax benefits. Lilly plans to fund this acquisition with approximately $3.4 billion of cash-on-hand and $2.0 billion in debt to be issued.
No other financial terms of the transaction are being disclosed. The transaction is expected to close by the end of the first quarter of 2015, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, similar requirements outside the U.S., and other customary closing conditions. The transaction is not subject to any financing conditions.
John C. Lechleiter, Ph.D., Lilly’s chairman, president and chief executive officer said that the acquisition of Novartis Animal Health validates Lilly’s commitment to Elanco as a key component of Lilly’s business going forward.
“Animal health continues to represent an attractive growth opportunity for Lilly. We intend to keep Elanco and to take advantage of the substantial synergies between our animal health and human health businesses,” noted Lechleiter.
“Significant investments in our animal health business in recent years have enabled Elanco to double its revenue since 2008, leading the industry in growth. Global trends suggest continued sustained demand for animal health products in the years ahead. Through this acquisition, which moves Elanco to top-tier in the industry, we intend to create value for our shareholders by adding to our promising pipeline of innovative animal health assets, increasing sales through a larger commercial footprint, and improving efficiencies and lowering costs.”

Download

0 Comment

loginuserlogo
Name

Please enter your name


Email

Please enter your email

Please enter valid email


Comment

Please enter your comment


Post Comment

Your comment has been submitted successfully. Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment


Ireland | 25 August 2016
EU worry at lack of GM food testing in Ireland

Inspectors from the European Commission’s Directorate General for Health and Food Safety said the lack of laboratory capacity at the Public Analyst’s Laboratory (PAL), which is located in St Finbarr’s...


France | 25 August 2016
French farmers may face more pain as dry weather hits crops

French farmers can’t seem to catch a break from the weather. After deluges earlier this year decimated wheat crops, now not enough rain is threatening their corn. Many fields in the European Union’...


France | 25 August 2016
French farmers protest over low milk prices outside major milk processor

Some 400 French dairy farmers have blockaded the roads around Lactalis, the milk processor based in Laval, France, this week in protest against low milk prices. The farmers have taken over the roun...


USA | 25 August 2016
The next agriculture revolution is under our feet

At the core of agriculture is innovation. Advancements in agricultural technology throughout the past century have allowed farmers to feed a population that has grown from less than 2 billion people t...


Australia | 25 August 2016
Dairy industry goes under spotlight as Barnaby Joyce signals end to $1 milk

Scott Morrison has asked the Australian Competition and Consumer Commission to investigate the national dairy industry as the agriculture minister, Barnaby Joyce, emerged from a dairy crisis meeting d...



Trending Now

Viewed
Discussed


Top stories you may have missed
FarmingUK
FarmingUK Logo

FarmingUK

The British public are overwhelmingly in favour of keeping or strengthening...


FarmingUK
FarmingUK Logo

FarmingUK

The sustained recovery of pig prices since the spring has come at a time wh...


FarmingUK
FarmingUK Logo

FarmingUK

A World Trade Organisation (WTO) panel has declared the Russian import ban ...


FarmingUK
FarmingUK Logo

FarmingUK

A new study has linked oilseed rape crops grown from neonicotinoid-treated ...


FarmingUK
FarmingUK Logo

FarmingUK

Philip Hammond is to guarantee billions of pounds of UK government investme...


FarmingUK
FarmingUK Logo

FarmingUK

Access to the foreign labour market is 'critical', according the chief exec...


FarmingUK
FarmingUK Logo

FarmingUK

The Tenant Farmers Association has said the National Trust's vision for a p...


FarmingUK
FarmingUK Logo

FarmingUK

Ulster farmers will 'not lie down and wave the white flag' when Brexit nego...


FarmingUK
FarmingUK Logo

FarmingUK

The cost of rural crime to the UK economy costs £42.5 million a year, accor...


FarmingUK
FarmingUK Logo

FarmingUK

A young farmers club member from Oxfordshire has created a petition on the ...


closeicon
Username
Password