Elanco to acquire U.S. feline, canine, rabies vaccines portfolio for $885M
Elanco U.S., Inc., a subsidiary of Eli Lilly (LLY), announced an agreement to acquire Boehringer Ingelheim Vetmedica, Inc.'s, or BIVI, U.S. feline, canine and rabies vaccines portfolio - as well as a fully integrated manufacturing and R&D site - for $885M, 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. 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. 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 (SNY).