Eli Lilly to acquire veterinary vaccine portfolio from Boehringer Ingelheim
Eli Lilly subsidiary Elanco U.S. announced an agreement with Boehringer Ingelheim Vetmedica to acquire a portfolio of U.S. canine, feline and rabies vaccines, as well as a fully integrated manufacturing and R&D site. The sale price of $885M includes the estimated cost of acquired inventory. The deal is conditioned on antitrust approval and closing of the Boehringer Ingelheim asset swap transaction with Sanofi that was signed in June. The current BIVI vaccine portfolio has experienced consistent revenue growth over the past three years. The sale to Elanco is anticipated to close by early 2017 subject to approval by the Federal Trade Commission, and other contingencies.