Lilly to Acquire European Rights to Pfizer Animal Health AssetsBy Eli Lilly And Company, PRNE
Sunday, March 7, 2010
Deal Provides Strategic Fit For Elanco, Lilly's Animal Health Division
GREENFIELD, Indiana, March 8, 2010 - Elanco, the animal health division of Eli Lilly and Company (NYSE: LLY),
today announced that Lilly has signed an agreement to acquire the European
rights to a portfolio of certain Pfizer Animal Health products. The products,
including vaccines, parasiticides and feed additives, are used in both the
production animal and companion animal markets.
The products have been marketed by Pfizer and Wyeth's Fort Dodge
operations. Elanco also will acquire a manufacturing facility in Sligo,
Ireland, currently used in the production of animal vaccines. As part of the
agreement, all Sligo employees will be offered positions with Elanco.
"The addition of this attractive portfolio of products and a world-class
manufacturing facility is a natural fit for Elanco and positions us well for
sustained growth," said Jeff Simmons, president, Elanco. "Through this
acquisition, we will expand and diversify our European presence with new
market-leading products, augment our growing portfolio of companion animal
medicines, and acquire new biologic and vaccine capabilities. We are excited
about these new opportunities to improve animal health and protein
production, and deliver greater value to our customers."
The European Commission requested that Pfizer divest these products as a
result of Pfizer's acquisition last year of Wyeth, including Wyeth's Fort
Dodge Animal Health business.
Under the terms of the agreement, Lilly will acquire European rights to a
portfolio of marketed products, as well as a biological manufacturing
facility in Sligo, Ireland. In return, Pfizer will receive an undisclosed
upfront payment. In order to ensure an uninterrupted supply of product to
customers, both companies also have signed corresponding manufacturing supply
agreements. Closing of the transaction is contingent upon clearance from
European regulatory authorities and other customary closing conditions. No
other terms of the transaction were disclosed.
Elanco is a global, innovation-driven company that develops and markets
products to improve animal health and protein production in more than 75
countries. Elanco employs more than 2,300 people worldwide, with offices in
more than 40 countries, and is a division of Eli Lilly and Company, a leading
global pharmaceutical corporation. Additional information about Elanco is
available at www.elanco.com.
About Eli Lilly and Company
Lilly, a leading innovation-driven corporation, is developing a growing
portfolio of pharmaceutical products by applying the latest research from its
own worldwide laboratories and from collaborations with eminent scientific
organizations. Headquartered in Indianapolis, Ind., Lilly provides answers -
through medicines and information - for some of the world's most urgent
medical needs. C-LLY
Joan Todd (Elanco), +1-317-277-7464; or Mark E. Taylor (Lilly), +1-317-276-5795
Tags: Eli Lilly and Company, Greenfield, Indiana, ireland, March 8, United Kingdom