Elanco poised to become the second largest animal health company
Elanco, a pharmaceutical company that makes products for pets and livestock, is about to become the world’s second largest animal health company.
The company announced this week that the FTC had given final approval for it’s $7.6 billion acquisition of Bayer’s animal health business. Previously, regulators for the EU, Australia, Brazil and other countries have all given a thumbs up to the deal.
Elanco, which was spun off from Eli Lilly in 2019, had revenue of $3.1 billion in 2019, while Bayer’s animal division had sales of $1.8 billion. After the deal closes in August, Elanco expects the pet med portion of its business will increase to about 50% of its overall sales.
Zoetis, which was spun off from Pfizer in 2013, will remain the global leader in the animal health arena, with sales of $6.3 billion last year.