Elanco Animal Health Enters Agreement to Acquire Boehringer Ingelheim Vetmedicas U.S. Feline, Canine and Rabies Vaccines Portfolio
(08.10.2016) Eight new product lines and a fully integrated manufacturing and R&D site to transfer to Elanco, adding to its growing companion animal business; subject to FTC approval and closing of BI/Sanofi asset swap
Elanco U.S., Inc., a subsidiary of Eli Lilly and Company (NYSE: LLY), announced an agreement to acquire Boehringer Ingelheim Vetmedica, Incs (BIVI) U.S. feline, canine and rabies vaccines portfolio as well as a fully integrated manufacturing and R&D site for million, including the estimated cost of acquired inventory.
The deal will diversify Elancos U.S. companion animal portfolio by complementing its offerings for dogs and cats.
Joining Elancos U.S. portfolio which currently includes parasiticides, pain and dermatology medicines will be routinely administered vaccines for bordetella, Lyme disease, rabies and parvovirus, among others. Also included in the agreement are several pipeline assets.
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.
We understand the unique bond that owners share with pets and are committed to helping those pets live longer, healthier lives, said Jeff Simmons, president, Elanco Animal Health. With a growing portfolio addressing both prevention and treatment of disease, Elanco can partner with veterinarians and pet caregivers to do just that.
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 Ingelheims asset swap transaction with Sanofi.
The sale of BIVIs U.S. pet vaccines business and Fort Dodge manufacturing site is a required step toward the acquisition of Merial by Boehringer Ingelheim.
The current vaccine portfolio to be acquired has experienced revenue growth over the past three years, and Lilly expects the acquisition to be accretive to GAAP earnings in 2019 and to non-GAAP earnings in 2018.
John C. Lechleiter, Ph.D., Lillys chairman, president and chief executive officer, said that the planned acquisition of BIVIs U.S. feline, canine and rabies vaccines portfolio reaffirms Lillys confidence in Elancos growth potential.
As a result of the acquisition, Elanco will bring greater value to customers by providing a suite of options for preventing common diseases in companion animals, said Lechleiter. Coupled with our robust food animal portfolio, this addition further strengthens Elancos position in the global animal health business.
Jefferies LLC is acting as the exclusive financial advisor and Paul Hastings LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are acting as legal advisors to Elanco and Lilly in this transaction.
Products included within the acquisition:
Canine:
Duramune®
Duramune® Max 5/4L
Duramune® Max 5
Duramune® Max 5-Cvk/4L
Duramune® Max 5-Cvk
Duramune® Max Pv
Duramune® CV-K
Duramune® Max PC
Duramune® Adult 3
LeptoVax® 4
LeptoVax® 4/C
Bronchi-Shield®
Bronchi-Shield® Oral
Bronchi-Shield® III
Duramune Lyme®
Duramune Lyme®
Duramune Lyme® + LeptoVax® 4
Duramune Lyme® + Max 5/4L
Duramune Lyme® + Max5-CvK/4L
Duramune Lyme® + Max5-CvK
Duramune Lyme® + Leptovax® 4/C
ULTRATM Duramune®
ULTRATM Duramune® DAP+4L
ULTRATM Duramune ® DAP
ULTRA TMDuramune ® 4L
ULTRATM Duramune ® DAP+C4L
ULTRATM Duramune ® DAP+C
ULTRA TM Duramune Lyme®
Feline:
Fel-O-Vax®
Fel-O-Vax® Lv-K® IV + CaliciVax®
Fel-O-Vax Lv-K® III + CaliciVax®
Fel-O-Vax® Lv-K®
Fel-O-Vax® IV + CaliciVax®
Fel-O-Vax® PCT + CaliciVax®
Fel-O-Vax® Lv-K + FIV®
Fel-O-Vax® FIV®
CaliciVax®
ULTRATM Fel-O-Vax®
ULTRATM Fel-O-Vax® FVRCP+FeLV
ULTRATM Fel-O-Vax® FVRCP
ULTRATM Fel-O-Vax® FeLV
ULTRATM Fel-O-Vax® Dual FCV
ULTRATM Hybrid FVRCP
Fel-O-Guard®
Fel-O-Guard® Plus 3
Fel-O-Guard® Plus 3 + Lv-K
Fel-O-Guard® Plus 4
Fel-O-Guard® Plus 4 + Lv-K
Rabies
Rabvac®
Rabvac®3
Rabvac® 1