The Rising Influence of Rising Affluence

[DewDiligence]

ELAN divests canine drug to facilitate acquisition of Bayer’s animal-health business:

https://www.businesswire.com/news/home/20200105005105/en/Elanco-Signs-Agreement-Dechra-Divest-Osurnia%C2%AE

Elanco Animal Health Incorporated…announced today it has signed an agreement to divest Osurnia, a treatment for otitis externa in dogs, to Dechra Pharmaceuticals PLC (LON: DPH) for $135 million in an all-cash deal.

Elanco has made the independent decision to divest global rights to Osurnia, which had 2018 annual revenue of $31.2 million, with intent to advance the previously announced acquisition of Bayer AG’s (ETR: BAYN) global animal health business. The closing of the transaction with Dechra is contingent on Elanco entering into a consent decree with the Federal Trade Commission (FTC), the European Commission (EU Commission) and other agencies in connection with its Bayer transaction, as well as other customary closing conditions.