Lilly Makes an Irrevocable Offer to Acquire Janssen Animal Health

Elanco, the animal health division of Eli Lilly and Company LLY, today announced that Lilly has made an irrevocable, unconditional offer to acquire the animal health business of Janssen Pharmaceutica NV, a Johnson & Johnson Company JNJ. The two companies have notified the appropriate European works councils of their intentions.

Headquartered in Beerse, Belgium, Janssen's animal health business is primarily European-focused, targeting disease segments in companion animals and livestock, with special emphasis on swine and poultry.

Upon deal closing, Elanco would obtain a portfolio of about 50 marketed animal health products. As part of the proposed agreement, Janssen animal health employees solely dedicated to the animal health business will transfer to Elanco. No manufacturing facilities would be included in the transaction. Closing of the transaction is contingent upon clearance from European regulatory authorities and is subject to other customary closing conditions.

No other terms of the transaction were disclosed.