Area's biggest animal health company offloads portfolio to assuage antitrust regulators
An animal health subsidiary of Indianapolis-based Eli Lilly and Co. (NYSE: LLY) will pay $885 million for Boehringer Ingelheim Vetmedica Inc.'s pet vaccines portfolio. Elanco U.S. Inc. will obtain the portfolio of bordetella, Lyme disease, rabies and parvovirus vaccines. To sweeten the deal, Elanco will also get Boehringer's manufacturing and veterinary research site in Fort Dodge, Iowa.
"As a result of the acquisition, Elanco will bring greater value to customers by providing a suite of options...