Elanco Animal Health has been granted US antitrust approval to buy Bayer’s animal health business on condition that it sells assets to treat three ailments, two in dogs and one in cattle.
The approval by the Federal Trade Commission (FTC) was the final antitrust approval required, and the proposed $7.6 billion deal, announced last year, is on track to close beginning of August, Elanco says.
To gain FTC approval, the companies agreed to sell assets relating to oral treatments to kill fleas on dogs, an inflammation of dogs’ inner ears and some pour-on cattle insecticides which control multiple insects. “This approval marks the near-final step in fulfilling our vision of bringing together two dedicated animal health companies,” Elanco CEO Jeff Simmons said. The EU approved the deal in June, subject to conditions.
The transaction is expected to create the world’s second largest animal health company, trailing Zoetis, in an animal health market worth $44 billion/year and growing at 5%-6%/year. Elanco has agreed to divest its canine ear medicine Osurnia to Dechra Pharmaceuticals, its dog flea medicine Capstar to PetIQ Inc. and its cattle pour-on insecticide treatment StandGuard to Neogen Corp.
The complementary transaction strengthens Elanco’s innovation, portfolio and productivity strategy by combining Elanco’s focus on the veterinarian with Bayer’s direct-to-consumer expertise. In addition, the transaction will advance Elanco’s portfolio transformation, creating a balance between the farm animal and pet health businesses, the company says.
By: Natasha Alperowicz
Source: Chemical Week
PepsiCo Europe and crop nutrition company Yara have announced a long-term partnership aimed at providing European farmers with low-carbon crop nutrition solutions to help decarbonise the food value chain. Under the agreement, Yara will supply PepsiCo with up to 165,000 tons of fertiliser per year by 2030, covering around 25% of the food and beverage giant’s crop fertiliser needs across Europe.
BASF has signed an agreement to sell its flocculants business for mining applications to Solenis, a specialty chemicals manufacturer. The divestment of the flocculants business to Solenis is part of BASF’s ongoing portfolio optimisation with the aim of focusing on strategic core areas.
ADAMA Ltd. a leading crop protection company, announced that its board of directors has appointed Gaël Hili as its President and Chief Executive Officer, effective October 1, 2024. Hili will join the Syngenta Group Leadership Team and will be based in Tel Aviv.
