Elanco to Sell Osurnia as it Seeks Regulatory Blessing for Bayer Deal
2020年1月6日 - 8:53PM
Dow Jones News
By Colin Kellaher
Elanco Animal Health Inc. (ELAN) Monday said it agreed to sell
Osurnia, a treatment for otitis externa in dogs, to Dechra
Pharmaceuticals PLC (DPH.LN) for $135 million in cash as part of
its efforts to gain regulatory clearance for its $7.6 billion
acquisition of Bayer AG's (BAYN.XE) animal-health business.
Elanco said it is making solid progress in its talks with
regulatory authorities to resolve antitrust concerns related to the
acquisition, adding that it expects to sell a small portfolio of
products across both organizations with total 2018 revenue of $120
million to $140 million.
Elanco said Osurnia had 2018 revenue of $31.2 million, adding
that it is in advanced talks discussions with the FTC and EU
Commission on the divestiture of the remaining assets in those
jurisdictions.
Elanco said the sale of Osurnia to Dechra, a U.K. veterinary
pharmaceuticals company, is contingent on regulatory approval of
the Bayer deal.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 06, 2020 06:38 ET (11:38 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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