Elanco closes Bayer Animal Health deal
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"Increased time at home has changed the long-term relationship between pets and their owners" - Elanco.
Elanco Animal Health Incorporated has completed the acquisition of Bayer Animal Health in a deal worth $6.89 billion.
The transaction elevates Elanco’s pet business to approximately 50 per cent of revenues and almost triples the company’s international pet health business. It also broadens Elanco’s pet parasiticide portfolio with topical treatments and collars.
Jeff Simmons, president and CEO of Elanco commented: “Nearly two years into our journey as an independent company, we have made significant progress in creating a purpose-driven, independent global company dedicated to animal health – all while weathering the century’s most significant animal and human health pandemics: African Swine Fever and COVID-19."
He added: “Food supply disruptions and increasing unemployment are driving food security challenges around the world. At the same time, research shows increased time at home has changed the long-term relationship between pets and their owners, as pets increasingly provide valuable emotional support. We know making life better for animals, simply makes life better.”
The deal brings together complementary farm animal portfolios that position Elanco to serve an even broader spectrum of the industry. It also adds several anchor cattle brands, enhances the company’s global bio-protection portfolio, and expands the company’s aqua presence into warm water fish.
Mr Simmons continued: “Most importantly, today is about the farmers, veterinarians, and pet owners we serve. If COVID-19 has made anything clear – it’s that the world has never needed animals and the work farmers and veterinarians do more.
“Together, we are better positioned to advocate for our customers, to deliver solutions to their greatest unmet needs, so they can keep healthy, sustainably sourced meat, milk, fish and eggs in the centre of the dinner table and healthy, active pets in the centre of families. Together, we have the potential to improve animal health and the lives of billions.”
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