(INDIANAPOLIS) - Eli Lilly has announced an agreement to purchase Novartis Animal Health for approximately $5.4 billion.
The all-cash transaction that will strengthen and diversify Lilly's own animal health business, Elanco.
When the company completes the acquisition, Elanco will be the second-largest animal health company in the US and globally, and improve its position in Europe and the rest of the world.
With a presence in approximately 40 countries and 2013 revenue of approximately $1.1 billion, Novartis Animal Health is focused on developing better ways to prevent and treat diseases in pets, farm animals and farmed fish.
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