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Heska enters into agreement with Elanco
Elanco gains assets used for the production of bovine and feline vaccines.
Heska Corp., a provider of veterinary diagnostic and specialty products, announced an agreement with Elanco Animal Health June 24. Heska sold certain non-core assets useful for the production of bovine and feline vaccines to Elanco, a division of Eli Lilly and Co. A statement released by Heska says it does not anticipate any change in its current vaccine production at its Des Moines, Iowa, facility as a result of the agreement with Elanco.
Financial terms of the agreement were not disclosed, but Heska President of Pharmaceuticals and Biologicals Michael McGinley says the company is pleased with what the move will mean for Heska’s future. “Heska had a limited direct involvement in the market segments covered under this agreement. The sale of these assets will strengthen our balance sheet and allow us to invest in areas more closely aligned with our strategic focus as well as offer potential future opportunities for our other vaccines, pharmaceuticals and products business segment,” McGinley says.