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Lilly to acquire Ivy Animal Health
Indianapolis - Eli Lilly and Co. announced it has signed an agreement to acquire Ivy Animal Health Inc., an applied-research and pharmaceutical- product development company focused on the animal-health industry.
INDIANAPOLIS — Eli Lilly and Co. announced it has signed an agreement to acquire Ivy Animal Health Inc., an applied-research and pharmaceutical- product development company focused on the animal-health industry.
After the deal is finalized, Ivy will continue to operate from its Overland Park, Kan., location, but will become part of Lilly's Elanco Animal Health division.
Ivy is organized into four divisions — Ivy Laboratories, VetLife, Ivy Natural Solutions and AgSpan.
The transaction was expected to close around press time, pending clearance under the Hart-Scott-Rodino Anti-Trust Improvements Act.
"The acquisition of Ivy Animal Health offers a number of strategic opportunities for Elanco, including VetLife's current differentiated-implant product line, Ivy Natural Solutions and AgSpan's Benchmark Knowledge Services," says Jeffrey Simmons, Elanco executive director of global strategy, research and development and operations.
"Our product lines are complementary and together they deliver cumulative value to our beef-producing customers."
Lilly is developing a portfolio of first-in-class and pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaboration with scientific organizations.
"Ivy and Elanco have been domestic and international business partners for the past 10 years," says Richard Shuler, Ivy Animal Health president. "A decade of global partnering has now been formalized by this acquisition. This is a synergistic partnership that is beneficial to both parties, and, more importantly, to the global animal stakeholders we serve."