INDIANAPOLIS, March 14, 2011 /PRNewswire/ --
- Deal Would Provide European Expansion and Portfolio Diversification
For Elanco, Lilly's Animal Health Division
Elanco, the animal health division of Eli Lilly and Company (NYSE: LLY),
today announced that Lilly has made an irrevocable, unconditional offer to
acquire the animal health business of Janssen Pharmaceutica NV, a Johnson &
Johnson Company. The two companies have notified the appropriate European
works councils of their intentions. Headquartered in Beerse, Belgium,
Janssen's animal health business is primarily European-focused, targeting
disease segments in companion animals and livestock, with special emphasis on
swine and poultry.
Upon deal closing, Elanco would obtain a portfolio of about 50 marketed
animal health products. As part of the proposed agreement, Janssen animal
health employees solely dedicated to the animal health business will transfer
to Elanco. No manufacturing facilities would be included in the transaction.
Closing of the transaction is contingent upon clearance from European
regulatory authorities and is subject to other customary closing conditions.
No other terms of the transaction were disclosed.
"The addition of Janssen's animal health business will strongly support a
number of strategic growth priorities for Elanco, while providing synergies
with our current operations," said Jeff Simmons, Lilly senior vice president
and president of Elanco. "Through this transaction, we intend to further
expand our European presence, bolster our growing portfolio of companion
animal medicines and diversify our food animal portfolio with new swine and
poultry products. We are excited about these new opportunities to improve
animal health, food safety and food animal production while delivering
greater value to our customers."
About Elanco
Elanco is a global innovation-driven company that develops and markets
products to improve animal health and food animal production in more than 75
countries. Elanco employs more than 2,300 people worldwide, with offices in
more than 40 countries, and is a division of Eli Lilly and Company, a leading
global pharmaceutical corporation. Additional information about Elanco is
available at http://www.elanco.com.
About Eli Lilly and Company
Lilly, a leading innovation-driven corporation, is developing a growing
portfolio of pharmaceutical products by applying the latest research from its
own worldwide laboratories and from collaborations with eminent scientific
organizations. Headquartered in Indianapolis, Ind., Lilly provides answers -
through medicines and information - for some of the world's most urgent
medical needs. C-LLY
This press release contains forward-looking statements about the benefits
of the acquisition by Lilly of certain assets of the animal health business
of Janssen Pharmaceutica, NV, a Johnson & Johnson company, and the potential
of these assets, including product pipeline assets. This release reflects
Lilly's current beliefs, assuming that the transaction is successfully
closed; however, as with any such undertaking, there are substantial risks
and uncertainties in the process of implementing the transaction and in the
development of these products. There is no guarantee Lilly will realize the
expected benefits of the transaction, that the commercial assets acquired
will continue to be commercially successful, that pipeline assets will be
approved by relevant regulatory authorities on the anticipated timelines or
at all, or that the acquired pipeline will yield commercially successful
products. For further discussion of these and other risks and uncertainties,
please see Lilly's latest Forms 10-K and 10-Q filed with the U.S. Securities
and Exchange Commission. The company undertakes no duty to update
forward-looking statements.
(Logo: http://photos.prnewswire.com/prnh/20031219/LLYLOGO )
(Logo: http://photos.prnewswire.com/prnh/20110314/DE64218LOGO )
Colleen Parr Dekker (Elanco - U.S.), +1-317-276-4076, Olivier Espeisse (Elanco - Europe), + 33-6- 89-97-25-85, Ed Sagebiel (Lilly), +1-317-433-9899, Stefan Gijssels (Janssen Pharmaceutica N.V.), +32-473-710-425
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