The US-based company Elanco has announced it has closed the acquisition of Bayer Animal Health.
The transaction, valued at $6.89 billion (€5.84 billion), expands Elanco’s scale and capabilities, positioning the company for the long term in the animal health industry, the firm claims.
Jeff Simmons, president and CEO of Elanco, said:
“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.
This is all while weathering the century’s most significant animal and human health pandemics in African swine fever and Covid-19.
“Delivering on the timely close of the acquisition and bringing momentum into day one in this challenging environment, underlines the deep capability and disciplined execution from both companies.”
‘Another key step’
Simmons continued: “This milestone is another key step in Elanco’s journey. But, ultimately, today is about improving the lives of animals, people and improving the health of the planet.
“Pets and protein have never been more important. Food supply disruptions and increasing unemployment are driving food security challenges around the world.
“At the same time, research has shown that 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 pandemic has accelerated key trends transforming the industry, particularly pet owners’ desire to access veterinary care and animal health products in a variety of forms, from curbside care and telemedicine to online purchases shipped directly to your doorstep.
“The combination of Elanco and Bayer Animal Health joins Elanco’s existing relationship with the veterinarian, with Bayer Animal Health’s focus in retail and online in order to create a system best positioned to serve veterinarians and pet owners where they want to shop,” Simmons concluded.
