Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Elanco wins conditional EU antitrust okay for $7.6 billion Bayer deal

Published 06/08/2020, 11:09 AM
Updated 06/08/2020, 11:10 AM
© Reuters. The historic headquarters of German pharmaceutical and chemical maker Bayer AG is pictured in Leverkusen

© Reuters. The historic headquarters of German pharmaceutical and chemical maker Bayer AG is pictured in Leverkusen

BRUSSELS (Reuters) - Elanco Animal Health (N:ELAN) secured EU antitrust clearance on Monday to buy Bayer's (DE:BAYGn) veterinary drugs unit after pledging to sell some products to address competition concerns about the $7.6 billion deal.

The European Commission said the companies will sell either Elanco or Bayer's products or those in the pipeline, including licenses, contracts and brands, to treat otitis, anticoccidials, parasiticides for pets in Europe.

"With the divestment of current and pipeline products treating ear infections and parasites in pets and livestock, the merger can go ahead whilst preserving competition and innovation in these markets," European Competition Commissioner Margrethe Vestager said.

© Reuters. The historic headquarters of German pharmaceutical and chemical maker Bayer AG is pictured in Leverkusen

The deal would create the world's second largest animal health company, with analysts expecting the $44 billion animal health sector to grow 5%-6% per year, driven by an increase in livestock farming and spending on pets.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.