Janssen Pharmaceutica NV receives offer to acquire animal health business

Janssen Pharmaceutica NV today announced it has received an irrevocable, unconditional offer from Elanco, a division of Eli Lilly and Company, to acquire its Janssen Animal Health business. Elanco is a global, innovation driven company that develops and markets products to improve animal health and protein production in more than 75 countries.

Under the terms of the offer, Elanco would acquire products, manufacturing licenses, distribution rights and the existing contract portfolio, as well as the related intellectual property and marketing authorizations. The terms of the offer also include that the employees, active in 11 different countries, would be transferred to Elanco to support a significantly expanded portfolio of products. Financial terms of the offer are not being disclosed.

The acceptance period for the offer will end late during the second fiscal quarter of 2011 unless extended and during this period Janssen Pharmaceutica NV will consult with the relevant works councils and trade unions.