Merck to Buy Elanco’s Aqua Business for $1.3 Billion
Merck to Buy Elanco’s Aqua Business for $1.3 Billion
Merck on Monday said the deal includes a portfolio of medicines and vaccines, nutritionals and supplements for aquatic species, along with manufacturing plants in Canada and Vietnam and a research facility in Chile.
Elanco’s aqua business, which includes products across warm-water and cold-water species, generates about $175 million in annual revenue.
Merck’s animal-health unit accounted for nearly $5.63 billion of the Rahway, N.J., company’s more than $60 billion in sales last year.
Elanco, a Greenfield, Ind., animal-health company, said it plans to use the $1.05 billion to $1.1 billion of after-tax cash proceeds from the sale to pay down debt.
The deal is slated to close around mid-year.
Author: Colin Kellaher
Publication: The Wall Street Journal
Link: Merck to Buy Elanco’s Aqua Business for $1.3 Billion - WSJ
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