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news.Janssen Pharmaceutica has got an unconditional offer from Elanco, a division of Eli Lilly and Company, to acquire its Janssen Animal Health business.
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As per 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 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 will consult with the relevant works councils and trade unions.