Elanco closes deal for Bayer Animal Health
A year after announcing it would acquire Bayer’s animal health assets, Elanco Animal Health has closed the nearly $7-billion deal.
In a news conference Monday, Elanco CEO Jeff Simmons the acquisition positions Elanco as a long-term leader in the animal health industry. “These two companies are going to bring together a stronger, more global pork business,” he says. “We’re going to bring one of the broadest now cattle portfolios that exist by bringing Bayer into Elanco.”
Simmons says they’ll be able to expand their portfolios and create more offerings to their customers.
He says this is just the start of innovation in the pipeline. “We’re going to increase the scale and the size, number one,” he says. “Number two, we have a short-term pipeline between now and 2024 and we’ll have 25 new products.”
Simmons says now that the deal is complete, Elanco’s portfolio is now comprised of 50/50 livestock and pet products.