July 26, 2020
US approves Elanco's Bayer Animal Health acquisition
The US Federal Trade Commission (FTC) has given unanimous approval to Elanco Animal Health Incorporated for its acquisition of Bayer Animal Health, a division of Bayer AG, Southeast AgNet reported.
The FTC decision represents the final antitrust clearance needed to complete the transaction, which continues on track for closing at the beginning of August.
Elanco CEO Jeff Simmons says the approval "marks the near-final step in fulfilling our vision of bringing together two dedicated animal health companies." Elanco continues to expect necessary worldwide divestitures in the previously announced range of US$120 million to US$140 million of annual revenue to advance regulatory reviews.
The FTC's approval is conditional on three product divestitures, including StandGuard, a pour-on treatment for horn fly and lice control in beef cattle, being sold to Neogen Corporation. In addition to FTC approval, Elanco has received antitrust clearance for the transaction from the European Commission, as well as in 10 other countries.