Pfizer Animal Health Welcomes Agreement with Elanco On Divested European Assets
Paris, France – Pfizer Animal Health today welcomed the signing of an agreement between Pfizer and Elanco, the animal health business unit of Eli Lilly and Company, under which Elanco will acquire European rights to a portfolio of certain Pfizer Animal Health and legacy Fort Dodge Animal Health products. The divestiture of these products is in connection with the regulatory approval process associated with Pfizer’s acquisition of Wyeth, including Fort Dodge Animal Health, which was completed on October 15, 2009. Completion of the transaction with Elanco is contingent upon approval by European regulatory authorities and other closing conditions.
"This divestiture follows Pfizer's acquisition of Wyeth that furthered our commitment to the industry by providing even more comprehensive treatment options across the animal health market," said Albert Bourla, Pfizer Animal Health Area President of Europe, Africa, Asia and Pacific Region. "We are continuing to build a new Pfizer Animal Health in Europe by delivering a product portfolio across all species, investing in innovation and new partnerships, and extending our Value Added Services program."
Under the terms of the agreement, Elanco will acquire European rights to a portfolio of products previously marketed by Pfizer Animal Health and Fort Dodge Animal Health, including vaccines, parasiticides and feed additives, that are used in both food production animal and companion animal segments, as well as a Fort Dodge biologicals manufacturing facility in Sligo, Ireland. All current Sligo employees are expected to transfer to the new company.
In order to ensure an uninterrupted supply of product to customers, both companies have also signed corresponding manufacturing supply agreements for certain products. No other terms of the transaction were disclosed.
About Pfizer Animal Health
Pfizer Animal Health, a business of Pfizer Inc, is a world leader in animal health, committed to providing high-quality, innovative health products, including pharmaceuticals and biologicals, for livestock and companion animals in more than 60 countries. Pfizer Animal Health employs more than 5000 colleagues including more than 800 colleagues dedicated to Research and Development.
Published: 8th March 2010.