Elanco, the animal health division of Eli Lilly and Company, says it has entered an agreement to acquire Lohmann Animal Health (LAH), a privately-held company headquartered in Cuxhaven, Germany.
The acquisition will solidify the company’s vaccine presence, broaden its product offerings and significantly augment its vaccine manufacturing capabilities.
Under the terms of the agreement, Lilly will acquire all assets of Lohmann SE and its subsidiary, LAH. These assets include a range of vaccines and feed additives, commercial capabilities, and manufacturing sites in Cuxhaven, Germany and Winslow, Maine. No other terms of the transaction were disclosed.
The transaction is expected to close in the second quarter of 2014, contingent upon clearance from regulatory authorities and other customary closing conditions. As a result of business combination accounting adjustments and transaction costs associated with this acquisition, Lilly has lowered its full-year 2014 earnings per share guidance to be in the range of $2.72 to $2.80 on both a reported and non-GAAP basis.
