Merck to buy Elanco Animal Health's aqua business for $1.3 bln
Feb 5 (Reuters) — Merck said on Monday it had agreed to buy Elanco Animal Health's aqua business for $1.3 billion in cash, to strengthen its portfolio of aquatic healthcare products.
Shares in Elanco, which makes animal health products, rose almost 8% in premarket trading after the news.
The acquisition will help Merck gain access to the DNA-based vaccine Clynav, which protects atlantic salmon against pancreas disease, and Imvixa, an anti-parasitic sea lice treatment.
Merck will also have access to Elanco's manufacturing facilities in Canada and Vietnam, as well as a research facility in Chile.
The acquisition is expected to be completed by mid-year.
(Reporting by Bhanvi Satija and Khushi Mandowara in Bengaluru; Editing by Savio D'Souza and Sriraj Kalluvila)
