Elanco Animal Health agreed to buy Bayer’s veterinary drugs unit in a cash and stock deal valued at $7.6 billion, creating the second-largest maker of medicines for pets and livestock and expanding Elanco’s reach online.
Germany’s Bayer signed a deal to sell the company’s Dr. Scholl’s footcare brand to U.S. private investment firm Yellow Wood Partners for $585 million.
Merck & Co. filed with the U.S. Securities and Exchange Commission that the company plans an extensive restructuring of its manufacturing and supply network.
Eli Lilly reported lower-than-expected first-quarter 2019 sales for the company’s top-selling diabetes drug Trulicity, due in part to patient affordability programs.
Merck & Co. is paying about $2.4 billion to acquire all outstanding shares of Antelliq Group, and is also assuming the digital technology company’s debt of $1.3 billion.
Bayer will cut 12,000 jobs as the company prepares a business overhaul, including an exit from the animal health division.
Bayer’s chief executive reaffirmed his support for a corporate structure made up of healthcare, crop science and animal health businesses, after analysts called for a breakup to shore up the company’s flagging share price.
Elanco Animal Health’s shares climbed 36 percent in their stock market debut, in a sign of investor enthusiasm for the fast-growing pet healthcare market.
Eli Lilly and Co. will take the company’s Elanco animal health business public and posted better-than-expected quarterly profit, helped by demand for the diabetes drugs Trulicity and Humalog.
Kindred Biosciences Inc. received the first U.S. approval for a treatment for unintended weight loss in cats.