The German chemicals and pharmaceutical company Bayer has sold its petmedicine division with the Bolfo and Bay-o-Pet brands to its US competitorElanco for 7.6 bn dollars. According to a Bayer press release, Elanco ispaying 5.3 bn dollars in cash with the rest in shares. This makes Bayer one ofthe biggest shareholders in the US company.

With this acquisition Elanco becomes the second-largest supplier worldwide inthe pet health sector and enables it to strengthen its position in the anti-parasitic agents field, which was one of the main product areas of Bayer’s petmedicine division.

Source: Petworldwide

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