Elanco, an animal health company spun out of Eli Lilly, is making an acquisition in the animal biotech field
Elanco Animal Health, which spun out of Eli Lilly last fall, announced the acquisition on Friday of Aratana Therapeutics, a biotech focused on developing dog and cat medicine, in a stock deal valued at about
$234 million, or $4.75 a share. Aratana shareholders may get additional payouts based on sales milestones. The company’s drugs include treatments for osteoarthritis, weak appetites and pain relief after surgery.
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