Eli Lilly’s subsidiary Elanco US has completed the acquisition of Boehringer Ingelheim Vetmedica, Inc’s (BIVI) U.S. feline, canine and rabies vaccines portfolio – as well as a fully integrated manufacturing and R&D site and several pipeline assets.
The acquisition diversifies Elanco’s U.S. companion animal portfolio by adding vaccines for a range of common concerns such as bordetella, Lyme disease, feline leukemia, rabies, and parvovirus. Product will be made available by Elanco immediately, said the company.
Under the terms of the agreement, Elanco acquired the BIVI portfolio for approximately $885 million, including the estimated cost of acquired inventory. The impact of the acquisition, which closed on January 3, 2017, will be reflected beginning in Lilly’s first quarter 2017 financial statements.
The acquired vaccines portfolio has experienced revenue growth over the past three years, and Lilly said that it expects the acquisition to be accretive to GAAP earnings in 2019 and to non-GAAP earnings in 2018.