Eli Lilly to sell dog drug assets to Virbac to secure approval for purchase of Novartis animal health unit
( October 29, 2014, 18:43 GMT | Official Statement) -- MLex Summary: Pharmaceutical companies Eli Lilly and Novartis have agreed to divest certain assets related to two major parasiticides for dogs in order to secure approval from the US Federal Trade Commission for their deal, according to a Eli Lilly regulatory filing on Wednesday. Eli Lilly is seeking to acquire the animal-health unit of Novartis for $5.4 billion. The companies have entered into an agreement to sell these assets to Virbac Corporation, subject to approval from the FTC. The transaction is expected to close by the end of the first quarter of 2015.Extract....
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