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Elanco Receives FTC Clearance in $7.6 Billion Acquisition of Bayer’s Animal Health Business

Paul, Weiss is representing Elanco Animal Health Inc. in the corporate and antitrust aspects of its $7.6 billion acquisition of the animal health business of Germany-based pharmaceutical giant Bayer AG. The deal, announced in August 2019, was cleared by the U.S. Federal Trade Commission. This is the final required antitrust clearance, allowing Elanco to close the deal on August 1, as planned.

Paul, Weiss secured a unanimous FTC decision in an area—human and animal health—that has received extensive antitrust scrutiny in recent years. The firm also coordinated the efforts of regulatory counsel across the globe, managing global advocacy for the underlying deal while also identifying and coordinating responses to potentially conflicting regulatory requirements in numerous jurisdictions.

Indiana-based Elanco, a former Eli Lilly division, develops and markets drugs and vaccines to prevent and treat disease in farm animals and pets across more than 90 countries. The deal—Elanco’s largest to date—will expand Elanco’s footprint in Europe and bolster its presence in faster-growing emerging markets, creating the second-largest animal-health company globally.

The Paul, Weiss team includes, among others, antitrust partner Rick Rule and counsel Marta Kelly

July 15, 2020

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