Novartis completes animal health business sale transaction
January 01, 2016 | Friday | News | By BioSpectrum Bureau
Novartis completes animal health business sale transaction
The transaction is worth $5.4 billion
Novartis India has completed the transaction to sell its animal health business to Elanco India, an affiliate of Eli Lilly.
In a filing to BSE, the company said, "Following the approval from the Foreign Investment Promotion Board ( FIPB), Indian government and Competition Commission of India, we wish to inform you that the transaction for the transfer of the company's animal health division to Elanco India has been completed."
In April 2014, Novartis had agreed to sell its global animal health business to Eli Lilly and Co for about $5.4 billion in an all-cash transaction.
