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Pharmaceutical industry
Eli Lilly agrees to acquire Novartis Animal Health

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ELI Lilly, the US-based healthcare company, announced on April 22 that it had reached an agreement to acquire Novartis Animal Health. In a statement, the company said that the US $5.4 billion all-cash transaction would strengthen and diversify its own animal health business, Elanco. It reported that, on completion of the acquisition, Elanco would become the second-largest animal health company in terms of global revenue.

Under the terms of the agreement, Lilly will acquire all the assets of …

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