The animal health division of drugmaker Eli Lilly will acquire the rights to a portfolio of Pfizer products in Europe, including vaccines and feed additives.
Lilly's Elanco division also acquired a manufacturing facility in Ireland used to produce animal vaccines, the drugmaker said Monday. The product portfolio includes treatments for parasites, both commercial animals and pets.
Terms of the deal were not disclosed.
Elanco President Jeff Simmons said in a statement that the deal will allow the company to expand in Europe. The European Commission asked Pfizer Inc. to divest some of its assets after it bought drug and health company Wyeth for $68 billion last year.
Shares of Eli Lilly and Co. fell 18 cents to $34.91 at the start of trading Monday.
