ELAN

Elanco Animal Health wins approval to buy Bayer unit

Credit: REUTERS/Wolfgang Rattay

WASHINGTON, July 15 (Reuters) - Elanco Animal Health ELAN.N has won U.S. antitrust approval to buy Bayer AG's BAYGn.DE animal health business on condition that it sell assets to treat three ailments, two in dogs and one in cattle, the Federal Trade Commission said on Wednesday.

The deal was valued at $7.6 billion when it was announced in August 2019.

To win antitrust approval, the FTC said it required the companies to sell assets related to oral treatments to kill fleas on dogs, an inflammation of dogs' inner ears and some pour-on cattle insecticides which control multiple insects.

(Reporting by Diane Bartz Editing by Chizu Nomiyama)

((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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