Bayer Says $7.6bn Farewell To Animal Health As It Sells Unit To Elanco

Bayer is relinquishing its Animal Health Unit to Elanco as the German major turns its focus more towards life sciences. The money received should help it pay down some Monsanto debt, but there are antitrust concerns.

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Bayer is leaving the animals behind • Source: Shutterstock

Bayer AG is to sell its animal health unit to the Eli Lilly & Co. spin off, Elanco, in a cash and stock transaction to the tune of $7.6bn as the German conglomerate repositions itself towards life sciences.

The deal, announced on 20 August, will improve Bayer’s ability to pay off some of the debt built up from the Monsanto acquisition. It is the largest transaction in the...

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