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US: Novartis animal unit buyout creates second-place leader

 |  April 23, 2014

Eli Lilly-owned Elanco has inked a deal to acquire pharmaceutical giant Novartis’s Animal Health operations, a deal set to create the world’s second-largest animal health conglomerate.

The deal, estimated at $5.4 billion, was inked by the firms in an all-cash transaction, including debt.

Elanco president Jeff Simmons called the merger “the most transformational milestone” in the company’s history.

The deal will remain subject to regulatory clearance, say reports.

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