Global animal health company, Vetoquinol, has announced the European Commission (EC) has approved the proposed acquisition of Bayer’s Animal Health Division by Elanco Animal Health.
This EC decision is conditional on the divestment of several products, including the Profender and Drontal product families, as well as the related pipeline assets, to be acquired by Vetoquinol.
Earlier this year, Vetoquinol had announced the acquisition of the Profender and Drontal product families for the European Economic Area and the UK.
The Profender and Drontal families of products are spot-on and tablet dewormers for cats and dogs.
The transaction is expected to close early August 2020 and remains subject to additional regulatory approvals and customary closing conditions.
Matthieu Frechin, CEO of Vetoquinol, said: “We are extremely pleased to share this major regulatory step towards the completion of the acquisition of the Profender and Drontal product lines.
“The acquisition of these two strong brands as well as the related pipeline is at the core of Vetoquinol strategy. On the one hand, they will significantly increase the size of our business and our visibility in the parasiticide segment, one of our strategic therapeutic areas.”
He added: “On the other hand, they will strengthen our portfolio of essentials, the engine of our growth.”
The news comes as Vetoquinol revealed “strong” first quarter results amid the Covid-19 crisis.
The company reported a 13.4% rise in total group sales to €103.4m (£90.5m), with ‘essential sales’ increasing by 17.9% to €53.4m (£46.8m).
Sales of companion animal products came to €60.1m (£52.6m) and accounted for 58.1% of total Vetoquinol sales, up 15.1% at constant exchange rates. Sales of livestock products came to €43.3m (£37.9m), up 10.9% at constant exchange rates.
Vetoquinol operates and sells its products across Europe, America and the Asia Pacific region.