Weil Advises Eli Lilly In $5.4B Acquisition Of Novartis Animal Health

Wednesday, April 23, 2014 - 10:43

A Weil team is advising Eli Lilly and Company in its agreement to acquire Novartis Animal Health for approximately $5.4 billion in an all-cash transaction that is expected to close by the end of the first quarter of 2015, subject to regulatory and other customary closing conditions. Upon completion of the acquisition, Elanco, Lilly's own animal health business, will be the second-largest animal health company in terms of global revenue.

With a presence in approximately 40 countries and 2013 revenue of approximately $1.1 billion, Novartis Animal Health is focused on developing better ways to prevent and treat diseases in pets, farm animals and farmed fish. Lilly will acquire Novartis Animal Health's nine manufacturing sites, six dedicated research and development facilities, a global commercial infrastructure with a portfolio of approximately 600 products, a robust pipeline with more than 40 projects in development, and an experienced team of more than 3,000 employees.

The Weil team on this transaction included M&A partners Raymond Gietz and Matthew Gilroy, and associates Megan Pendleton, Joshua Nemser and Kaitlin Descovich (not yet admitted to practice); IP partners Charan Sandhu and Elizabeth Weiswasser, and associates Adrienne Baker, Rachel Vigneaux and Claire Comfort; Tax partner Helyn Goldstein and associate Mark Dundon; Benefits partner Amy Rubin and associate Daniel Birnhak; and Real Estate partner Samuel Zylberberg and associates Melissa Meyrowitz and Mallory Owen (not yet admitted to practice). All are based in New York except Tax associate Mark Dundon, who is based in the firm’s Dallas office.