A manufacturing facility in Co Sligo used by Pfizer for the production of animal vaccines is set to be transferred to Elanco, the animal-health division of Eli Lilly.
The transfer comes under the terms of a deal Elanco has agreed with Pfizer to acquire the European rights to a portfolio of certain Pfizer animal-health products for an undisclosed sum.
As part of that deal, Elanco will acquire the Sligo plant. Also under the terms of the deal, all Sligo Pfizer employees will be offered positions with Elanco, the company said.
The products produced at the Sligo facility include vaccines, parasiticides and feed additives, which are used in both the farm animal and pet markets.
In order to ensure an uninterrupted supply of product to customers from the Sligo facility, both Pfizer and Elanco have signed corresponding manufacturing supply agreements.
Pfizer is selling this portfolio of animal vaccine products at the behest of the European Commission, as a result of its acquisition of pharmaceutical rival Wyeth last year.
“The addition of this attractive portfolio of products and a world-class manufacturing facility is a natural fit for Elanco and positions us well for sustained growth,” said Elanco president Jeff Simmons.
“Through this acquisition, we will expand and diversify our European presence with new market-leading products, augment our growing portfolio of companion animal medicines, and acquire new biologic and vaccine capabilities. We are excited about these new opportunities to improve animal health and protein production, and deliver greater value to our customers.”
Article courtesy of Businessandleadership.com