Tags: Europe | Novartis | Eli | Lilly

EU Approves Eli Lilly's $5.4 Billion Bid for Novartis Division

Friday, 03 Oct 2014 07:57 AM

The European Union's antitrust authority says it has approved the $5.4 billion sale of Novartis' animal health division to U.S. pharmaceutical firm Eli Lilly.

The 28-nation bloc's executive Commission said Friday the sale won't hinder competition because the merged firm will continue to face a number of strong competitors.

Switzerland-based Novartis AG in April launched a major overhaul of its business which included the sale of the animal health division.

Indianapolis-based Eli Lilly & Co. has been hit hard by patent expirations and has staked its recovery in part on new drugs it develops and its animal health business.

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The European Union's antitrust authority says it has approved the $5.4 billion sale of Novartis' animal health division to U.S. pharmaceutical firm Eli Lilly.
Europe, Novartis, Eli, Lilly
99
2014-57-03
Friday, 03 Oct 2014 07:57 AM
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