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Merck & Company (NYSE:MRK) completed the acquisition of the aquaculture business part of Elanco Animal Health (NYSE:ELAN).
What Happened: Elanco completed the sale for about $1.3 billion in cash. Upon completion, Elanco expects to have between $1.05 billion and $1.1 billion available for debt paydown.
“With the completion of this acquisition, we are well positioned within the aquaculture industry with a robust and comprehensive portfolio across warm water, cold water, vaccines, anti-parasitic treatments, water supplements and nutrition,” said Rick DeLuca, president of Merck Animal Health.
In addition, Merk Animal Health now owns products including CLYNAV, a DNA-based vaccine that protects Atlantic salmon against pancreas disease and IMVIXA, an anti-parasitic sea lice treatment.
Related Link: Expert Outlook: Tango Therapeutics Through The Eyes Of 6 Analysts
MRK Price Action: At the time of writing, Merck shares are trading 0.1% lower at $125.65, according to data from Benzinga Pro.
Image: Courtesy of Merck.
