Ivy Animal Health Inc. is set to become an operating unit of Eli Lilly and Company's Elanco Animal Health division. The transaction is expected to close near the end of the second quarter of 2007, contingent upon regulatory approval.
Privately held Ivy includes four divisions — Ivy Laboratories, VetLife, Ivy Natural Solutions and AgSpan — and will continue to operate from its current location in Overland Park, KS. Richard Shuler will continue to serve as president of Ivy. Upon deal closing, Ivy will become a wholly owned subsidiary of Lilly.
Jeffrey Simmons, Elanco executive director of global strategy, research and development and operations, says the acquisition of Ivy offers a number of strategic opportunities for Elanco, including VetLife's current differentiated implant product line, Ivy Natural Solutions' current and future products and services, and AgSpan's Benchmark Knowledge Services. “Our product lines are complimentary, and together they deliver cumulative value to our beef-producing customers,” he says.