BEERSE, Belgium, March 14, 2011 /PRNewswire-FirstCall/ -- Janssen Pharmaceutica NV today announced it has received an irrevocable, unconditional offer from Elanco, a division of Eli Lilly and Company, to acquire its Janssen Animal Health business. Elanco is a global, innovation driven company that develops and markets products to improve animal health and protein production in more than 75 countries.
Under the terms of the offer, Elanco would acquire products, manufacturing licenses, distribution rights and the existing contract portfolio, as well as the related intellectual property and marketing authorizations. The terms of the offer also include that the employees, active in 11 different countries, would be transferred to Elanco to support a significantly expanded portfolio of products. Financial terms of the offer are not being disclosed.
The acceptance period for the offer will end late during the second fiscal quarter of 2011 unless extended and during this period Janssen Pharmaceutica NV will consult with the relevant works councils and trade unions.
About Janssen Pharmaceutica
Janssen Pharmaceutica NV is one of the Janssen Pharmaceutical Companies of Johnson & Johnson, which are dedicated to addressing and resolving the major unmet medical needs of our time. More specifically, this relates to oncology (e.g. multiple myeloma and prostate cancer), immunology (e.g. psoriasis), neurosciences (e.g. schizophrenia, dementia and pain relief), infectious diseases (e.g. HIV/AIDS, hepatitis C and tuberculosis), and cardiovascular and metabolic disorders. Driven by our commitment to patients, we develop sustainable and integrated health care solutions by working side by side with all stakeholders in health care on the basis of transparent partnerships of trust.
About Janssen Animal Health
Janssen Animal Health is a division within Janssen Pharmaceutica, Beerse (Belgium) with operations in 11 countries. It focuses on targeted disease segments in companion animals and livestock with special focus on pigs and poultry.
Forward Looking Statement
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Janssen Pharmaceutica NV's and/or Johnson & Johnson's expectations and projections. Risks and uncertainties include the possibility that the transaction will not be completed, or if completed, not completed on a timely basis; general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2011. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither Janssen Pharmaceutica NV nor Johnson & Johnson undertake to update any forward-looking statements as a result of new information or future events or developments.
SOURCE Janssen Pharmaceutica NV