Navigation Links
Elanco Animal Health Announces Lilly's Agreement to Acquire ChemGen Corp.
Date:1/24/2012

GREENFIELD, Ind., Jan. 24, 2012 /PRNewswire/ -- Elanco, the animal health division of Eli Lilly and Company (NYSE: LLY), today announced that Lilly has signed an agreement to acquire ChemGen Corp., a privately held bioscience company specializing in the development and commercialization of innovative feed enzyme products that improve the efficiency of poultry, egg, and meat production. Feed enzymes are naturally occurring digestive enhancers that can help animals unlock and better use nutrients in the feed that were otherwise unavailable.

The acquisition will provide Elanco with a portfolio of leading feed enzyme products, as well as a pipeline of innovative compounds in development. ChemGen will continue research and administrative operations at its current location in Gaithersburg, Maryland and manufacturing activities at its facility in Terre Haute, Indiana, as well as its present sales and field service operations. Upon closing of the transaction, ChemGen will become a wholly owned subsidiary of Lilly and an operating unit of Elanco.

"Meeting the growing demand for food is one of the most critical issues of our time. The acquisition of ChemGen and its premiere enzyme business further underscores Elanco's commitment to provide our customers with leading animal productivity solutions," said Jeff Simmons, senior vice president of Eli Lilly and Company and president of Elanco Animal Health. "This acquisition allows Elanco to leverage our expertise in developing trusted, science-based solutions into the enzyme space, which is an emerging field with significant growth potential. ChemGen's strong presence in the poultry and swine markets in North America and Asia is well suited to Elanco's existing business, while Elanco's presence in Latin America and Europe represent growth opportunities. Given Elanco's global footprint, customer relationships, and market knowledge, we are well positioned to continue to grow product sales, as well as expand to new customers and geographies."

William Weldon, vice president of Elanco research and development added, "Meeting the growing demand for food requires us to develop and commercialize technology that improves the ability of livestock to get the most out of every pound of feed and natural resources used in production. Elanco is excited to combine our experience and approach in product development, fermentation and protein production with ChemGen's expertise in the development and commercialization of feed enzymes."

Bernie Treidl, president of ChemGen said, "Enzymes are naturally-occurring proteins that have been widely used and accepted in many industries for decades. ChemGen has been at work over the past 25 years improving the manufacturing and delivery process of enzymes for feed uses. Our focus at ChemGen is to develop innovative feed enzyme products, which aligns well with Elanco's goal of using technology solutions to meet the world's growing demand for food. My team at ChemGen looks forward to joining Elanco and working together to meet that goal." 

The transaction is expected to close in the first quarter of 2012, contingent upon clearance under the Hart-Scott-Rodino Anti-Trust Improvements Act and other customary closing conditions. Financial terms of the transaction were not disclosed. JPMorgan served as financial advisor to Lilly, while Houlihan Lokey served as financial advisor to ChemGen.

Media Briefing Information

Jeff Simmons, president of Elanco Animal Health, will lead a media briefing at 3:00 pm EST today, January 24, 2012, live from the International Poultry Expo (IPE) in Atlanta, Georgia. Simmons will discuss the acquisition of ChemGen, as well as Elanco's strategy and corporate priorities. The media briefing will be held in the IPE Media Center Conference Room (in the B Lobby). A conference call will also be available for media not in attendance. The call may be accessed by phone by calling 800-288-8960 (U.S.) or 612-332-0335 (international). No access code is required for the conference call. To access slides via web conference go to https://www.webmeeting.att.com, (meeting number: 5114686455 and participant code: 992372).

About Elanco

Elanco is a global, innovation-driven company that develops and markets products to improve animal health and protein production in more than 75 countries. Elanco employs more than 2,500 people worldwide, with offices in more than 40 countries, and is a division of Eli Lilly and Company, a leading global pharmaceutical corporation. Additional information about Elanco is available at www.elanco.com.

About Eli Lilly and Company

Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information – for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com. C-LLY

This press release contains forward-looking statements about the benefits of the acquisition of ChemGen by Lilly, and the potential of the combined businesses, including ChemGen's feed enzyme products and pipeline assets. This release reflects Lilly's current beliefs, assuming that the transaction is successfully closed; however, as with any such undertaking, there are substantial risks and uncertainties in the process of implementing the transaction and in the development of these products. There is no guarantee Lilly will realize the expected benefits of the transaction, that the commercial assets acquired will continue to be commercially successful, that pipeline assets will be approved by relevant regulatory authorities on the anticipated timelines or at all, or that the acquired pipeline will yield commercially successful products. For further discussion of these and other risks and uncertainties, please see Lilly's latest Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission. The company undertakes no duty to update forward-looking statements.

(Logo:  http://photos.prnewswire.com/prnh/20031219/LLYLOGO )


'/>"/>
SOURCE Eli Lilly and Company
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Elanco Launches Broad-Spectrum Canine Parasiticide
2. Elanco Announces Commitment to Fight World Hunger
3. One Shot of Gene Therapy Spreads Through Brain in Animal Study
4. Mans Best Friend May Open Door to Understanding Fibrotic Lung Disease in Human and Animal Populations
5. Dog Law Officers Crackdown on Unsatisfactory Kennels Protecting Animals, Consumers
6. CSL Behring Study in Animal Models Shows Feasibility of Developing a Half-Life Extended Recombinant FVIIa that Retains Biologic Activity
7. Anadys Pharmaceuticals Announces Positive Results for ANA598 in Animal Model of Chronic Hepatitis C Virus Infection
8. Researchers Use Magnetism to Target Cells to Animal Arteries
9. Protalix BioTherapeutics Extends Research Agreement With Yissum Based on Promising Acetylcholinesterase Program Results in Animal Study
10. Emisphere Technologies Announces Positive Results From Animal Studies on Oral B12 Using eligen(R) Technology
11. Lixte Biotechnology Holdings Announces That Anti-Cancer Activity Against Glioblastoma in an Animal Model Was Reported at the Annual Meeting of the American Association of Cancer Research
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/6/2016)... 6, 2016 Radioisotopes are radioactive isotopes having ... either by using nuclear research reactor or by using ... alpha, beta or gamma when changed to a stable ... Nuclear medicine, specifically in medical diagnostics. In this field, ... a human body,s functioning. Radiotherapy is also used to ...
(Date:12/6/2016)... Anaplastic Oligoastrocytoma - Pipeline Review, H2 ... Pharmaceutical and Healthcare disease pipeline guide Anaplastic Oligoastrocytoma ... of the Anaplastic Oligoastrocytoma (Oncology) pipeline landscape. ... when two types of cells in the brain, ... to form a mass. These brain cells are ...
(Date:12/6/2016)... Dec. 6, 2016   AlloSource , one ... bone, skin and soft-tissue allografts for use in ... Process Manager, for being named to the Board ... Quality Award by the Commerce Department,s National Institute ... commitment to process excellence. The Baldrige Award is ...
Breaking Medicine Technology:
(Date:12/7/2016)... MI (PRWEB) , ... December 07, 2016 , ... ... and financial consultation services from offices located in South Lyon, Dewitt, Williamston, East ... benefit a basketball coach who needs treatment for a brain tumor. , Jason ...
(Date:12/7/2016)... ... December 07, 2016 , ... A. Kevin Spann Insurance, a New York-based ... Five Boroughs, is launching a charity drive to raise funds that will benefit the ... spirit of marines and Navy FMF Corpsmen. Working closely with the MCL, the A. ...
(Date:12/7/2016)... (PRWEB) , ... December 07, 2016 , ... Delete® - ... in Time For The Holiday Party Season. Save Up To 33% Off Botox® and ... Salon is providing the Phoenix Valley with Delightful Deals on Botox® and ...
(Date:12/7/2016)... ... December 07, 2016 , ... Gensuite is ... Awards under the Best New Product Launch category. Gensuite’s entry on their EZ ... , BOC Global Events & Training Group is a professional event and training ...
(Date:12/7/2016)... ... 07, 2016 , ... “Walking With God: Inspirational Lessons from My Life's Journey”: ... to be aware of God's direction in their lives. “Walking With God: Inspirational Lessons ... and active church leader. , Sanford says, “I enjoy sharing the true ...
Breaking Medicine News(10 mins):