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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 a
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SOURCE Eli Lilly and Company
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