The deal is expected to complete by the middle of 2020.
According to the terms of the deal, Vetoquinol will acquire the Profender and Drontal product families, the intellectual property, registrations and other rights currently owned by Bayer AG’s animal health business.
Jeff Simmons, president and CEO of Elanco said: "We’re pleased with the continued progress on a number of fronts to move the acquisition of Bayer AG’s animal health business toward completion.
Matthieu Frechin, CEO of Vetoquinol, said: "We are very pleased to acquire the Profender and Drontal product lines that are highly valued by veterinarians and pet owners. The acquisition of these two strong brands is at the heart of our strategy. On the one hand, they will significantly increase the size of our business and our visibility in the parasiticide segment, one of our strategic therapeutic areas. On the other hand, they will strengthen our portfolio of Essentials, the engine of our growth."
PS: Whilst you're here, take a moment to see our latest job opportunities for vets.