Dechra Pharma To Acquire Worldwide Rights To Osurnia From Elanco - Quick Facts

(RTTNews) - Elanco Animal Health Inc. (ELAN) has agreed to divest Osurnia, a treatment for otitis externa in dogs, to Dechra Pharmaceuticals (DPH.L) for $135 million. This deal is related to Elanco's acquisition of Bayer AG's (BAYZF.PK, BAYRY.PK, BYR.L) animal health business, which is subject to regulatory approval from the European Commission and the Federal Trade Commission.

Osurnia had 2018 annual revenue of $31.2 million. Dechra Pharma expects the acquisition to be earnings enhancing for the financial year ending 30 June 2021.

Ian Page, Dechra's CEO stated: "The addition of Osurnia will allow us to offer an extended range of solutions for veterinarians to manage otitis externa and offer the best treatment for the pet taking into consideration the veterinarians clinical preference and the owners lifestyle."