Elanco’s $95 Million Divestiture of PetIQ Product

Covington represented Elanco Animal Health in the transaction.

Elanco Animal Health entered into an agreement to divest the U.S. rights and related assets for Capstar® to PetIQ, Inc., for $95 million in an all-cash deal.

Elanco is a global animal health company that develops products and knowledge services to prevent and treat disease in animals and pets in more than 90 countries.

PetIQ, Inc. manufactures and distributes health and wellness products for dogs and cats. The Company offers pet prescription medications, over-the-counter flea and tick preventives, health and wellness supplements, and dog and cat treats. Capstar® is an oral tablet that kills fleas in dogs and cats.

The Covington team included Michael Riella (Picture), Catherine Dargan, Lauren Visek, and Andrew Barna.

Involved fees earner: Andrew Barna – Covington & Burling; Catherine Dargan – Covington & Burling; Michael Riella – Covington & Burling; Lauren Visek – Covington & Burling;

Law Firms: Covington & Burling;

Clients: Elanco US, Inc.;

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Author: Ambrogio Visconti