On March 15, 2011, Elanco, the animal health division of Eli Lilly and Company (“Lilly”), announced that Lilly has made an irrevocable, unconditional offer to acquire the animal health business of Janssen Pharmaceutica NV, a Johnson & Johnson Company. Cravath represented Janssen Pharmaceutica in connection with this transaction. Financial terms were not disclosed. Headquartered in Beerse, Belgium, Janssen Pharmaceutica’s animal health business is primarily European-focused, targeting disease segments in companion animals and livestock. Closing of the transaction is contingent upon clearance from European regulatory authorities and is subject to other customary closing conditions.
The Cravath team included partner Robert I. Townsend and associates Benjamin P. Schaye, Jason S. Kollander and Katerina M. Novak on corporate matters; partner Andrew W. Needham and associate J. Leonard Teti II on tax matters; and partner Eric W. Hilfers and associates Jarrett R. Hoffman and Michael J. Schobel on executive compensation and benefits matters.