India, June 16 -- Elanco Animal Health Inc. (ELAN) and veterinary biopharmaceutical company Kindred Biosciences, Inc. (KIN) announced Wednesday they have entered into a definitive agreement for Elanco to acquire Kindred for $9.25 per share, or approximately $440 million.
The acquisition further accelerates Elanco's expansion in the attractive pet health market, particularly advancing Elanco's presence in the fast-growing billion-dollar dermatology category.
Kindred brings three potential dermatology blockbusters expected to launch through 2025, as well as a number of additional R&D programs for other chronic disorders and unmet needs, including canine parvovirus.
Elanco anticipates the combination will add approximately $100 million to i...