India, May 5 -- Elanco Animal Health Inc. (ELAN) announced Monday the sale of certain royalties and commercial milestones associated with XDEMVY (lotilaner ophthalmic solution) 0.25%, for the human health application of lotilaner, to alternative asset manager Blackstone Inc. (BX) for $295 million in cash.
In pre-market activity on the NYSE, Elanco shares were gaining around 2 percent to trade at $9.94.
Under the deal, certain future tiered royalties and commercial milestones associated with lotilaner was bought by funds affiliated with Blackstone Life Sciences and Blackstone Credit & Insurance.
The agreement applies to certain tiered royalties associated with the U.S. net sales of XDEMVY from April 2025 through August 2033 and certain co...