Elanco to Buy KindredBio
Elanco Animal Health Inc. is expected to purchase KindredBio, a biopharmaceutical company that focuses on pet therapeutics.
The acquisition is a $440 million deal, according to media reports and will further Elanco’s expansion in the pet health market.
From the beginning, we have been focused at KindredBio on bringing the best medicines to our animal family members. With this transaction with Elanco, a widely respected leader in veterinary medicine with global reach, we will maximize the impact our innovative pipeline will have on improving the lives of pets,” said Richard Chin, CEO and co-founder of KindredBio.
“This announcement is validation of KindredBio’s achievements as one of the world’s first veterinary biopharmaceutical companies, recognizing our track record in drug development and remarkably talented team,” added Denise Bevers, Board director and co-founder of KindredBio. “KindredBio looks forward to continuing our mission to transform veterinary medicine as part of the Elanco family.”