Elanco Animal Health, a renowned animal health company, has reportedly inked a definitive agreement to sell its Victoria, PEI (Prince Edward Island) aqua research and development facility. The CATC (Center for Aquaculture Technologies Canada) would purchase the facility from Elanco. CATC is a top contract research services and aquaculture R&D organization with a proven presence in PEI.
The Victoria facility was added in the Elanco footprint as a part of the Novartis acquisition that happened in 2015. A source of innovative solutions and products to a few of the market’s greatest needs. Elanco would shift this crucial capability to its some other existing R&D services.
Executive Vice President of Innovation, Regulatory and Business Development at Elanco, Aaron Schacht stated that the company is extremely grateful for the hard work, efforts, and all crucial contributions everyone has made to the Elanco pipeline and the industry from the Victoria R&D facility
Schacht further added that the company is equally delighted to reach to a result that keeps Victoria’s site operational in the community with a company that values the aquaculture future.
CEO at CATC, John Buchanan stated that the company is thrilled to continue to grow its aquaculture nutrition and health research services industry in PEI, and further has bigger plans for usage of this facility.
Earlier in September, Elanco reportedly announced to sell its Victoria R&D site. The company’s Charlottetown manufacturing facility and aquaculture continue to be an important component of Elanco’s development, as proved by the capital investments and workforce expansion of the company at the site in the past two years.
Today’s growth is another step in the Elanco’s journey to build a stand-alone, agile animal health firm. These efforts build on the productivity agenda of the company, driving margin proliferation through improved efficiency.
The transaction is predicted to close during the start of first quarter in 2020. Elanco did not disclose any financial terms related to the deal.
Source credit: https://www.businesswire.com/news/home/20191224005021/en/%C2%A0Elanco-Sells-Victoria-PEI-Canada-Facility-Center