Fort Worth, Texas (January 5, 2015) – Virbac announces the successful closing, on January 2nd, of its agreement with Eli Lilly and Company to acquire two major parasiticides for dogs in the United States: SENTINEL® FLAVOR TABS® and SENTINEL® SPECTRUM®, previously marketed by Novartis Animal Health.
As announced in late October 2014, Eli Lilly and Company agreed to divest these U.S. assets as a result of the U.S. Federal Trade Commission’s review of Lilly’s acquisition of Novartis Animal Health worldwide. The completion of the transaction with Virbac was subject to approval by the Federal Trade Commission, which was granted on December 19th, 2014.
Under the terms of the agreement, Virbac has acquired a combination of rights and titles for the United States on Sentinel Flavor tabs and Sentinel Spectrum. In relation with the transaction, Virbac also offered employment to a number of the staff, predominantly commercial teams, involved in the U.S. companion animal business of Novartis Animal Health. This will allow Virbac to almost double the size of its commercial organization in the U.S., while assuring continuity in Sentinel expertise.
For Virbac this transaction is a major opportunity to transform its business and become one of the leading players in the U.S. companion animal veterinary market. Sentinel Flavor tabs and Sentinel Spectrum generated net revenues of more than 90 million U.S. dollars in the United States in 2014.
The addition of these strong brands to Virbac’s current portfolio of products, together with the doubling of the sales and marketing organization, will be key factors for Virbac to better reach and serve the needs of the veterinary clinics and pet owners in the U.S. companion animal veterinary market. This will both strengthen Virbac’s position in a major market segment, parasiticides for companion animals, and leverage Virbac’s growth potential in other specialties through increased direct contact with the veterinary practitioners.
One of the world’s largest laboratories dedicated exclusively to animal health, Virbac develops, manufactures, and distributes a wide range of products and services intended for the prevention and treatment of common pathologies in companion animals. Virbac Corporation, located in Fort Worth, Texas, is a leading companion animal health company offering products in the heartworm, tick and flea, dermatology, antibiotic, endocrinology, senior care, behavior, critical care nutrition, and oral hygiene markets. Virbac products are available to pet owners exclusively through a veterinarian.