Elanco Animal Health Incorporated (NYSE: ELAN) disclosed on Tuesday that its two facilities will be bought by TriRx Pharmaceutical Services Inc. The sites are situated in Shawnee, Kansas and Speke, UK. The addition of new sited will broaden the production imprint of TriRx. Moreover, it will add to its existing pharmaceutical facilities in Huntsville, Alabama, and Segré, France.
Elanco Animal Health has gained recognition as a global animal health leader devoted to revolutionizing and providing products and services to prevent and cure disease in farm animals and pets. Furthermore, the sale of the Shawnee and Speke facilities comprising the physical assets at both sites and the transfer of nearly 600 employees. The two firms have also inked long-term supply agreements for both sites to be able to proceed to manufacturing current Elanco products.
In addition to this, it has been disclosed that the sale of the Shawnee facility is anticipated to execute in the second half of 2021. On the other hand, the sale of Speke facility is anticipated to finalize by early 2022. TriRx revealed that these deals are an integral part of its long-term strategy to offer a unified capabilities in the Animal and Human Health markets to cater to the fast-growing market demands.
CEO of TriRx revealed that the firm is impressed by the high talent of people and resources at both sites. The firm is also exploring ways to buy additional customers at the sites to increase efficiency and utilization and to guarantee a long-term success.