Elanco Animal Health (ELAN) said Friday it acquired a contract manufacturing facility and related assets in Speke, UK, previously owned by TriRx Speke, which was undergoing an insolvency process.
The company said it had a long-term supply agreement with TriRx for this facility and provided interim funding during the insolvency process and paid $25 million in cash to complete the acquisition.
Elanco will take ownership of the Speke facility immediately and will work closely with the site leadership to support operations, the company said, adding that it expects adjusted earnings before interest, taxes, depreciation, and amortization headwind related to this situation of $25 million to $35 million in 2025, primarily affecting gross profit.
Shares of Elanco Animal Health fell nearly 2% in recent trading.
Price: 13.81, Change: -0.23, Percent Change: -1.67
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