By Dean Seal
Elanco Animal Health has sold royalty and milestone rights for Xdemvy's human health applications to Blackstone-affiliated funds for $295 million.
The animal-medicine company said Monday that the proceeds from the sale will be used to pay off debt more quickly and lower its leverage ratio.
Elanco previously licensed the antiparasitic agent lotilaner to Tarsus Pharmaceuticals to explore its potential to serve unmet human health needs. In 2023, Xdemvy became the first lotilaner-based product approved for human use and the only federally-approved medicine that treats Demodex blepharitis, a common eyelid disease caused by Demodex mites.
The deal between Elanco and funds affiliated with Blackstone Life Sciences and Blackstone Credit & Insurance applies certain tiered royalties associated with U.S. net sales of Xdemvy from April of this year through August 2033, as well as certain commercial milestones.
Elanco still has the rights to all royalty payments on net sales outside of the U.S. and future human applications of lotilaner beyond ophthalmic solutions.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 05, 2025 07:14 ET (11:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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