HESKA Corp., a provider of veterinary diagnostic and specialty products, announced June 24 the sale of certain non-core assets related to bovine and feline vaccine production to Elanco Animal Health, a division of Eli Lilly & Co.
Heska said it does not anticipate any change in its current bovine and feline vaccine production at its wholly owned facility in Des Moines, Iowa, as a result of the agreement with Elanco. Financial terms were not disclosed.
"We are pleased to announce our first formal relationship with Elanco, the fourth-largest animal health company in the world. Elanco has demonstrated their commitment to establishing a strong position in animal vaccines," said Michael McGinley, Heska president, pharmaceuticals and biologicals. "Heska had a limited direct involvement in the market segments covered under this agreement. The sale of these assets will strengthen our balance sheet and allow us to invest in areas more closely aligned with our strategic focus as well as offer potential future opportunities for our Other Vaccines, Pharmaceuticals & Products business segment."
Heska sells advanced veterinary diagnostic and other specialty veterinary products, including diagnostic instruments and supplies as well as single-use, point-of-care tests, pharmaceuticals and vaccines. Its core focus is on the canine and feline markets.