Bayer sells Elanco Animal Health Unit for $ 7.6 billion

BERLIN – Bayer AG sells its animal health business to a US $ 7.6 billion US rival, part of the German drug and chemicals giant's plan to dispose of assets in the midst of mounting legal obligations from Roundup- herbicide.

to sell the unit to Elanco Animal Health Inc., based in Greenfield, Ind., Would create a new industry that is heavy in the industry to prevent and treat pets and livestock diseases. The combined company will have a market share of about 13%, making it the second largest animal health company …