Elanco Animal Health Sells Xdemvy Royalties To Blackstone in $295 Million Deal

Elanco Animal Health Incorporated ELAN on Monday announced the sale of certain future tiered royalties and commercial milestones associated with Xdemvy (lotilaner ophthalmic solution) 0.25% for the human health application of lotilaner to Blackstone Life Sciences and Blackstone Credit & Insurance for $295 million in cash.The company will use the proceeds to accelerate debt reduction, positioning Elanco to achieve an expected net leverage ratio of 3.9x to 4.3x adjusted EBITDA by the end of 2025.Also Read: El ...