Elanco Animal Health Incorporated (NYSE: ELAN) and Kindred Biosciences, Inc. (KindredBio,NASDAQ: KIN) today announced the parties have entered into a definitive agreement for Elanco to acquire KindredBio, a biopharmaceutical company focused on developing novel pet therapeutics based on validated human targets. The acquisition further accelerates Elanco's expansion in the attractive pet health market, particularly advancing Elanco's presence in the fast-growing billion-dollar dermatology category.
Kindred Biosciences (NASDAQ:KIN) +8.8% after-hours on news the Food and Drug Administration's Center for Veterinary Medicine approved Zimeta (dipyrone injection) for the control of pyrexia in horses.
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