Elanco Animal Health Inc.
said Wednesday it has entered an agreement to acquire Kindred Biosciences Inc. KIN, +4.62% for about $440 million, adding three potential dermatology blockbusters to its pipeline. Under the terms of the deal, Elanco will pay $9.25 a share for each Kindred share owned, equal to a 52% premium based on the 30-day average closing price. The news sent Kindred shares up 45% in premarket trade.
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