Aranta Therapeutics, a Leawood-based pet-pharmaceutical company, is being acquired by Elanco Health Animal Health, based in Indiana, for about $254 million, in a deal recently approved by the former’s shareholders. After the acquisition, Artana, which was ranked first in Ingram’s 2018 Corporate Report 100, will become an Elanco subsidiary.
Aratana, traded on the NASDAQ, reported a $6.8-million net loss during the first quarter, though that was an improvement from the $8.5 during the same year-ago period. Meanwhile, revenue continued to grow at the firm, coming in at $7.4 million, up from $4 million during the first quarter of 2018. As of March 8, the company had 79 full-time employees, according to its annual report.
Among its products are Entyce, a medication that helps increase dogs’ appetites and pain medications Notcita and Galliprant. It has announced five FDA approvals of its products.
Elanco, traded on the NYSE, is reportedly in talks with Bayer AG to merge the two companies’ pet-health businesses.