Drugs that treat dogs and cats are some of Elanco’s fastest growing products, and the animal health company is poised to make that category even bigger through a deal to buy pet medicines developer Aratana Therapeutics.

Greenfield, IN-based Elanco (NYSE: ELAN) announced Friday an agreement to acquire Aratana (NASDAQ: PETX) in a stock deal valued at approximately $234 million. Aratana shareholders will receive Elanco shares equivalent to $4.75 per every Aratana share they own, according to the deal’s terms. That’s an approximately 40 percent premium to Aratana’s closing stock price on Thursday.

The deal also comes with a contingent… Read more »