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Stock Alert: Elanco Animal Health Climbs 6% On Deal With TriRx Pharma

Shares of pharmaceutical company Elanco Animal Health Inc.(ELAN) are up 6 percent on Tuesday's trading as the company announced an agreement with TriRx Pharmaceutical Services Inc., for the sale of Elanco's two facilities at Shawnee, Kansas and Speke, UK.

The sale of the Shawnee and Speke facilities is inclusive of all 600 employees and the physical assets at both locations. Long-term supply agreements for both facilities to keep on manufacturing existing Elanco products have also been signed.

With this takeover, TriRx Pharmaceuticals plans to boost its current pharmaceutical facilities in Huntsville, Alabama and Segré, France.

Trading now at $35.80, ELAN has traded between $20.55 and $36.53 during the past 52 weeks.

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