New York, October 05, 2016 -- Moody's Investors Service commented that Eli Lilly & Co.'s acquisition of animal vaccine products from Boehringer Ingelheim Vetmedica for approximately $885 million is credit negative. This reflects modest erosion in Lilly's credit metrics stemming from higher debt levels and no earnings accretion from the acquisition until 2018. There is no impact on Lilly's ratings including the A2 senior unsecured rating or Prime-1 short-term rating, or the stable rating outlook. The transaction leaves Lilly with limited cushion for debt-financed acquisitions at the current rating level.

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