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Bayer sells animal health division to Elanco

The $7.6 billion deal is expected to be completed in mid-2020 and is subject to customary closing conditions

New private equity owner plans to create standalone company.

Expands reach in acne, fungal skin infections and rosacea and to international markets.

$550 million deal announced for iconic sun care brand.

Dr Scholl's and Coppertone are among the consumer brands to be sold by the German company.

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