Merck Animal Health announced the purchase of Elanco Animal Health's ( ELAN ) aquaculture business.Merck & Company ( MRK ) completed the acquisition of the aquaculture business part of Elanco Animal Health ( ELAN ) .

What Happened: Elanco completed the sale for about $1.3 billion in cash. Upon completion, Elanco expects to have between $1.05 billion and $1.1 billion available for debt paydown.

“With the completion of this acquisition, we are well positioned within the aquaculture industry with a robust and comprehensive portfolio across warm water, cold water, vaccines, anti-parasitic treatments, water supplements and nutrition,” said Rick DeLuca, president of Merck Animal Health.

In addition, Merk Animal Health now owns products including CLYNAV, a DNA-based vaccine that protects Atlantic salmon against pancreas disease and IMVIXA, an anti-parasitic sea lice treatment.

Related Link: Expert Outlook: Tango Therapeutics Through The Eyes Of 6 Analysts

MRK Price Action: At the time of writing, Merck ( MRK ) shares are trading 0.1% lower at $125.65, according to data from Benzinga Pro.

Image: Courtesy of Merck ( MRK ).