Eli Lilly (NYSE:LLY) announced plans to buy Johnson & Johnson’s (NYSE:JNJ) animal health unit, Janssen Pharmaceutica NV for an undisclosed amount.Janssen sells about 50 products for the care of livestock and pets.Lilly said that after the close of the deal, all Janssen animal health business employees with transfer to the company's Elanco unit.The deal still needs European regulatory approval.Eli Lilly has a potential upside of 2.4% based on a current price of $34.83 and an average consensus analyst price target of $35.65.