Editorial: Lilly spinoff wasting no time in quest for global growth
So far, Elanco has been a textbook case for the benefits of spinoffs—for both the parent company divesting the business and the division gaining its independence.
Elanco
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Elanco to cut 900 jobs in 40 countries following Bayer acquisition
The layoff is the first step in what is expected to be a major restructuring following Greenfield-based Elanco’s $6.9 billion acquisition of German conglomerate Bayer AG’s animal-health division.
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Elanco’s big job: Making the Bayer deal work
Now that the company has closed its $6.9 billion acquisition of the German conglomerate’s animal-health division, it must now swiftly and carefully integrate the two sprawling companies in the midst of a pandemic.
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Lilly spin-off putting nearly 1,200 acres up for auction by Greenfield
The land formerly was owned by Eli Lilly and Co. and then was included in Elanco’s 2018 spin-off from the pharmaceutical company.
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Elanco to reduce global workforce by 4.3%
The company is eliminating 250 jobs as part of a restructuring that’s expected to result in at least $12 million in savings in 2020.
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Articles
Elanco gets U.S. regulatory approval for $7.6B Bayer acquisition
Shares in Elanco rose 2.8% Wednesday morning after the approval was announced, to $24.13 each.
Elanco receives European OK for $7.6B acquisition
The Greenfield-based company, which spun off from Eli Lilly and Co. in 2018, said it expects the deal to close in early August.
2019 YEAR IN REVIEW: Elanco strikes $7.6B deal for Bayer’s animal-health unit
The deal, which is expected to close by mid-2020, will swell Elanco from the world’s fourth-largest animal health player to the second-largest, behind only New Jersey-based Zoetis.
Elanco stock sinks sharply after it announces $7.6B deal to acquire Bayer unit
Investors appeared to be nervous over the rich price of the deal and the amount of debt that Elanco will take on to finance it.
Elanco says it’s buying Bayer division for $7.6 billion
The purchase would swell Elanco from the world’s fourth-largest animal health player to the second-largest, behind only New Jersey-based Zoetis.
Elanco in advanced talks to buy Bayer animal-health unit, report says
The multibillion-dollar deal would swell the size of Elanco, which already is the fourth-largest global player in animal health.
Elanco in merger talks with pharmaceutical giant Bayer, sources say
The multibillion-dollar merger would combine Elanco, the fourth-largest global player in animal health, with Bayer’s pet-health division, which ranks fifth in veterinary medicine, Reuters reported. The combination would create a dominant force in the industry.
Elanco agrees to buy pet-drug developer for $234 million
Kansas-based Aratana Therapeutics has three treatments approved by the U.S. Food and Drug Administration and is working on drugs for a range of disease fields, including cancer.
Elanco plans job cuts, $37M restructuring charge
The Greenfield-based company, which staged its initial public offering in September, said the restructuring is intended “to streamline its international operations."
Elanco shares lowest since IPO after failing to get consensus buy rating
Shares in Elanco Animal Health Inc. slipped as much as 3.3 percent Monday morning after lead managers and other banks involved in its recent initial public offering started coverage on the animal health company.
The case for (and against) investing in Elanco Animal Health
Investors hope Greenfield-based Elanco—the No. 4 animal health company in the world—will be the next Zoetis, the former animal-health division of Pfizer, which has nearly tripled in value since going public in 2013.
UPDATE: Elanco shares rise 50 percent in first day after $1.5B animal-health IPO
The Eli Lilly and Co.-owned animal medicine maker’s shares rose to $36 each at closing Thursday, up from their $24 offering price.
Lilly’s Elanco animal-health business raises $1.5 billion in IPO
Greenfield-based Elanco Animal Health Inc. raised more than expected in its initial public offering, pricing its shares above the marketed price range.
Lilly’s Elanco spinoff expected to raise up to $1.45 billion in IPO
The Greenfield-based animal health unit is gearing up for independence after 65 years as part of drugmaker Eli Lilly and Co. But Elanco has been struggling, and top management will have to work hard to stabilize the operation.
Eli Lilly’s animal-health business files for initial public offering
Elanco Animal Health Inc. could see a market value of as much as $20 billion, according to Bloomberg Intelligence. At that valuation, a share sale could raise as much as $5 billion.
Lilly plans IPO for Elanco animal-health unit
The Indianapolis-based pharmaceutical company said the division’s headquarters would remain in Greenfield after the spinoff and that no job cuts are planned.
Private equity firms mull bids for Eli Lilly’s Elanco unit
The Indianapolis pharmaceutical giant is evaluating whether to keep the division, which makes animal-health products, or sell it or take it public. An analyst said it might fetch $16 billion.
Elanco uncertainty has Greenfield on edge
Since October, when Eli Lilly and Co. announced it was reviewing whether to sell or spin off Elanco, Greenfield city leaders have been wondering what the future holds for the city’s economy.