Eli Lilly, the global pharmaceutical giant, is considering the sale of its animal health division, Elanco. In a statement, Eli Lilly said it was undertaking a “strategic review” of its Elanco animal health business, with a number of possibilities on the table.
The company said these possibilities included an initial public offering, merger, sale, or retention of the business. The pharma giant added it will provide an update on its plans for Elanco by the middle of 2018.
Eli Lilly chief executive David Ricks said Elanco had grown into one of the global animal health companies and had been an important driver of growth in the company’s overall business.
“Through acquisitions and organic growth, we've grown Elanco to a size and scale that now allows us to consider a variety of options to maximise future value," added Ricks.
Elanco Ireland
In 2016, Elanco reported sales of $3.2bn and accounts for about 15% of Eli Lilly’s overall business. Until recently, Elanco operated a manufacturing facility in Sligo, where over 100 people were employed.
However, the business incurred significant losses of up to €60m in 2015 and a decision was made to wind up Elanco’s Irish operations. The company closed the doors on its Sligo plant at the end of 2016.
Read more
Full coverage: Elanco
Eli Lilly, the global pharmaceutical giant, is considering the sale of its animal health division, Elanco. In a statement, Eli Lilly said it was undertaking a “strategic review” of its Elanco animal health business, with a number of possibilities on the table.
The company said these possibilities included an initial public offering, merger, sale, or retention of the business. The pharma giant added it will provide an update on its plans for Elanco by the middle of 2018.
Eli Lilly chief executive David Ricks said Elanco had grown into one of the global animal health companies and had been an important driver of growth in the company’s overall business.
“Through acquisitions and organic growth, we've grown Elanco to a size and scale that now allows us to consider a variety of options to maximise future value," added Ricks.
Elanco Ireland
In 2016, Elanco reported sales of $3.2bn and accounts for about 15% of Eli Lilly’s overall business. Until recently, Elanco operated a manufacturing facility in Sligo, where over 100 people were employed.
However, the business incurred significant losses of up to €60m in 2015 and a decision was made to wind up Elanco’s Irish operations. The company closed the doors on its Sligo plant at the end of 2016.
Read more
Full coverage: Elanco
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