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Elanco Animal Health has announced the FDA's completion of a multi-year review of Bovaer, a methane-reducing feed ingredient for dairy cattle, confirming its safety and efficacy. Bovaer can reduce methane emissions by about 30%, creating new revenue streams for dairy farmers through carbon credits. Elanco has also expanded its agreement with dsm-firmenich to distribute Bovaer across North America, including Canada and Mexico. This innovation aims to support climate-neutral dairy farming and meet the increasing demand for sustainable products. Bovaer is expected to generate significant value for farmers and the environment, potentially addressing global warming concerns through reduced greenhouse gas emissions.
Elanco Animal Health (NYSE: ELAN) announced its participation in the Stifel 2024 Jaws and Paws Conference, scheduled for May 29, 2024. Todd Young, Elanco's Executive Vice President and CFO, will engage in a fireside chat at 8:00 a.m. ET. Interested parties can access a live audio webcast through the 'Events and Presentations' section of Elanco's investor website. Additionally, a replay of the webcast will be available for 30 days post-event.
Elanco Animal Health reported revenue of $1,205 million and net income of $32 million in the first quarter of 2024. Adjusted EBITDA was $294 million, with adjusted EPS of $0.34. The company updated its full-year 2024 financial guidance, expecting revenue of $4,460 to $4,515 million and adjusted EPS of $0.88 to $0.96.