Elanco Animal Health Stock Price, News & Analysis

Elanco Animal Health (NYSE: ELAN) will participate in the Credit Suisse 29th Annual Virtual Healthcare Conference on November 9, 2020. CEO Jeff Simmons is set to engage in a virtual fireside chat at 3:30 p.m. ET. A live audio webcast will be accessible on Elanco's investor website, with a replay available for about a year. With nearly 70 years in animal health, Elanco focuses on innovating products for farm animals and pets, promoting overall animal health, and contributing to community welfare.

Elanco Animal Health announces FDA approval for Elura™ (capromorelin oral solution), a treatment for weight loss in cats with chronic kidney disease (CKD). This approval marks a significant addition to Elanco's feline product line, addressing a critical need as CKD leads to weight loss in aging cats. In a pivotal study, over 80% of treated cats gained weight, significantly more than controls. Elura is the first of its kind, utilizing a novel mechanism to stimulate appetite and aid weight gain.

Elanco Animal Health Incorporated (NYSE: ELAN) has received an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase up to 4 million shares, representing about 1% of Elanco's outstanding shares. The offer price of $26.45 per share is approximately 4.5% below Elanco's last closing price of $27.70 on October 2, 2020, and around 21.7% lower than the $33.79 closing price on October 12, 2020. Elanco advises shareholders not to tender their shares, citing that the offer price is below market value and urges them to withdraw if they have already tendered their shares.

Elanco Animal Health (NYSE: ELAN) is set to release its third-quarter 2020 financial results on November 6, 2020. The company will host a conference call at 8:00 a.m. ET to discuss its performance with investors, media, and the public. A live webcast will be available on Elanco's website, along with a replay after the call. As a leader in animal health, Elanco focuses on innovative solutions for preventing and treating diseases in animals, aiming to enhance health and well-being for both animals and their owners.

Elanco Animal Health (NYSE:ELAN) announced its first restructuring post-Bayer Animal Health acquisition, planning to cut over 900 jobs across 40 countries, mainly in Sales and Marketing. The company aims to enhance efficiency and reduce duplication, projecting $275-$300 million in synergies, with initial savings of $100 million in annual compensation. Elanco has initiated a $100 million repayment on its $4.275 billion term loan, indicating a commitment to de-leverage amidst strong cash flow. Restructuring costs are estimated between $190 million to $210 million, with significant charges expected in Q3 and Q4 2020.

AgBiome has appointed Dr. Marijn Dekkers as its new advisor, enhancing its leadership team as it executes its growth strategy. Dr. Dekkers, founder of Novalis LifeSciences and former CEO of Bayer AG, brings extensive experience in the life sciences sector. He commended AgBiome's progress in commercializing biological products aimed at sustainable agriculture. AgBiome leverages its GENESIS™ platform for crop protection innovations and has strategic partnerships, including one with Elanco Animal Health, aiming to address significant market opportunities.

AgBiome has appointed Jason Kuhlemeier as the new Vice President of Marketing. Bringing extensive experience from his roles at BASF and Bayer, Kuhlemeier is expected to enhance AgBiome's growth trajectory. The company focuses on innovative agricultural solutions, particularly through its proprietary GENESIS discovery platform, which develops biological products for crop protection. AgBiome has also formed a strategic partnership with Genective to capitalize on the $5 billion insect traits market and collaborates with Elanco Animal Health for nutritional health solutions.

AgBiome has announced the appointment of Gerald Coward as its new Chief Financial Officer, effective immediately. Coward brings nearly three decades of experience in finance and strategic leadership from the food, agriculture, and consumer goods sectors. His role will focus on supporting AgBiome's growth and product expansion. The company is recognized for its innovative approach to agricultural solutions, including the recent launch of the Howler fungicide and a global R&D collaboration with Elanco Animal Health (NYSE: ELAN) aimed at developing nutritional health products for swine.

AgBiome has secured a new patent for its Connate product line, strengthening its intellectual property (IP) protection around innovative agricultural products. The Connate products will enhance the existing Howler fungicide by reducing chemical residues while maintaining efficacy. AgBiome holds 264 pending patent applications and 28 granted patents, asserting a robust position in the crop protection sector. The company continues to innovate through its GENESIS platform, discovering and developing microbial solutions to improve agricultural practices.