Elanco Animal Health Stock Price, News & Analysis

Elanco Animal Health has appointed William F. Doyle, alongside Scott Ferguson and Paul Herendeen, to its Board of Directors. This expansion is part of a strategic move to enhance innovation and operational oversight, particularly following the Bayer Animal Health acquisition. The company will also establish a new Innovation, Science and Technology Committee and an independent Advisory Board to bolster R&D efforts. The Finance Committee's role was expanded to focus on operational initiatives and financial oversight, underlining Elanco's commitment to shareholder value creation amidst integration challenges.

Kindred Biosciences, Inc. (NASDAQ: KIN) announced a partnership granting Elanco Animal Health exclusive global rights to its monoclonal antibody, KIND-030, targeting canine parvovirus (CPV). KindredBio will receive an upfront payment of $500,000 and potential milestone payments totaling $16 million for development and $94 million in sales milestones. Currently, there are no approved treatments for CPV, which affects about 250,000 dogs annually in the U.S. This collaboration aims to enhance market access for KIND-030.

Elanco Animal Health has agreed to acquire exclusive global rights to KIND-030, a novel monoclonal antibody for treating and preventing canine parvovirus (CPV). This disease affects over 250,000 puppies annually in the U.S. and currently has no approved treatment. The agreement includes a $500,000 upfront payment and potential milestone payments tied to development success. The pivotal efficacy study for the therapeutic indication is expected to conclude in Q1 2021, enhancing Elanco's vaccine and therapeutics portfolio.

Elanco Animal Health (NYSE: ELAN) has chosen Indianapolis, Indiana, for its new global headquarters, a move designed to enhance operational efficiency following its acquisition of Bayer's animal health business. The state has provided a competitive incentive package involving retention of 1,600 jobs and the creation of over 570 new jobs in the next decade. The $100M campus is expected to yield cost savings and improve cash flow. Elanco aims to further its Innovation, Portfolio, and Productivity strategy while contributing positively to the local community and economy.

Elanco Animal Health (NYSE: ELAN) will host a virtual investor day on December 15, 2020, beginning at 10:00 AM ET. Presentations will be led by CEO Jeff Simmons and other executives, focusing on strategies for long-term shareholder value and 2021 financial guidance. The event will include a live Q&A session. Interested parties can register via the investor website, and a replay will be available for one year following the event.

Elanco Animal Health announced a public offering of 54,500,000 shares of its common stock at $30.25 per share, solely held by Bayer World Investments B.V. Bayer has granted underwriters an option to purchase an additional 8,175,000 shares. Elanco will not issue any shares nor receive proceeds from this offering, which is set to close around December 3, 2020. The offering will proceed under Elanco's existing registration statement with the SEC, with BofA Securities, Goldman Sachs, and Credit Suisse serving as joint book-running managers.

Elanco Animal Health announced a public offering of 54,500,000 shares of common stock, solely from Bayer World Investments B.V., an affiliate of Bayer AG, with an additional option for underwriters to purchase 8,175,000 shares. Elanco will not receive any proceeds from this sale, which is part of Bayer's divestment following its acquisition of Elanco's animal health business in 2020. The offering will utilize Elanco’s existing registration statement on Form S-3, with management by BofA Securities, Goldman Sachs, and Credit Suisse.

Elanco Animal Health (NYSE: ELAN) will participate in the 3rd Annual Evercore ISI Virtual HealthCONx Conference on December 1, 2020. CEO Jeff Simmons is scheduled for a virtual fireside chat at 1:00 p.m. ET. Investors can access the live audio webcast on the Events and Presentations section of Elanco's investor website, with a replay available for one year. Established nearly 70 years ago, Elanco focuses on innovation in animal health, delivering products to enhance the well-being of farm animals and pets while committing to sustainability and community impact.

Elanco Animal Health (NYSE: ELAN) reported Q3 2020 financial results, highlighting a 15% revenue increase to $889.6 million, bolstered by the Bayer Animal Health acquisition. Despite this, the company faced a net loss of $135 million due to rising operating costs associated with integration. Elanco plans to realize $275-$300 million in cost synergies by mid-2022, alongside significant restructuring measures affecting 900 positions. The company also received key product approvals, enhancing its Farm Animal portfolio, while adjusting Q4 2020 revenue guidance between $1,020 and $1,060 million, amid ongoing pandemic headwinds.