Elanco Animal Health Incorporated (ELAN)

Elanco Animal Health Commits to Supporting U.S. Livestock Producers and Pet Owners in Fight Against New World ScrewwormJune 4, 2026 6:26 AM
PR Newswire (US) Company offers portfolio of treatment options and expert guidance following first confirmed case in the United States New World screwworm has officially reached the United States, with the first confirmed case in U.S. livestock in Texasi New World screwworm can infest any warm-blooded animals – including livestock and pets – posing a significant threat to animal health, welfare, and producer livelihood Elanco offers a portfolio of options for both livestock and pets that can treat infestations caused by New World screwworm larvae INDIANAPOLIS , June 4, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today reaffirms its commitment to providing veterinarians, livestock producers, and pet owners with resources and treatment options for their animals against the escalating threat posed by New World screwworm (NWS). The fly recently reached the United States, with the first case confirmed in U.S. livestock in Texas.i  The emergence of New World screwworm in the U.S. creates a threat for veterinarians, livestock producers and pet owners that has not been seen north of the Florida Keys since the fly was eradicated from the United States more than 50 years ago.ii New World screwworm (Cochliomyia hominivorax) larvae feed on living tissue and can affect a wide range of warm-blooded animals, including livestock, companion animals, wildlife, and even humans.ii "New World screwworm could have a devastating impact on animal health, welfare, and producer livelihoods," said Jeff Simmons, President and CEO, Elanco Animal Health. "We want to thank the FDA, EPA and USDA, for all their work to prepare for this threat. We're committed to supporting our customers during this challenging time by delivering innovation, scientific expertise, and available resources to help treat New World screwworm and support the health and well-being of animals." With more than 70 years of animal health experience, including helping mitigate, prevent and treat New World screwworm in other parts of the world, Elanco is working alongside the U.S. animal health industry to help them fight against this parasite, offering a portfolio of options for pets and livestock that can help treat New World screwworm larvae infestations. Available Elanco Treatment and/or Prevention Options  Product Name Indication  Species Regulatory Status Credelio Quattro™- A1 (lotilaner, moxidectin, praziquantel, and pyrantel chewable tablets) Treats New World screwworm larvae infestations Dogs FDA Conditional Approval Credelio™ (lotilaner) Treats New World screwworm larvae infestationsDogs FDA Emergency Use Authorization (EUA) Credelio™ CAT (lotilaner) Treats New World screwworm larvae infestationsCats FDA Emergency Use Authorization (EUA) Negasunt™ Powder (coumaphos, propoxur, and sulfanilamide topical powder) Treats and Prevents New World screwworm larvae infestationsVariety of Livestock and other SpeciesFDA Emergency Use Authorization (EUA) Tanidil™ (Coumaphos, Propoxur) Prevents and Controls New World screwworm larvae infestations Variety of Livestock and other Species EPA Section 18 Emergency Exemption Catron® IV (Permethrin) Kills and controls screwworm fly and maggots Livestock EPA Approved Negasunt Powder and Tanidil?will be available only through the U.S. Animal Plant Health and Inspection Service (APHIS) and?its National Veterinary Stockpile. They will be distributed in coordination with state animal health officials and federally recognized tribal agencies. In the near future, APHIS will share?additional?information about the requirements for use, including tracking and reporting requirements and?required?safety and personal protective equipment. As New World screwworm enters the United States, Elanco is committed to working alongside producers as they continuously evolve management practices and to help them implement prevention and treatment protocols to use the right product at the right time. To learn more about Elanco's ongoing efforts and historical perspective on New World screwworm, please visit our previous coverage: Elanco's Negasunt™ Powder (Coumaphos, Propoxur, Sulfanilamide Topical Powder) and Tanidil™ (Coumaphos, Propoxur) Receive Emergency Authorization for Use Against New World Screwworm in Livestock Elanco's Credelio Quattro™-CA1 (lotilaner, moxidectin, praziquantel, and pyrantel chewable tablets) Receives First FDA Conditional Approval for Treatment of New World Screwworm in Dogs Elanco's Credelio™ CAT (lotilaner) Receives First FDA Emergency Use Authorization (EUA) for Treatment of New World Screwworm (NWS) in Cats Elanco's Credelio™ (lotilaner) Receives First Ever FDA Emergency Use Authorization (EUA) against New World Screwworm (NWS) in Dogs To learn more about New World screwworm (NWS) using the following resources: USDA NWS Alert and Fact Sheet NCBA NWS Resources FDA Information for Veterinarians on NWS About Elanco Animal Health Elanco Animal Health Incorporated is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com. Indications for Credelio Quattro/Credelio Quattro-CA1 Credelio Quattro is indicated for the prevention of heartworm disease and the treatment and control of roundworm, hookworm, and tapeworm infections. Credelio Quattro kills adult fleas and is indicated for the treatment and prevention of flea infestations and the treatment and control of tick infestations for 1 month in dogs and puppies 8 weeks of age and older and weighing 3.3 pounds or greater. Credelio Quattro is indicated for the prevention of Lyme disease infections as a direct result of killing black-legged ticks. Credelio Quattro-CA1 is conditionally approved for the treatment of infestations caused by New World screwworm (NWS) larvae in dogs and puppies 8 weeks of age and older and weighing 3.3 pounds or greater. Important Safety Information for Credelio Quattro/Credelio Quattro-CA1 Lotilaner, an ingredient in Credelio Quattro/Credelio Quattro-CA1, belongs to the isoxazoline class and has been associated with neurologic adverse reactions like tremors, incoordination, and seizures even in dogs without a history of seizures. Use with caution in dogs with a history of seizures or neurologic disorders. Dogs should be tested for existing heartworm infections before Credelio Quattro/Credelio Quattro-CA1 administration as it is not effective against adult heartworms. The safe use in breeding, pregnant, or lactating dogs has not been evaluated. The most frequently reported adverse reactions in clinical trials were vomiting and diarrhea. Credelio Quattro-CA1 is conditionally approved by the FDA pending a full demonstration of effectiveness under application number 141-619. If you suspect that your dog is infested with NWS larvae, seek veterinary care immediately for treatment to include removal of larvae and appropriate wound care. For complete safety information, please see the Credelio Quattro/Credelio Quattro-CA1 product label or ask your veterinarian. Emergency Use Authorization of Credelio (lotilaner) Chewable Tablets for New World Screwworm (NWS) The U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for the emergency use of the approved product Credelio (lotilaner) chewable tablets for the treatment of infestations caused by NWS (Cochliomyia hominivorax) larvae (myiasis) in dogs and puppies. Credelio is not approved for this use. Credelio (lotilaner) is approved for other uses in dogs and puppies. For additional information on the EUA, please refer to the Credelio NWS Fact Sheet. Limitations of Authorized Use Credelio (lotilaner) chewable tablets is authorized for this use only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of Credelio (lotilaner) chewable tablets under section 564(b)(1) of the Federal Food, Drug, and Cosmetic Act (FD&C Act), 21 U.S.C. § 360bbb-3(b)(1), unless the authorization is terminated or revoked sooner. Indications for Credelio Credelio kills adult fleas and is indicated for the treatment and prevention of flea infestations and treatment and control of tick infestations (lone star tick, American dog tick, black-legged tick, brown dog tick, and longhorned tick) for one month in dogs and puppies 8 weeks and older and 4.4 pounds or greater. Credelio is indicated for the prevention of Lyme disease infections as a direct result of killing black-legged ticks. Important Safety Information for Credelio Lotilaner is a member of the isoxazoline class of drugs. This class has been associated with neurologic adverse reactions including tremors, incoordination, and seizures. Seizures have been reported in dogs receiving this class of drugs, even in dogs without a history of seizures. Use with caution in dogs with a history of seizures or neurologic disorders. The safe use of Credelio in breeding, pregnant or lactating dogs has not been evaluated. The most frequently reported adverse reactions are weight loss, elevated blood urea nitrogen, increased urination, and diarrhea. For complete safety information, please see Credelio product label or ask your veterinarian. Emergency Use Authorization for Credelio CAT (lotilaner) for New World Screwworm (NWS) The U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for the emergency use of the approved product Credelio CAT (lotilaner) for the treatment of infestations caused by NWS (Cochliomyia hominivorax) larvae (myiasis) in cats and kittens. Credelio CAT is not approved for this use. Credelio CAT is approved for other uses. For additional information on the EUA, please refer to the Credelio Cat NWS Fact Sheet. Limitations of Authorized Use Credelio CAT (lotilaner) is authorized for this use only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of Credelio CAT (lotilaner) under section 564(b)(1) of the Federal Food, Drug, and Cosmetic Act (FD&C Act), 21 U.S.C. § 360bbb-3(b)(1), unless the authorization is terminated or revoked sooner. Indications for Credelio CAT Credelio CAT kills adult fleas and is indicated for the treatment and prevention of flea infestations for one month in cats and kittens 8 weeks of age and older and weighing 2 pounds or greater. Credelio CAT is also indicated for treatment and control of black-legged tick infestations for one month in cats and kittens 6 months of age and older and weighing 2 pounds or greater. Important Safety Information for Credelio CAT Lotilaner is a member of the isoxazoline class of drugs. This class has been associated with neurologic adverse reactions including tremors, incoordination and seizures. Neurologic adverse reactions have been reported in cats receiving isoxazoline class drugs, even in cats without a history of neurologic disorders. Use with caution in cats with a history of neurologic disorders. The safety of Credelio CAT has not been established in breeding, pregnant and lactating cats. The effectiveness of Credelio CAT against black-legged ticks in kittens less than 6 months of age has not been evaluated. The most frequently reported adverse reactions are weight loss, rapid breathing and vomiting. For complete safety information, please see Credelio CAT product label or ask your veterinarian. Emergency Use Authorization of Negasunt Powder (coumaphos, propoxur, and sulfanilamide topical powder) for New World Screwworm (NWS) WARNING: Neurotoxicity. Read full Fact Sheet for complete information. Coumaphos and propoxur can cause neurotoxicity. May be fatal if swallowed. May be fatal if inhaled. Harmful if absorbed through skin. Causes moderate eye irritation. Do not breathe dust. Avoid contact with eyes, skin, or clothing. Use only with appropriate personal protective equipment (PPE): coveralls worn over long-sleeve shirt and long pants, shoes, socks, and protective eyewear; chemical-resistant gloves made of  barrier laminate, butyl rubber (≥ 14 mils), nitrile rubber (≥14 mils), neoprene rubber (>14 mils), natural rubber (≥14 mils), polyethylene, polyvinyl chloride (PVC) ≥14 mils, or Viton (>14 mils); and a minimum of a NIOSH-approved elastomeric half mask respirator consisting of protection factor (PF) 10 fitted with organic vapor (OV) cartridges and combination  R or P filters; or a NIOSH-approved gas mask with OV canisters; or a NIOSH-approved powered air purifying respirator with OV cartridges and combination HE filters. This product is toxic to mammals, birds, fish, and aquatic invertebrates. The U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for the emergency use of the unapproved product Negasunt Powder for the prevention and treatment of infestations caused by New World screwworm (Cochliomyia homnivorax) larvae (myiasis) in cattle, swine, goats, sheep, horses, donkeys, domestic hybrid equids, and captive wild, exotic, and zoo mammals. Negasunt Powder is not approved for this use. For use by employees of federal, state, local, and federally recognized tribal agencies, and persons working under their authority and at their direction. Also for use by or on the order of a licensed veterinarian in NWS infested zones and adjacent surveillance zones as defined by the U.S. Department of Agriculture (USDA). For additional information on the EUA and for complete safety information, please refer to the?Negasunt Powder NWS Fact Sheet. Limitations of Authorized Use It is a violation of federal law to use this drug product other than as directed in the authorized Fact Sheet. Treated animals must not be slaughtered for human consumption within 28 days of the last treatment. A milk discard time has not been established for this product; do not use in animals producing milk for human consumption. A withdrawal period has not been established for this product in pre-ruminating calves; treated calves and calves born to treated cows must not be processed for veal. Do not use in horses intended for human consumption. Do not use in domestic indoor pets (e.g., dogs, cats, rodents, rabbits) nor in residences. Do not use in birds. Do not use in free-ranging wildlife. To avoid overexposure, each individual person cannot treat more than 3 large wounds (>2?inches diameter) a day or more than 30 small superficial wounds (≤2 inches diameter) a day (or an equivalent thereof) with Negasunt Powder or any other coumaphos-containing products. Negasunt Powder is authorized for this use only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of Negasunt Powder under section 564(b)(1) of the Federal Food, Drug, and Cosmetic Act (FD&C Act), 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or the authorization is revoked sooner. Federal law prohibits the extra-label use of this drug. Additional Important Safety Information 
Not for use in humans. Keep out of reach of children. Only handlers wearing required PPE may be in the area during application. Do not apply in a confined, non-ventilated area; provide thorough ventilation. Call a poison control center or doctor immediately for treatment advice if Negusant Powder is swallowed, inhaled, on skin or clothing, or in eyes. Sulfonamides are contraindicated in animals that are hypersensitive to them and in animals with severe renal or hepatic impairment. For external use only on animals. Do not contaminate water, feed, troughs, feed handling equipment, or milk or meat handling equipment. Use with caution in very young, weak, or debilitated animals. In the case of overdose,?treat with atropine sulfate or pralidoxine chloride (2-PAM) as soon as possible. The most common adverse reactions associated with organophosphate and carbamate toxicity in animals include frequent urination and defecation, muscle twitching, and watering eyes. Important Information about Tanidil 
Tanidil™ is an unregistered product for distribution and use only under a Section 18 emergency exemption. The Section 18 labeling must be in the possession of the user at the time of pesticide application. This product may only be used to prevent or control New World screwworm in and on animal wounds on labeled animal host species. For use only by federal, state, local, and federally recognized tribal agencies, and persons working under their supervision; personnel at quarantine stations and areas; veterinarians; veterinarians or certified applicators at livestock and game facilities, zoos, wildlife facilities, animal rehabilitation centers; and wildlife professionals. Read the entire label. This product must be used strictly in accordance with this label's precautionary statements and use directions, as well as with all applicable state and federal laws and regulations. Please visit the Tanidil fact sheet for more information. Use Period: This exemption is effective on April 27, 2026 and expires on April 27, 2029. No applications of Tanidil may be made under the emergency exemption before its effective date or after its expiration date. Credelio, Credelio Quattro, Negasunt, Tanidil, Catron, Elanco and the diagonal bar logo are trademarks of Elanco or its affiliates. © 2026 Elanco or its affiliates Investor Contact: Tiffany Kanaga (765) 740-0314 tiffany.kanaga @TexasTed?colleen.dekker @sweetpete1 mika.takahashi @wasrocknroll season.solorio@elancoah.com??  View original content to download multimedia:https://www.prnewswire.com/news-releases/elanco-animal-health-commits-to-supporting-us-livestock-producers-and-pet-owners-in-fight-against-new-world-screwworm-302791124.htmlSOURCE Elanco Animal Health Original: Elanco Animal Health Commits to Supporting U.S. Livestock Producers and Pet Owners in Fight Against New World Screwworm

New Research Reveals Pet Spending as a "Protected Budget Item" for Owners, Fueling Industry ResilienceJune 3, 2026 7:26 AM
PR Newswire (US) INDIANAPOLIS, June 3, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN), a global leader in animal health, today released new consumer research showing pet owners continue to prioritize spending on their pets, underscoring the robust and resilient nature of the industry. According to Elanco's latest survey of 1,409 U.S. pet owners conducted May 29-31, even with rising costs across spending categories including higher gas prices, pet health and wellness remain an absolute priority for pet owners as a protected budget item.Stable Expectations for Pet Owner Spend: 91% of pet owners have at least maintained their spending on pet health and wellness products in recent years, with 38% of pet owners increasing spend. This remains stable with February research prior to rising fuel prices.Increasing Pet Care Spend Despite Rising Costs of Living: 31% of pet owners say they've increased spending on their pets' health and wellness in the past three months, despite increasing economic challenges. Further, 90% of pet owners expect their spending to stay the same or increase (37%) in the year ahead.  Pet Health & Wellness as a Top Priority and Core Expenditure: 95% of pet owners see pet health and wellness care as a priority that they will not reduce due to economic pressure. Even when consumers face personal financial challenges, they are willing to cut spending on themselves – dining out, travel – before their pets. In fact, pet health and wellness was the last item in the surveyed categories that consumers would cut if required to reduce expenses. Elanco's latest research reveals a powerful and enduring shift in consumer behavior shaped by a new kind of pet owner – one who is more engaged, more informed and more empowered than ever before. Pets are no longer just companions – they're family. With fewer kids and more pets, pet owners are demonstrating an increased expectation of care and desire for longer, healthier lives for their pets. This profound commitment translates directly into a strong and durable willingness to invest in their wellbeing, with 88% of pet parents saying their pet's happiness and wellbeing is as important as their own."Our research consistently shows that pet care is not a discretionary expense; it's a deeply emotional and highly prioritized investment for pet parents," said Bobby Modi, Executive Vice President, U.S. Pet Health and Digital Transformation. "Pet owners are demonstrating an unwavering commitment to their animals' health, driving demand for innovative, high-quality solutions. This fundamental consumer trend underpins the resilience and growth potential of the companion animal industry, and Elanco is strategically positioned to capitalize on it."These findings reinforce the broader industry data showing the animal health industry is one of the most compelling and resilient sectors, with a 20-year track record of continual growth, averaging about 5% annually. Elanco estimates the industry expanded by 7% in 2025. Deep consumer commitment to pets and a surging demand for animal protein are driving sustained growth. With a long runway ahead, the animal health industry is projected to grow from $42 billion in 2025 to $60 billion in the next decade.Key pet health trends further amplify this opportunity:Omnichannel Access & Convenience: Modern pet owners seek convenience and diverse access points for care. While vet visit volumes may fluctuate, spending on vet services continues to grow, indicating a strong willingness to spend on innovation. Further, approximately 40% of pet care sales are subscription-based. Additionally, many consumers spend outside the vet clinic. The 2024 APPA National Pet Owners Survey indicated approximately one-third of all dog and cat owners didn't take their pet to a veterinarian in the previous year. Elanco is well-positioned with an omnichannel approach to meet pet owners where, when, and how they choose to engage.Comprehensive Portfolios & Innovation: Pet owners are willing to spend on innovation, which creates the value that drives industry pricing. Elanco is well-positioned with its market-leading growth in U.S. Pet Health through a basket of innovation, #1 standing in OTC1 and status as just one of two industry providers with a complete portfolio.Expanding Diagnostic Opportunities: Currently, only one in five pet visits includes diagnostics, meaning the true spectrum of disease is often unknown. As diagnostics expand what can be detected, and AI accelerates what can be learned, the opportunity to improve pet health and drive value is substantial.Elanco remains committed to providing pet owners with a wide range of innovative solutions at a variety of price points where they want to shop, that deliver on pet owners' desire to help their pets live longer, healthier, more active lives.ABOUT ELANCO
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements concerning expected consumer trends, market dynamics and industry growth.  Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important risk factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, and additional factors that could cause actual results to differ materially from forward-looking statements described in the company's latest Form 10-K and Form 10-Qs filed with the Securities and Exchange Commission. We caution you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements that are included elsewhere in this press release. Any forward-looking statement made by us in this press release speaks only as of the date thereof. We undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.________________________________1 Internal estimates based on multiple data sources, as provided with our financial results reported on May 6, 2026Investor Contact: Tiffany Kanaga (765) 740-0314 tiffany.kanaga @TexasTed colleen.dekker@elancoah.com View original content to download multimedia:https://www.prnewswire.com/news-releases/new-research-reveals-pet-spending-as-a-protected-budget-item-for-owners-fueling-industry-resilience-302789399.htmlSOURCE Elanco Animal Health Original: New Research Reveals Pet Spending as a "Protected Budget Item" for Owners, Fueling Industry Resilience

Elanco Launches Befrena™ (tirnovetmab), New Anti-IL-31 Monoclonal Antibody, a Breakthrough Addition to the $1.3 Billion U.S. Canine Dermatology MarketMay 18, 2026 7:27 AM
PR Newswire (US) Phased launch of new anti-IL-31 monoclonal antibody is now underway, with product being used by select Early Experience Program veterinarians in clinics todayBefrena is effective for the treatment of dogs against allergic dermatitis and canine atopic dermatitis with no age or weight restrictions, and lasts 6 to 8 weeks, compared to the 4 to 8 weeks of the current market incumbent, lokivetmabStarts controlling itch within 24 hours and is given as an in-clinic injectionSelect Early Experience Program veterinarians are already using Befrena in clinical practice and seeing positive outcomesMeet Beaux, Penelope and Zephyr, the first early experience patients to receive Befrena and follow their journeys to itch reliefBefrena is Elanco's second monoclonal antibody to launch in the U.S. pet health market, joining Trutect™, the first and only approved therapeutic solution to treat canine parvovirus and has been shown to be effective for passive immunityINDIANAPOLIS, May 18, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today announced the phased launch of Befrena™ (tirnovetmab), a new anti-IL-31 monoclonal antibody (mAb) injection for treatment of canine allergic and atopic dermatitis. The launch comes at a key time, with a longer and more intense allergy season anticipated across the country this year.i With nearly 2 in 3 itchy dogs experiencing worse itch during allergy seasonii, Befrena expands Elanco's dermatology portfolio by offering a new treatment option that starts controlling allergic itch within 24 hours. By neutralizing IL-31, a key cytokine involved in sending itch signals to the brain, Befrena offers a differentiated 6 to 8 weeks dosing interval, providing veterinarians and pet owners with a new level of convenience and efficacy. Benefits of Befrena:  Offers at least 6 to 8 weeks of itch relief, in contrast to the 4 to 8 weeks of the current market incumbent, lokivetmabStarts controlling itch within 24 hoursGiven as an in-clinic injection administered by, or under the supervision of, a licensed veterinarianElanco received approval of Befrena from the U.S. Department of Agriculture (USDA) in December 2025, making it the company's second dermatology product, alongside Zenrelia™ (ilunocitinib tablets), to be approved and launched in the past two years.Elanco is also now the only pet health company with two USDA approved mAb products – Befrena and Trutect. Trutect is the first and only approved therapeutic solution to treat canine parvovirus."The commercial launch of Befrena into the $1.3 billion U.S. canine dermatology marketiii is another exciting milestone in our innovation journey," said Bobby Modi, Executive Vice President, U.S. Pet Health and Global Digital Transformation. "We are seeing positive results from our Early Experience Program veterinarians who have started using Befrena in their clinics and will continue to increase supply of this new monoclonal antibody, as we scale our bioreactors with the anticipated manufacturing ramp-up."Make Best Friends Better – Meet the First Dogs Treated with Befrena Nearly 9 in 10 dogs in the U.S. are "itchy dogs" according to their pet owners, having experienced symptoms of itch at any point throughout the yearii. Data in Elanco's America's Itchy Dogs Report also found that veterinarians say that itchy dog owners wait too long before bringing in their dog, resulting in raw and infected skin and an irritated dog owner who wants their dog to experience relief quickly.iiAs a part of the Befrena Early Experience Program, select veterinarians and veterinary dermatologists have already started using Befrena in their clinics and seen initial improvements in itchy dogs.Beaux from Austin, TX was the first dog treated with Befrena after experiencing significant hair loss due to his constant itch.According to Dr. Matt Lane at Liberty Animal Hospital at Beaux's 3-week checkup appointment, "Beaux is doing amazing, and his owner is excited to see his hair growing back. He stopped itching within 24 hours of receiving the injection and his owner and I are extremely pleased with the results."Penelope and Zephyr were also treated with Befrena at Gigi's Animal Shelter in Columbus, OH. Both dogs experience seasonal allergies that impact their behavior and quality of life and after discussing with their veterinarian both owners chose Befrena to control their dogs' itch."We want to get these dogs relief and make sure they have the most comfortable experience as possible, and I think Befrena shows some real promise for that," said Dr. Meghan Herron, Senior Director of Behavior, Research, and Education at Gigi's.Zephyr's owner is also a licensed veterinary technician at Gigi's and helped administer Zephyr's injection. You can follow along their journey below.https://elanco.wistia.com/medias/5nbmg3s2hk"I have been involved with two clinical trials and the Early Experience Program which has shown Befrena to be a highly safe and effective product," said Dr. Tom Lewis, veterinary dermatologist and founder of Dermatology for Animals, a group of veterinary dermatology clinics committed to caring for pets with allergies. "This will become a very important treatment option for many allergic dogs and I am excited to use Befrena in my clinic."*"I've used Befrena in a few patients so far and while it's still relatively early, I'm very optimistic and excited about what's going to happen with these cases," said Dr. Jason Pieper, veterinary dermatologist and tenured associate professor of dermatology at Iowa State University College of Veterinary Medicine. "I've had several patients respond very well including one unique case that has failed multiple other treatments for atopic dermatitis. And so far, two weeks after receiving Befrena, this dog's doing quite well, it's wonderful."*Learn more about Befrena and sign up for future news and webinars at www.befrenaforvets.com.*Drs. Pieper and Lewis are consultants for Elanco.ABOUT ELANCO
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com.INDICATIONS
Zenrelia is a prescription medication used to control itching and inflammation associated with skin allergies for dogs over 12 months of age.IMPORTANT SAFETY INFORMATION
Read the package insert, including the Boxed Warning, before using this drug. For full prescribing information speak with your veterinarian, call 1 888 545 5973 or visit www.elancolabels.com/us/zenrelia.WARNING: INADEQUATE IMMUNE RESPONSE TO VACCINES. Based on results of the vaccine response study, dogs receiving Zenrelia are at risk of an inadequate immune response to vaccines. Discontinue Zenrelia for at least 28 days to 3 months prior to vaccination and withhold Zenrelia for at least 28 days after vaccination. Dogs should be up to date on vaccinations prior to starting Zenrelia. Do not use in dogs less than 12 months old or dogs with a serious infection. Dogs should be monitored for infections because Zenrelia may increase the chances of developing an infection. Neoplastic conditions (benign and malignant) were observed during clinical studies. The most common side effects were vomiting, diarrhea and tiredness. Zenrelia has not been tested in dogs used for breeding, pregnant, or lactating dogs and has not been evaluated in combination with glucocorticoids, cyclosporine, or other immune suppressive drugs.Befrena, Zenrelia, Trutect, Elanco and the diagonal bar logo are trademarks of Elanco or its affiliates. © 2026 Elanco or its affiliatesPM-US-26-0849i Asthma and Allergy Foundation of America, (2026). 2026 Allergy Capitals. Retrieved from allergycapitals.org.
ii Elanco Animal Health. Data on File. REF-28442
iii Elanco Animal Health. Data on File. REF-29772Investor Contact: Tiffany Kanaga (765) 740-0314 tiffany.kanaga @wasrocknroll season.solorio@elancoah.com   View original content to download multimedia:https://www.prnewswire.com/news-releases/elanco-launches-befrena-tirnovetmab-new-anti-il-31-monoclonal-antibody-a-breakthrough-addition-to-the-1-3-billion-us-canine-dermatology-market-302774316.htmlSOURCE Elanco Animal Health Original: Elanco Launches Befrena™ (tirnovetmab), New Anti-IL-31 Monoclonal Antibody, a Breakthrough Addition to the $1.3 Billion U.S. Canine Dermatology Market

Elanco (ELAN) shares climb after strong quarterly results and higher full-year outlookMay 6, 2026 8:12 AM
IH Market News Elanco Animal Health (NYSE:ELAN) reported first-quarter results on Wednesday that exceeded Wall Street expectations, prompting the stock to rise more than 6% in premarket trading as the company lifted guidance across several key financial metrics.The animal health group posted adjusted earnings of $0.40 per share, beating analyst forecasts of $0.34 by $0.06.Revenue came in at $1.37 billion, ahead of consensus estimates of $1.28 billion and up 15% from the same period last year. On an organic constant-currency basis, sales increased 10% year over year. Innovation strategy continues to drive growth “Elanco’s strong first quarter results demonstrate the significant momentum of our innovation-led strategy,” said Jeff Simmons, president and chief executive officer of the company.“Organic constant currency revenue growth of 10% reflects outperformance across our diverse portfolio, including Zenrelia reaching trailing 4-quarter blockbuster status, and Credelio Quattro achieving accelerating market share gains.” Pet Health and Farm Animal divisions post double-digit growth Revenue from Elanco’s Pet Health business increased 12% to $710 million during the quarter.Meanwhile, the Farm Animal segment recorded revenue growth of 18%, reaching $642 million.Adjusted EBITDA rose 21% to $334 million, while the adjusted EBITDA margin improved to 24.5% from 23.1% in the prior-year quarter. Company raises 2026 guidance Elanco increased its adjusted earnings-per-share guidance for fiscal 2026 to a range of $1.03 to $1.09, compared with its previous forecast of $1.00 to $1.06.The midpoint of the updated range aligns with analyst consensus estimates.The company also lifted its full-year revenue outlook to between $5.01 billion and $5.09 billion, up from prior guidance of $4.95 billion to $5.02 billion.The midpoint of the revised forecast exceeded Wall Street expectations of approximately $5 billion. Leverage target improves as outlook strengthens Elanco also improved its year-end net leverage ratio target to between 3.0x and 3.2x adjusted EBITDA.For the second quarter, the company expects revenue in the range of $1.30 billion to $1.33 billion and adjusted earnings per share of $0.25 to $0.28.Elanco Animal Health Incorporated stock price Original: Elanco (ELAN) shares climb after strong quarterly results and higher full-year outlook

Elanco Animal Health Reports First Quarter 2026 ResultsMay 6, 2026 6:27 AM
PR Newswire (US) Raising Full Year Outlook and Innovation Target, Improving Year-End Net Leverage Ratio TargetFirst Quarter 2026 Financial Results:Revenue of $1,371 million, an increase of 15% year-over-year; 10% organic constant currency growthReported Net Income of $57 million, Adjusted Net Income of $204 millionAdjusted EBITDA of $334 million; Adjusted EBITDA Margin of 24.5%Reported EPS of $0.11, Adjusted EPS of $0.40Net leverage ratio of 3.5x Adjusted EBITDAFull Year 2026 Guidance:Raising innovation revenue target to $1.2 billionRaising revenue guidance to $5,010 million to $5,085 million, or 5% to 7% organic constant currency growthRaising Adjusted EBITDA to $975 million to $1,005 million, a year-over-year increase of 10% at midpointRaising Adjusted EPS of $1.03 to $1.09, a year-over-year increase of 13% at midpointImproving year-end net leverage ratio target to 3.0x to 3.2x Adjusted EBITDAINDIANAPOLIS, May 6, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today reported financial results for the first quarter of 2026, provided guidance for the second quarter of 2026, and updated guidance for the full year 2026. "Elanco's strong first quarter results demonstrate the significant momentum of our innovation-led strategy," said Jeff Simmons, President and CEO of Elanco. "Organic constant currency revenue growth of 10% reflects outperformance across our diverse portfolio, including Zenrelia reaching trailing 4-quarter blockbuster status, and Credelio Quattro achieving accelerating market share gains. All major species grew, driven by our basket of innovation and growth in our base business. We are improving our full year guidance across all key metrics, as our consistent execution is creating more ways for Elanco to win in this durable, attractive animal health industry."Select Business Highlights Since the Last Earnings CallCredelio Quattro™ accelerated dollar share gains of broad-spectrum sales out of U.S. vet clinics in Q1, up 3 points versus Q4**; penetrated over 40% of the U.S. clinic base; 53% share in U.S. clinics that carry Quattro, up 13 points in Q1 versus Q4**; launched in Australia and approved in Canada, both in AprilZenrelia™ achieved trailing 4-quarter blockbuster status; over 2 million dogs have been treated; efficacy driving use in over 50% of U.S. clinics with U.S. JAK market share up 5 points versus Q4**; over 50% share of JAK market in Brazil, over 35% share in Japan, and high-teens to 30%+ JAK market share in key European markets***Befrena™ phased launch approach on track, with product already shipped to early experience influencers and in use, and commercialization in the U.S. expected in Q2Added Costco and Dollar General as new retail customers for parasiticides in the U.S.Advantage® Collar for Dogs launched in April, providing four-month protection against fleas and ticks, available at pet specialty, dollar, grocery, and mass retailersClosed the previously announced acquisition of AHV International on April 30th**Per Kynetec data
***Internal estimates based on multiple data sourcesFinancial ResultsFirst Quarter Results(dollars in millions, except per share amounts)20262025Change (%)Organic CC
Growth (1) (%)




Pet Health$710$63512 %7 %Farm Animal$642$54618 %13 %Cattle$316$27216 %13 %Poultry$230$18922 %16 %Swine$96$8513 %9 %Contract Manufacturing and Other (2)$19$1258 %
Total Revenue$1,371$1,19315 %10 %Gross Profit$785$68415 %
Reported Net Income$57$67(15) %
Adjusted EBITDA$334$27621 %
Reported EPS$0.11$0.13(15) %
Adjusted EPS$0.40$0.378 %
(1) Organic CC Growth = Represents revenue growth excluding royalty revenue that was sold to a third party and the impact of foreign exchange rates.(2) Primarily represents revenue from arrangements in which we manufacture products on behalf of a third party and royalty revenue. Royalty revenue sold to a third party, to which we are no longer entitled but is still required to be recognized as revenue under GAAP, totaled $9 million for the three months ended March 31, 2026.In the first quarter of 2026, revenue was $1,371 million, an increase of 15% on a reported basis, or 10% on an organic constant currency basis, compared to the first quarter of 2025.Pet Health revenue was $710 million, an increase of 12% on a reported basis, or 7% on an organic constant currency basis. The year over year volume increase of 5% in the first quarter was primarily driven by new products, and the addition of two new retail customers benefitting parasiticides. The 2% increase from price was in line with the company's expectation. The Advantage® Family of products and Seresto® contributed revenue of $163 million and $159 million     , respectively.Farm Animal revenue was $642 million, an increase of 18% on a reported basis, or 13% on an organic constant currency basis. First quarter volumes were up 11%, driven by strong demand across all species, led by poultry and ruminants. Farm animal organic constant currency revenue growth included a 2% increase from price, compared to the first quarter of 2025.Gross profit was $785 million in the first quarter of 2026, and gross margin percentage was 57.3% in the first quarter of 2026 and 2025. On an adjusted basis, gross profit was $776 million and gross margin percentage was 57.0% in the first quarter of 2026, a 40 basis point decrease compared to the first quarter of 2025 as expected. The decrease in gross margin percentage on an adjusted basis was primarily driven by product mix with strong Farm Animal growth, the timing of inflation, and a flow through of higher inventory costs, partially offset by price and sales volume benefits.Total operating expenses were $478 million for the first quarter of 2026, an increase of 10% compared to the first quarter of 2025. Marketing, selling and administrative expenses increased 12% to $381 million, driven by higher compensation expense, foreign currency exchange rate movements and strategic investments in the global launches of new products, partially offset by decreased expenses in certain general and administrative expenses. Research and development expenses increased 3% to $97 million driven primarily by foreign exchange rates.Asset impairment, restructuring and other special charges were $16 million in the first quarter of 2026, compared to $9 million in the first quarter of 2025. Charges recorded in the first quarter of 2026 primarily related to $15 million of non-cash shut-down costs for the animal studies portion of our R&D facilities in Monheim, Germany. Charges recorded in the first quarter of 2025 primarily consisted of upfront payments made in relation to new licensing arrangements.Reported net interest expense was $57 million in the first quarter of 2026, an increase of $17 million compared to the first quarter of 2025. The increase was principally due to imputed interest on our liability for sale of future revenue of $14 million, as well as interest expense related to our corporate headquarters finance lease, partially offset by lower average debt balances. Adjusted net interest expense, which excludes this imputed interest, was $43 million in the first quarter of 2026, an increase of $3 million compared to the first quarter of 2025.The reported effective tax rate was 34.6% in the first quarter of 2026 compared to (12.2)% in the first quarter of 2025. The adjusted effective tax rate was 21.2% in the first quarter of 2026 compared to 9.2% in the first quarter of 2025.Net income for the first quarter of 2026 was $57 million, or $0.11 per diluted share on a reported basis, compared with net income of $67 million, or $0.13 per diluted share, for the same period in 2025. On an adjusted basis, net income for the first quarter of 2026 was $204 million, or $0.40 per diluted share, an 8% increase compared with the same period in 2025.  Adjusted EBITDA was $334 million in the first quarter of 2026, a 21% increase compared to the first quarter of 2025. Adjusted EBITDA margin was 24.5% compared with 23.1% for the first quarter of 2025.Working Capital and Balance SheetCash provided by operations was $13 million in the first quarter of 2026, compared to cash used in operations of $4 million in the first quarter of 2025.As of March 31, 2026, Elanco's net leverage ratio was 3.5x adjusted EBITDA, a decrease of 0.1x compared to December 31, 2025.Financial GuidanceElanco is updating financial guidance for the full year 2026, summarized in the following table.2026 Full Year(dollars in millions, except per share amounts)
FebruaryGuidance
MayGuidance








Revenue (1)
$4,950to$5,020
$5,010to$5,085Adjusted EBITDA
$955to$985
$975to$1,005Adjusted Earnings per Share
$1.00to$1.06
$1.03to$1.09(1) Revenue guidance excludes royalty revenue that was sold to a third party."Our strong first quarter results underscore the powerful momentum we are carrying into 2026," said Bob VanHimbergen, Executive Vice President and CFO of Elanco Animal Health. "This outperformance, driven by both volume and price, gives us the confidence to raise our full-year guidance for revenue, adjusted EBITDA, and adjusted EPS, while continuing to take a prudent, balanced approach in a dynamic macro environment. We remain disciplined in our execution of Elanco Ascend, which is already delivering meaningful efficiencies and positions us for significant, sustainable margin expansion starting this year. With accelerating free cash flow and an improved net leverage target, Elanco is operating from a position of financial strength to drive long-term shareholder value."The company anticipates a tailwind to revenue of approximately $60 million from the favorable impact of foreign exchange rates compared to prior year. Excluding the impact of foreign exchange rates and royalty revenue sold to a third party, the company now expects revenue growth of 5% to 7% versus 4% to 6% previously. The company continues to expect an accelerating contribution from price versus 2025.Elanco continues to expect adjusted gross margin of 55.1% to 55.5%, an increase of 40 basis points versus 2025. Adjusted EBITDA guidance reflects savings from the Elanco Ascend initiative as well as incremental strategic investments in the global launches of the company's innovation portfolio and the advancement of the R&D pipeline.Additionally, the company is providing guidance for the second quarter of 2026, as summarized in the following table: 2026 Second Quarter (dollars in millions, except per share amounts)
Guidance




Revenue (1)
$1,300to$1,325Adjusted EBITDA
$240to$260Adjusted Earnings per Share
$0.25to$0.28(1) Revenue guidance excludes royalty revenue that was sold to a third party.In the second quarter, the company anticipates a tailwind to revenue of approximately $10 million from the favorable impact of foreign exchange rates compared to prior year. Excluding the impacts of foreign exchange rates and royalty revenue sold to a third party, the company expects 4% to 6% organic constant currency revenue growth. The company expects operating expenses up approximately 8% year over year in constant currency with incremental support for innovation products.The 2026 full year and second quarter financial guidance reflects foreign exchange rates as of the end of April. Further details on guidance, including GAAP reported to non-GAAP adjusted reconciliations, are included in the financial tables of this press release and will be discussed on the company's conference call this morning.WEBCAST & CONFERENCE CALL DETAILSElanco will host a webcast and conference call at 8:00 a.m. Eastern Time today, during which company executives will review first quarter financial and operational results, discuss second quarter and full year 2026 financial guidance, and respond to questions from analysts. Investors, analysts, members of the media and the public may access the live webcast and accompanying slides by visiting the Elanco website at https://investor.elanco.com and selecting Events and Presentations. A replay of the webcast will be archived and made available a few hours after the event on the company's website, at https://investor.elanco.com/events-and-presentations/default.aspx#module-event-upcoming.ABOUT ELANCOElanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With more than 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com.Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements concerning product launches and revenue from such products, our 2026 full year and second quarter guidance and long-term expectations, our expectations regarding debt levels, and expectations regarding our industry and our operations, performance and financial condition, and including, in particular, statements relating to our business, growth strategies, distribution strategies, product development efforts and future expenses.Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important risk factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including but not limited to the following:operating in a highly competitive industry;the success of our research and development (R&D), regulatory approval and licensing efforts;the impact of disruptive innovations and advances in veterinary medical practices, animal health technologies and alternatives to animal-derived protein;competition from generic products that may be viewed as more cost-effective;changes in regulatory restrictions on the use of antibiotics in farm animals;an outbreak of infectious disease carried by farm animals;risks related to the evaluation of animals;consolidation of our customers and distributors;an increased use of alternative distribution channels or changes within existing distribution channels;our dependence on the success of our top products;our ability to complete acquisitions and divestitures and to successfully integrate the businesses we acquire;our ability to implement our business strategies or achieve targeted cost efficiencies and gross margin improvements;manufacturing problems and capacity imbalances, including at our contract manufacturers;fluctuations in inventory levels in our distribution channels;risks related to the use of artificial intelligence in our business;our dependence on sophisticated information technology systems and infrastructure, including the use of third-party, cloud-based technologies, and the impact of outages or breaches of the information technology systems and infrastructure we rely on;the impact of weather conditions, including those related to climate change, and the availability of natural resources;demand, supply and operational challenges associated with the effects of a human disease outbreak, epidemic, pandemic or other widespread public health concern;the loss of key personnel or highly skilled employees;adverse effects of labor disputes, strikes and/or work stoppages;the effect of our substantial indebtedness on our business, including restrictions in our debt agreements that limit our operating flexibility and changes in our credit ratings that lead to higher borrowing expenses and restrict access to credit;changes in interest rates that adversely affect our earnings and cash flows;risks related to the write-down of goodwill or identifiable intangible assets;the lack of availability or significant increases in the cost of raw materials;risks related to foreign and domestic economic, political, legal and business environments;risks related to foreign currency exchange rate fluctuations;risks related to underfunded pension plan liabilities;our current plan not to pay dividends and restrictions on our ability to pay dividends;the potential impact that actions by activist shareholders could have on the pursuit of our business strategies;risks related to tax expense or exposures;actions by regulatory bodies, including as a result of their interpretation of studies on product safety;the possible slowing or cessation of acceptance and/or adoption of our farm animal sustainability initiatives;the impact of increased regulation or decreased governmental financial support related to the raising, processing or consumption of farm animals;risks related to tariffs, trade protection measures or other modifications of foreign trade policy;the impact of litigation, regulatory investigations and other legal matters, including the risk to our reputation and the risk that our insurance policies may be insufficient to protect us from the impact of such matters;challenges to our intellectual property rights or our alleged violation of rights of others;misuse, off-label or counterfeiting use of our products;unanticipated safety, quality or efficacy concerns and the impact of identified concerns associated with our products;insufficient insurance coverage against hazards and claims;compliance with privacy laws and security of information;risks related to environmental, health and safety laws and regulations; andinability to achieve our aspirations or meet the expectations of stakeholders with respect to environmental, social and governance matters.For additional information about the factors that could cause actual results to differ materially from forward-looking statements, please see the company's latest Form 10-K and Form 10-Qs filed with the Securities and Exchange Commission. Although we have attempted to identify important risk factors, there may be other risk factors not presently known to us or that we presently believe are not material that could cause actual results and developments to differ materially from those made in or suggested by the forward-looking statements contained in this press release. If any of these risks materialize, or if any of the above assumptions underlying forward-looking statements prove incorrect, actual results and developments may differ materially from those made in or suggested by the forward-looking statements contained in this press release. We caution you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements that are included elsewhere in this press release. Any forward-looking statement made by us in this press release speaks only as of the date thereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should be viewed as historical data.Use of Non-GAAP Financial Measures:We use non-GAAP financial measures, such as revenue growth excluding the impact of divestitures, foreign exchange rate effects, royalty revenue sold to third party, EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted EPS, adjusted gross profit, adjusted gross margin, net debt and net debt leverage to assess and analyze our operational results and trends as explained in more detail in the reconciliation tables later in this release.We believe these non-GAAP financial measures are useful to investors because they provide greater transparency regarding our operating performance. Reconciliation of non-GAAP financial measures and reported U.S. generally accepted accounting principles (GAAP) financial measures are included in the tables accompanying this press release and are posted on our website at www.elanco.com. The primary material limitations associated with the use of such non-GAAP measures as compared to GAAP results include the following: (i) they may not be comparable to similarly titled measures used by other companies, including those in our industry, (ii) they exclude financial information and events, such as the effects of an acquisition or divestiture or amortization of intangible assets, that some may consider important in evaluating our performance, value or prospects for the future, (iii) they exclude items or types of items that may continue to occur from period to period in the future and (iv) they may not exclude all unusual or non-recurring items, which could increase or decrease these measures, which investors may consider to be unrelated to our long-term operations. These non-GAAP measures are not, and should not, be viewed as substitutes for GAAP reported measures. We encourage investors to review our unaudited consolidated financial statements in their entirety and caution investors to use GAAP measures as the primary means of evaluating our performance, value and prospects for the future, and non-GAAP measures as supplemental measures.Availability of Certain InformationWe use our website to disclose important company information to investors, customers, employees and others interested in Elanco. We encourage investors to consult our website regularly for important information about Elanco, including an Investor Overview presentation containing a general overview of the business, which can be found in the Events and Presentations page of our website.Additional Information
We define innovation revenue as revenue from new products, lifecycle management and certain geographic expansions and business development transactions that is incremental in reference to product revenue in 2020 and does not include the expected impact of cannibalization on the base portfolio.We define organic constant currency revenue growth as revenue growth excluding royalty revenue that was sold to a third party and the impact of foreign exchange rates.Elanco Animal Health IncorporatedUnaudited Condensed Consolidated Statements of Operations(Dollars and shares in millions, except per share data)

Three Months Ended March 31,
2026
2025Revenue$         1,371
$         1,193Cost of sales586
509Gross profit785
684Research and development97
94Marketing, selling and administrative381
341Amortization of intangible assets138
128Asset impairment, restructuring and other special charges16
9Interest expense, net of capitalized interest57
40Other expense, net9
12Income before income taxes87
60Income tax expense (benefit)30
(7)Net income$             57
$             67Earnings per share:


Basic$           0.11
$           0.14Diluted$           0.11
$           0.13Weighted-average shares outstanding:


Basic497.7
495.1Diluted506.0
499.1Elanco Animal Health Incorporated
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
(Unaudited)
(Dollars and shares in millions, except per share data)We use non-GAAP financial measures, such as organic constant currency revenue growth, adjusted gross profit, adjusted gross margin percentage, adjusted net income, adjusted EPS, EBITDA, adjusted EBITDA and adjusted EBITDA margin and net debt and net debt leverage, that differ from financial measures reported in conformity with GAAP. The company believes these non-GAAP measures provide useful information to investors. Among other things, they may help investors assess and analyze our operational results and trends of our ongoing operations. Management also uses these non-GAAP measures internally to evaluate the performance of the business and in making resource allocation decisions. Investors should consider these non-GAAP measures in addition to, not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Reconciliation of non-GAAP financial measures and reported GAAP financial measures are included in the tables below.Adjusted Gross Profit and Gross Margin PercentageWe define gross profit as total revenue less cost of sales. We define adjusted gross profit as gross profit less royalty revenue sold to a third party, less cost of sales adjustments. We define adjusted gross margin percentage as adjusted gross profit divided by total revenue, less royalty revenue sold to a third party. The following is a reconciliation of GAAP reported gross profit for the for the three months March 31, 2026 and 2025, to adjusted gross profit and adjusted gross margin percentage:
Three Months Ended March 31,
2026
2025GAAP reported gross profit$         785
$         684Sold royalty revenue(9)
—Cost of sales adjustments—
1Adjusted gross profit$         776
$         685Adjusted gross margin percentage57.0 %
57.4 %Adjusted Net Income and Earnings Per ShareWe define adjusted net income as net income (loss) excluding amortization of intangible assets, purchase accounting adjustments to inventory, acquisition and divestiture-related charges, including integration and separation costs, severance, goodwill and other asset impairments, gains on sales of assets and related costs, facility exit costs, the impacts from sales of future revenues, gains and losses on mark-to-market adjustments on equity securities, tax valuation allowances, certain litigation-related settlements that we consider to be unusual or infrequent and significant, and other specified significant items, such as unusual or non-recurring items that are unrelated to our long-term operations adjusted for income tax expense associated with the excluded financial items. We define adjusted earnings per share as adjusted net income divided by the number of weighted-average diluted shares outstanding for the applicable period. The following is a reconciliation of GAAP reported net income and EPS for the three months ended March 31, 2026 and 2025, to adjusted net income and EPS:
Three Months Ended March 31,
2026
Three Months Ended March 31,
2025
Net income (a)
EPS
Net income (a)
EPSGAAP reported net income and EPS$             57
$           0.11
$             67
$           0.13Cost of sales—
—
1
0.00Amortization of intangible assets138
0.27
128
0.26Asset impairment, restructuring and other
special charges (1)16
0.03
9
0.02Sold royalty revenue(9)
(0.02)
—
—Interest expense, net of capitalized interest (2)14
0.03
—
—Other expense, net (3)13
0.03
5
0.01Income tax expense (benefit) (4)(25)
(0.05)
(26)
(0.05)Adjusted net income and EPS$            204
$           0.40
$            184
$           0.37(a)Adjustments to GAAP reported net income to arrive at adjusted net income for the three months ended March 31, 2026 and 2025, included the following:



(1)Adjustments of $16 million for the three months ended March 31, 2026, primarily related to $15 million of non-cash shut-down costs for the animal studies portion of our R&D facilities in Monheim, Germany associated with our 2025 Restructuring Plan. Adjustments of $9 million for the three months ended March 31, 2025, included $7 million of upfront payments made in relation to new licensing arrangements.



(2)Adjustments of $14 million for the three months ended March 31, 2026, related to imputed interest expense on our liability for sale of future revenue.



(3)Adjustments of $13 million for the three months ended March 31, 2026, primarily related to currency translation losses reclassified from accumulated other comprehensive loss in conjunction with the substantial liquidation of a dormant legal entity, a litigation settlement, and mark-to-market adjustments on equity investments. Adjustments of $5 million for the three months ended March 31, 2025, related to mark-to-market adjustments on equity investments and the impact of hyperinflationary accounting in Turkey.



(4)Adjustments of $25 million for the three months ended March 31, 2026 primarily represented the income tax expense associated with the adjusted items discussed above. Adjustments of $26 million for the three months ended March 31, 2025, primarily represented the income tax expense associated with the adjusted items discussed above. The adjustments for the three months ended March 31, 2025, also reflect a $35 million benefit related to a discrete tax item recognized during the quarter.Adjusted EBITDA and Adjusted EBITDA MarginWe define adjusted EBITDA as net income (loss) adjusted for interest expense (income), which includes debt financing charges and imputed interest on our liability for sale of future revenue, income tax expense (benefit) and depreciation and amortization, further adjusted to exclude purchase accounting adjustments to inventory, acquisition and divestiture-related charges, including integration and separation costs, severance, goodwill and other asset impairments, gains on sales of assets and related costs, facility exit costs, revenue sold to a third party, gains and losses on mark-to-market adjustments on equity securities, certain litigation-related settlements which we consider to be unusual or infrequent and significant, and other specified significant items, such as unusual or non-recurring items that are unrelated to our long-term operations.For the periods presented, we have not made adjustments for all items that may be considered unrelated to our long-term operations. We believe adjusted EBITDA, when used in conjunction with our results presented in accordance with GAAP and its reconciliation to net income (loss), enhances investors' understanding of our performance, valuation and prospects for the future. We also believe adjusted EBITDA is a measure used in the animal health industry by analysts as a valuable performance metric for investors. The following is a reconciliation of GAAP reported net income for the three months ended March 31, 2026 and 2025, to EBITDA, adjusted EBITDA and adjusted EBITDA margin, which we define as adjusted EBITDA divided by total revenue, less royalty revenue sold to a third party, for the respective periods:
Three Months Ended March 31,
2026
2025GAAP reported net income$           57
$           67Net interest expense57
40Income tax expense (benefit) 30
(7)Depreciation and amortization 170
161EBITDA$         314
$         261Non-GAAP adjustments:


Cost of sales adjustments$           —
$            1Asset impairment, restructuring and other special charges16
9Sold royalty revenue(9)
—Other expense, net13
5Adjusted EBITDA$         334
$         276   Adjusted EBITDA margin24.5 %
23.1 %Numbers may not add due to rounding.Gross and Net Debt and Net Leverage RatioWe define gross debt as the sum of the current portion of long-term debt and long-term debt excluding unamortized debt issuance costs. We define net debt as gross debt less cash and cash equivalents and finance lease liabilities on the balance sheet. We define our net leverage ratio as net debt divided by our trailing twelve month adjusted EBITDA. We believe our net debt and net leverage ratio are important measures to monitor our financial flexibility, liquidity and capital structure and may enhance investors' understanding of our ability to meet future financial obligations. In addition, a net leverage ratio is a financial measure that is frequently used by investors and creditors. The below calculations do not include covenant-related adjustments that reduce our net leverage ratio. The following is a reconciliation of gross debt to net debt as of March 31, 2026:Long-term debt
$          3,918Current portion of long-term debt
73Less: Unamortized debt issuance costs
(27)Total gross debt
4,018Less: Cash and cash equivalents
428Less: Finance lease liabilities
255Net debt
$          3,335The following table presents a calculation of our net leverage ratio as of March 31, 2026:Net debt
$          3,335Trailing twelve month adjusted EBITDA
$            958     Net leverage ratio
3.5Investor Contact: Tiffany Kanaga (765) 740-0314 or tiffany.kanaga @TexasTed or colleen.dekker@elancoah.com View original content to download multimedia:https://www.prnewswire.com/news-releases/elanco-animal-health-reports-first-quarter-2026-results-302763339.htmlSOURCE Elanco Animal Health Original: Elanco Animal Health Reports First Quarter 2026 Results

/C O R R E C T I O N -- Elanco Animal Health/April 28, 2026 7:03 PM
PR Newswire (US)

/C O R R E C T I O N – Elanco Animal Health/ In the news release, Elanco's Negasunt™ Powder (Coumaphos, Propoxur, Sulfanilamide Topical Powder) and Tanidil™ (Coumaphos, Propoxur) Receive Emergency Authorization for Use Against New World Screwworm in Livestock, issued 27-Apr-2026 by Elanco Animal Health over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:
Elanco's Negasunt™ Powder (Coumaphos, Propoxur, Sulfanilamide Topical Powder) and Tanidil™ (Coumaphos, Propoxur) Receive Emergency Authorization for Use Against New World Screwworm in Livestock
Action Prepares Veterinarians and Livestock Producers with Prevention and Treatment Options Prior to Fly Being Detected in the U.S.Federal agencies grant emergency authorizations for New World screwworm in livestock, reinforcing Elanco's leadership in livestock health innovations  Actions underscore the commitment of the U.S. Food and Drug Administration, U.S. Environmental Protection Agency, and U.S. Department of Agriculture to act swiftly against emerging animal health threats Early detection and immediate treatment of open wounds on livestock is critical to prevention of New World screwworm myiasis in individual animals and rapid spread of the pestAn effective fly and tick control regimen is also essential, helping to avoid small bites on animals that can be an entry point for the screwwormINDIANAPOLIS, April 27, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) announced it has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for Negasunt Powder (coumaphos, propoxur, sulfanilamide topical powder) and a Section 18 Emergency Exemption from the U.S. Environmental Protection Agency (EPA) in cooperation with the United States Department of Agriculture (USDA) for Tanidil (coumaphos, propoxur) for the prevention and treatment of New World screwworm infestations in a variety of livestock species.







With confirmed cases of New World screwworm detected as close as 62 miles south of the U.S.-Mexico borderi, these authorizations ensure veterinarians and livestock producers have a ready-now treatment option for various livestock species should the fly enter the U.S.Negasunt Powder and Tanidil will be available only through the U.S. Animal Plant Health and Inspection Service (APHIS) and its National Veterinary Stockpile. They will be distributed in coordination with state animal health officials and federally recognized tribal agencies. In the near future, APHIS will share additional information about the requirements for use, including tracking and reporting requirements and required safety and personal protective equipment.With more than 70 years of on-farm experience, Elanco is standing alongside livestock producers and regulators during this challenging time by providing New World screwworm options for prevention and treatment of New World screwworm infestations, education and science-based resources if the fly enters the U.S."We appreciate our federal agencies' swift review of the scientific data demonstrating that these products may be effective in prevention and treatment against New World screwworm infestations," said Dr. Ellen de Brabander, Executive Vice President of Research & Development at Elanco. "We're committed to working alongside state and federal regulatory authorities to provide our support and scientific expertise. These emergency authorizations provide new, science-based solutions and treatment options to livestock producers, veterinarians, and other animal health industry stakeholders at a time when they need them most."Effective Parasite Protection is ParamountElanco now offers producers and veterinarians several key products that can help prevent and treat New World screwworm infestations in a variety of livestock species. In addition to the EUA for Negasunt Powder and the Section 18 Emergency Exemption for Tanidil, the company also offers Catron IV – one of the few EPA registered products labeled for treatment against screwworm in a variety of livestock species. This screwworm and ear tick spray can help producers kill and control screwworm flies and maggots on beef and dairy cattle, sheep, goats, hogs and horses."The most important thing producers can do is self-education. They should be learning more about New World screwworm from credible sources, staying current with treatment protocol recommendations, and knowing where active cases are located," said Dr. M. Wayne Ayers, Elanco Sr. Technical Consultant and veterinarian. "The second most important part of preventing losses from New World screwworm is for producers to keep their 'eyes on livestock.' Looking over livestock as frequently as possible will allow early detection and treatment of infestation. Early intervention is key to minimizing tissue damage, decreasing mortality, and reducing the risk to the area by preventing the fly's potential offspring from completing their lifecycle."Preventing Wound-Causing Parasites Also EssentialAccording to APHIS, an important way to prevent New World screwworm infestation is to protect livestock from other wound-causing parasites such as biting flies and ticks.ii"Some of the surgical and care procedures we perform for livestock could result in potential sites for the female screwworm to deposit her eggs," said Dr. Ayers. "Wounds as small as fly and tick bites are potential areas to watch for as well. Therefore, treating open wounds, including those from surgical sites, and instituting a good fly and tick prevention program will play an important role in reducing the number of infestations we may see."Elanco offers several EPA registered products to help control flies and ticks on livestock in the forms of pour-on liquids, sprays, dusts and ear tags.Elanco recommends that livestock producers and veterinarians review the latest resources available from the USDA and FDA and consider the additional resources below in advance of the potential entry of New World screwworm into the United States.To learn more about New World screwworm (NWS) using the following resources:USDA NWS Alert and Fact SheetNCBA NWS ResourcesFDA Information for Veterinarians on NWSEmergency Use Authorization of Negasunt Powder (coumaphos, propoxur, and sulfanilamide topical powder) for New World Screwworm (NWS)WARNING: Neurotoxicity. Read full Fact Sheet for complete information. Coumaphos and propoxur can cause neurotoxicity. May be fatal if swallowed. May be fatal if inhaled. Harmful if absorbed through skin. Causes moderate eye irritation. Do not breathe dust. Avoid contact with eyes, skin, or clothing.  Use only with appropriate personal protective equipment (PPE): coveralls worn over long-sleeve shirt and long pants, shoes, socks, and protective eyewear; chemical-resistant gloves made of  barrier laminate, butyl rubber (≥ 14 mils), nitrile rubber (≥14 mils), neoprene rubber (>14 mils), natural rubber (≥14 mils), polyethylene, polyvinyl chloride (PVC) ≥14 mils, or Viton (>14 mils); and a minimum of a NIOSH-approved elastomeric half mask respirator consisting of protection factor (PF) 10 fitted with organic vapor (OV) cartridges and combination  R or P filters; or a NIOSH-approved gas mask with OV canisters; or a NIOSH-approved powered air purifying respirator with OV cartridges and combination HE filters.  This product is toxic to mammals, birds, fish, and aquatic invertebrates. The U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for the emergency use of the unapproved product Negasunt Powder for the prevention and treatment of infestations caused by New World screwworm (Cochliomyia homnivorax) larvae (myiasis) in cattle, swine, goats, sheep, horses, donkeys, domestic hybrid equids, and captive wild, exotic, and zoo mammals. Negasunt Powder is not approved for this use.For use by employees of federal, state, local, and federally recognized tribal agencies, and persons working under their authority and at their direction. Also for use by or on the order of a licensed veterinarian in NWS infested zones and adjacent surveillance zones as defined by the U.S. Department of Agriculture (USDA). For additional information on the EUA and for complete safety information, please refer to the?Negasunt Powder NWS Fact Sheet.  Limitations of Authorized Use  
It is a violation of federal law to use this drug product other than as directed in the authorized Fact Sheet. Treated animals must not be slaughtered for human consumption within 28 days of the last treatment. A milk discard time has not been established for this product; do not use in animals producing milk for human consumption. A withdrawal period has not been established for this product in pre-ruminating calves; treated calves and calves born to treated cows must not be processed for veal. Do not use in horses intended for human consumption. Do not use in domestic indoor pets (e.g., dogs, cats, rodents, rabbits) nor in residences. Do not use in birds. Do not use in free-ranging wildlife. To avoid overexposure, each individual person cannot treat more than 3 large wounds (>2?inches diameter) a day or more than 30 small superficial wounds (≤2 inches diameter) a day (or an equivalent thereof) with Negasunt Powder or any other coumaphos-containing products.  Negasunt Powder is authorized for this use only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of Negasunt Powder under section 564(b)(1) of the Federal Food, Drug, and Cosmetic Act (FD&C Act), 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or the authorization is revoked sooner. Federal law prohibits the extra-label use of this drug. Additional Important Safety Information
Not for use in humans. Keep out of reach of children. Only handlers wearing required PPE may be in the area during application.  Do not apply in a confined, non-ventilated area; provide thorough ventilation. Call a poison control center or doctor immediately for treatment advice if Negusant Powder is swallowed, inhaled, on skin or clothing, or in eyes. Sulfonamides are contraindicated in animals that are hypersensitive to them and in animals with severe renal or hepatic impairment. For external use only on animals.  Do not contaminate water, feed, troughs, feed handling equipment, or milk or meat handling equipment. Use with caution in very young, weak, or debilitated animals.  In the case of overdose,?treat with atropine sulfate or pralidoxine chloride (2-PAM) as soon as possible. The most common adverse reactions associated with organophosphate and carbamate toxicity in animals include frequent urination and defecation, muscle twitching, and watering eyes.Important Information about Tanidil
Tanidil™ is an unregistered product for distribution and use only under a Section 18 emergency exemption. The Section 18 labeling must be in the possession of the user at the time of pesticide application.  This product may only be used to prevent or control New World screwworm in and on animal wounds on labeled animal host species.For use only by federal, state, local, and federally recognized tribal agencies, and persons working under their supervision; personnel at quarantine stations and areas; veterinarians; veterinarians or certified applicators at livestock and game facilities, zoos, wildlife facilities, animal rehabilitation centers; and wildlife professionals. Read the entire label. This product must be used strictly in accordance with this label's precautionary statements and use directions, as well as with all applicable state and federal laws and regulations. Please visit the Tanidil fact sheet for more information.Use Period: This exemption is effective on April 27, 2026 and expires on April 27, 2029. No applications of Tanidil may be made under the emergency exemption before its effective date or after its expiration date.  ABOUT ELANCO
Elanco Animal Health Incorporated is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com.Media Contact: Season Solorio (765) 316-0233 season.solorio @MakinMula2 tiffany.kanaga@elancoah.comNegasunt, Tanidil, Catron, Elanco and the diagonal bar logo are trademarks of Elanco or its affiliates. © 2026 Elanco or its affiliates.
i SENASICA, Government of Mexicoii APHIS, New World ScrewwormCorrection: Additional hyperlinks have been added to fact sheets in the release. 



View original content to download multimedia:https://www.prnewswire.com/news-releases/elancos-negasunt-powder-coumaphos-propoxur-sulfanilamide-topical-powder-and-tanidil-coumaphos-propoxur-receive-emergency-authorization-for-use-against-new-world-screwworm-in-livestock-302754870.htmlSOURCE Elanco Animal Health

Original: /C O R R E C T I O N -- Elanco Animal Health/

Elanco's Negasunt™ Powder (Coumaphos, Propoxur, Sulfanilamide Topical Powder) and Tanidil™ (Coumaphos, Propoxur) Receive Emergency Authorization for Use Against New World Screwworm in LivestockApril 27, 2026 6:23 PM
PR Newswire (US)

Action Prepares Veterinarians and Livestock Producers with Prevention and Treatment Options Prior to Fly Being Detected in the U.S.Federal agencies grant emergency authorizations for New World screwworm in livestock, reinforcing Elanco's leadership in livestock health innovations  Actions underscore the commitment of the U.S. Food and Drug Administration, U.S. Environmental Protection Agency, and U.S. Department of Agriculture to act swiftly against emerging animal health threats Early detection and immediate treatment of open wounds on livestock is critical to prevention of New World screwworm myiasis in individual animals and rapid spread of the pestAn effective fly and tick control regimen is also essential, helping to avoid small bites on animals that can be an entry point for the screwwormINDIANAPOLIS, April 27, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) announced it has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for Negasunt Powder (coumaphos, propoxur, sulfanilamide topical powder) and a Section 18 Emergency Exemption from the U.S. Environmental Protection Agency (EPA) in cooperation with the United States Department of Agriculture (USDA) for Tanidil (coumaphos, propoxur) for the prevention and treatment of New World screwworm infestations in a variety of livestock species.







With confirmed cases of New World screwworm detected as close as 62 miles south of the U.S.-Mexico borderi, these authorizations ensure veterinarians and livestock producers have a ready-now treatment option for various livestock species should the fly enter the U.S.Negasunt Powder and Tanidil will be available only through the U.S. Animal Plant Health and Inspection Service (APHIS) and its National Veterinary Stockpile. They will be distributed in coordination with state animal health officials and federally recognized tribal agencies. In the near future, APHIS will share additional information about the requirements for use, including tracking and reporting requirements and required safety and personal protective equipment.With more than 70 years of on-farm experience, Elanco is standing alongside livestock producers and regulators during this challenging time by providing New World screwworm options for prevention and treatment of New World screwworm infestations, education and science-based resources if the fly enters the U.S."We appreciate our federal agencies' swift review of the scientific data demonstrating that these products may be effective in prevention and treatment against New World screwworm infestations," said Dr. Ellen de Brabander, Executive Vice President of Research & Development at Elanco. "We're committed to working alongside state and federal regulatory authorities to provide our support and scientific expertise. These emergency authorizations provide new, science-based solutions and treatment options to livestock producers, veterinarians, and other animal health industry stakeholders at a time when they need them most."Effective Parasite Protection is ParamountElanco now offers producers and veterinarians several key products that can help prevent and treat New World screwworm infestations in a variety of livestock species. In addition to the EUA for Negasunt Powder and the Section 18 Emergency Exemption for Tanidil, the company also offers Catron IV – one of the few EPA registered products labeled for treatment against screwworm in a variety of livestock species. This screwworm and ear tick spray can help producers kill and control screwworm flies and maggots on beef and dairy cattle, sheep, goats, hogs and horses."The most important thing producers can do is self-education. They should be learning more about New World screwworm from credible sources, staying current with treatment protocol recommendations, and knowing where active cases are located," said Dr. M. Wayne Ayers, Elanco Sr. Technical Consultant and veterinarian. "The second most important part of preventing losses from New World screwworm is for producers to keep their 'eyes on livestock.' Looking over livestock as frequently as possible will allow early detection and treatment of infestation. Early intervention is key to minimizing tissue damage, decreasing mortality, and reducing the risk to the area by preventing the fly's potential offspring from completing their lifecycle."Preventing Wound-Causing Parasites Also EssentialAccording to APHIS, an important way to prevent New World screwworm infestation is to protect livestock from other wound-causing parasites such as biting flies and ticks.ii"Some of the surgical and care procedures we perform for livestock could result in potential sites for the female screwworm to deposit her eggs," said Dr. Ayers. "Wounds as small as fly and tick bites are potential areas to watch for as well. Therefore, treating open wounds, including those from surgical sites, and instituting a good fly and tick prevention program will play an important role in reducing the number of infestations we may see."Elanco offers several EPA registered products to help control flies and ticks on livestock in the forms of pour-on liquids, sprays, dusts and ear tags.Elanco recommends that livestock producers and veterinarians review the latest resources available from the USDA and FDA and consider the additional resources below in advance of the potential entry of New World screwworm into the United States.To learn more about New World screwworm (NWS) using the following resources:USDA NWS Alert and Fact SheetNCBA NWS ResourcesFDA Information for Veterinarians on NWSEmergency Use Authorization of Negasunt Powder (coumaphos, propoxur, and sulfanilamide topical powder) for New World Screwworm (NWS)WARNING: Neurotoxicity. Read full Fact Sheet for complete information. Coumaphos and propoxur can cause neurotoxicity. May be fatal if swallowed. May be fatal if inhaled. Harmful if absorbed through skin. Causes moderate eye irritation. Do not breathe dust. Avoid contact with eyes, skin, or clothing.  Use only with appropriate personal protective equipment (PPE): coveralls worn over long-sleeve shirt and long pants, shoes, socks, and protective eyewear; chemical-resistant gloves made of  barrier laminate, butyl rubber (≥ 14 mils), nitrile rubber (≥14 mils), neoprene rubber (>14 mils), natural rubber (≥14 mils), polyethylene, polyvinyl chloride (PVC) ≥14 mils, or Viton (>14 mils); and a minimum of a NIOSH-approved elastomeric half mask respirator consisting of protection factor (PF) 10 fitted with organic vapor (OV) cartridges and combination  R or P filters; or a NIOSH-approved gas mask with OV canisters; or a NIOSH-approved powered air purifying respirator with OV cartridges and combination HE filters.  This product is toxic to mammals, birds, fish, and aquatic invertebrates. The U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for the emergency use of the unapproved product Negasunt Powder for the prevention and treatment of infestations caused by New World screwworm (Cochliomyia homnivorax) larvae (myiasis) in cattle, swine, goats, sheep, horses, donkeys, domestic hybrid equids, and captive wild, exotic, and zoo mammals. Negasunt Powder is not approved for this use.For use by employees of federal, state, local, and federally recognized tribal agencies, and persons working under their authority and at their direction. Also for use by or on the order of a licensed veterinarian in NWS infested zones and adjacent surveillance zones as defined by the U.S. Department of Agriculture (USDA). For additional information on the EUA and for complete safety information, please refer to the?Negasunt Powder NWS Fact Sheet.  Limitations of Authorized Use  
It is a violation of federal law to use this drug product other than as directed in the authorized Fact Sheet. Treated animals must not be slaughtered for human consumption within 28 days of the last treatment. A milk discard time has not been established for this product; do not use in animals producing milk for human consumption. A withdrawal period has not been established for this product in pre-ruminating calves; treated calves and calves born to treated cows must not be processed for veal. Do not use in horses intended for human consumption. Do not use in domestic indoor pets (e.g., dogs, cats, rodents, rabbits) nor in residences. Do not use in birds. Do not use in free-ranging wildlife. To avoid overexposure, each individual person cannot treat more than 3 large wounds (>2?inches diameter) a day or more than 30 small superficial wounds (≤2 inches diameter) a day (or an equivalent thereof) with Negasunt Powder or any other coumaphos-containing products.  Negasunt Powder is authorized for this use only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of Negasunt Powder under section 564(b)(1) of the Federal Food, Drug, and Cosmetic Act (FD&C Act), 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or the authorization is revoked sooner. Federal law prohibits the extra-label use of this drug. Additional Important Safety Information
Not for use in humans. Keep out of reach of children. Only handlers wearing required PPE may be in the area during application.  Do not apply in a confined, non-ventilated area; provide thorough ventilation. Call a poison control center or doctor immediately for treatment advice if Negusant Powder is swallowed, inhaled, on skin or clothing, or in eyes. Sulfonamides are contraindicated in animals that are hypersensitive to them and in animals with severe renal or hepatic impairment. For external use only on animals.  Do not contaminate water, feed, troughs, feed handling equipment, or milk or meat handling equipment. Use with caution in very young, weak, or debilitated animals.  In the case of overdose,?treat with atropine sulfate or pralidoxine chloride (2-PAM) as soon as possible. The most common adverse reactions associated with organophosphate and carbamate toxicity in animals include frequent urination and defecation, muscle twitching, and watering eyes.Important Information about Tanidil
Tanidil™ is an unregistered product for distribution and use only under a Section 18 emergency exemption. The Section 18 labeling must be in the possession of the user at the time of pesticide application.  This product may only be used to prevent or control New World screwworm in and on animal wounds on labeled animal host species.For use only by federal, state, local, and federally recognized tribal agencies, and persons working under their supervision; personnel at quarantine stations and areas; veterinarians; veterinarians or certified applicators at livestock and game facilities, zoos, wildlife facilities, animal rehabilitation centers; and wildlife professionals. Read the entire label. This product must be used strictly in accordance with this label's precautionary statements and use directions, as well as with all applicable state and federal laws and regulations. Please visit the Tanidil fact sheet for more information.Use Period: This exemption is effective on April 27, 2026 and expires on April 27, 2029. No applications of Tanidil may be made under the emergency exemption before its effective date or after its expiration date.  ABOUT ELANCO
Elanco Animal Health Incorporated is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com.Media Contact: Season Solorio (765) 316-0233 season.solorio @MakinMula2 tiffany.kanaga@elancoah.comNegasunt, Tanidil, Catron, Elanco and the diagonal bar logo are trademarks of Elanco or its affiliates. © 2026 Elanco or its affiliates.
i SENASICA, Government of Mexicoii APHIS, New World Screwworm 



View original content to download multimedia:https://www.prnewswire.com/news-releases/elancos-negasunt-powder-coumaphos-propoxur-sulfanilamide-topical-powder-and-tanidil-coumaphos-propoxur-receive-emergency-authorization-for-use-against-new-world-screwworm-in-livestock-302754870.htmlSOURCE Elanco Animal Health

Original: Elanco's Negasunt™ Powder (Coumaphos, Propoxur, Sulfanilamide Topical Powder) and Tanidil™ (Coumaphos, Propoxur) Receive Emergency Authorization for Use Against New World Screwworm in Livestock

Elanco Launches Advantage™ Collar for Dogs with Four Months of Continuous Protection from Fleas, Ticks and Mosquitoes*April 9, 2026 8:27 AM
PR Newswire (US)

Breaks the flea lifecycle* with Pyriproxyfen, an insect growth regulator, preventing fleas from reinfesting the dogAdjustable collar fits comfortably and securely on a dog of any sizeStrengthens Elanco's 25-year Advantage brand familyAvailable at pet specialty, dollar, grocery and mass retailers, with a suggested retail price below $25**INDIANAPOLIS, April 9, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today announced the launch of its Advantage™ Collar for Dogs, a new product providing long-lasting protection against two parasites that don't take a season off – fleas and ticks. Designed for dogs and puppies 12 weeks of age and older, this dog collar kills and repels ?eas and ticks and repels mosquitoes* for a full four months.







"The Advantage Collar for Dogs is a fantastic addition to our over-the-counter pet portfolio, building on the 25-year Advantage brand family and Elanco's leadership in the retail space," said Bobby Modi, Executive Vice President, U.S. Pet Health and Global Digital Transformation at Elanco. "Elanco is proud to offer a variety of products at multiple price points, meeting the consumer where they want to shop whether it be at retail or through the veterinarian."Fleas and ticks are active year-round, even in the cold winter months, meaning it is important for dogs to be on year-round flea and tick control. The Advantage Collar for Dogs provides four months of continuous flea, tick and mosquito* protection by using the collar's time-release formula for four months of coverage, allowing dog owners to apply the collar only three times per year for round-the-clock protection.The collar also kills ticks that may transmit diseases such as Lyme disease, anaplasmosis, and Rocky Mountain spotted fever and kills fleas that may carry tapeworms."As we head into peak parasite season, I encourage pet owners to find the right flea and tick protection for their dogs," said Dr. Casey Locklear, parasiticide lead at Elanco. "The Advantage Collar for Dogs offers a new option for dog parents looking for an affordable, over-the-counter treatment option. Whether your dog enjoys long hikes or playing in the yard, year-round flea and tick control is crucial."The Advantage Collar for Dogs is available at pet specialty, dollar, grocery and mass retailers. Learn more here: https://yourpetandyou.elanco.com/us/our-products/advantage-collar-dogFor more information on Elanco's vast portfolio of parasite control products visit https://yourpetandyou.elanco.com/us/our-products.*Excluding California ** Retailers may sell at a different price ABOUT ELANCO
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com.Investor Contact: Tiffany Kanaga (765) 740-0314 tiffany.kanaga @wasrocknroll season.solorio@elancoah.com



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Original: Elanco Launches Advantage™ Collar for Dogs with Four Months of Continuous Protection from Fleas, Ticks and Mosquitoes*

Elanco tops earnings forecasts but shares slip amid margin pressure concernsFebruary 24, 2026 8:42 AM
IH Market News
Elanco Animal Health Incorporated (NYSE:ELAN) reported fourth-quarter results on Tuesday that came in ahead of analyst expectations, though its shares moved lower in premarket trading as investors reacted to softer margins.The animal health company posted adjusted earnings per share of $0.13, exceeding the consensus forecast of $0.11. Despite the earnings beat, the stock declined 1.17% before the opening bell as market attention shifted toward profitability trends.Quarterly revenue totaled $1.14 billion, above analyst estimates of $1.09 billion. Sales increased 12% year-on-year on a reported basis and rose 9% organically in constant currency terms compared with the same period last year. Revenue also climbed from $1.02 billion recorded in the fourth quarter of 2024.Adjusted EBITDA rose 7% to $189 million; however, the adjusted EBITDA margin narrowed to 16.7%, down from 17.4% a year earlier. The margin contraction appeared to dampen investor enthusiasm despite the company outperforming expectations on both revenue and earnings.“Elanco delivered significant progress across our strategic priorities of growth, innovation, and cash in 2025,” said Jeff Simmons, President and CEO. “We achieved a strong fourth quarter with 9% organic constant currency revenue growth, marking our 10th consecutive quarter of underlying growth.”Looking ahead, Elanco guided for fiscal 2026 adjusted EPS of between $1.00 and $1.06, with the midpoint of $1.03 aligning with analyst consensus estimates. The company forecast revenue in the range of $4.95 billion to $5.02 billion, with a midpoint of $4.99 billion slightly ahead of the $4.94 billion consensus projection.Within its segments, Pet Health revenue grew 11% to $489 million, supported by newer products such as Credelio Quattro and Zenrelia. Farm Animal revenue increased 12% to $640 million, driven by strong demand for Experior in U.S. cattle and continued momentum in poultry sales.Elanco also lifted its 2026 innovation revenue target to $1.15 billion from $1.1 billion and finished 2025 with a net leverage ratio of 3.6x adjusted EBITDA.Elanco Animal Health Incorporated stock price

Original: Elanco tops earnings forecasts but shares slip amid margin pressure concerns

Elanco Animal Health Reports Fourth Quarter and Full Year 2025 ResultsFebruary 24, 2026 6:27 AM
PR Newswire (US)

Raising 2026 Innovation Target; Full Year 2026 Guidance of 4%-6% Organic Constant Currency Revenue Growth, 6%-9% Adjusted EBITDA Growth In Line with Investor Day OutlookFourth Quarter 2025 Financial Results:Revenue of $1,144 million, increased 12% on a reported basis; 9% in organic constant currencyReported Net Loss of $276 million, Adjusted Net Income of $64 millionAdjusted EBITDA of $189 million; Adjusted EBITDA Margin of 16.7%Reported EPS of $(0.56), Adjusted EPS of $0.13Full Year 2025 Financial Results:Exceeded innovation revenue target at $892 million; delivered all 'Big 6' blockbuster potential products by the end of 2025 with Befrena approval in Q4 2025Revenue of $4,715 million, increased 6% on a reported basis and 7% in organic constant currencyReported Net Loss of $232 million, Adjusted Net Income of $473 millionAdjusted EBITDA of $901 million; Adjusted EBITDA Margin of 19.2%Reported EPS of $(0.47), Adjusted EPS of $0.94 Net leverage ratio of 3.6x Adjusted EBITDAFull Year 2026 Guidance:Raising innovation revenue target to $1.15 billionRevenue of $4,950 million to $5,020 million, or 4% to 6% organic constant currency growthAdjusted EBITDA of $955 million to $985 million, an increase of 8% at midpointAdjusted EPS of $1.00 to $1.06, an increase of 10% at midpointYear-end net leverage ratio target of 3.1x to 3.3xIn line with three-year outlook introduced at December Investor Day, outlining mid-single digit top-line organic constant currency growth, high-single digit Adjusted EBITDA growth, and low double-digit Adjusted EPS growthINDIANAPOLIS, Feb. 24, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today reported its financial results for the fourth quarter and full year 2025 and provided initial guidance for both the first quarter and full year 2026.







"Elanco delivered significant progress across our strategic priorities of growth, innovation, and cash in 2025," said Jeff Simmons, President and CEO of Elanco. "We achieved a strong fourth quarter with 9% organic constant currency revenue growth, marking our 10th consecutive quarter of underlying growth. Importantly, 2025 growth was high quality, spanning all four business quadrants, with contributions from price and volume, and with nine of our top 10 largest countries growing. Our innovation continues to exceed expectations, and we're raising our outlook for this basket to $1.15 billion in 2026 given the strong momentum, market share gains, and positive customer response. Our relentless focus on cash generation has allowed us to improve our net leverage ratio faster than planned, ending the year at 3.6x, well on our way to under 3x in 2027. Elanco is excited about our new era of growth built on a proven track record of consistent execution, with a robust pipeline and a highly engaged team to continue transforming animal care and delivering long-term value for our shareholders."Select Business Highlights Since the Last Earnings CallReceived USDA approval for Befrena™, a new anti-IL31 monoclonal antibody (mAb) injection targeting canine allergic and atopic dermatitis; recommended at a dosing interval of 6 to 8 weeks post-treatment vs. 4 to 8 weeks for the current market competitorCredelio Quattro™ achieved continued dollar share gains of broad-spectrum sales out of U.S. vet clinics in Q4, at the same pace as in Q3**; Australian approval received in February as Advocate™ Ultra ChewAchieved Zenrelia™ use in approximately 50% of U.S. clinics and double-digit share of the U.S. JAK market exiting December**; efficacy driving global momentum and share gains, with approximately 40% share of JAK market in Brazil, over 30% share in Japan, over 10% share in the U.K., and double-digit share in France, Italy, and Spain, outperforming the competitive entrant***Experior® 2025 sales over $200 million, up nearly 80% year over year; AdTab™ continued robust growth trajectory with Q4 sales up over 50% year over year**Per Kynetec Q3 and Q4 data
***Internal estimates based on multiple data sourcesSelect Investor Day Highlights (December 2025)Detailed three-year outlook with annual mid-single digit top-line organic constant currency growth driven by a consistent flow of high-impact innovation, high-single digit Adjusted EBITDA growth and low double-digit Adjusted EPS growth, all starting in 2026Expecting free cash flow of at least $1 billion over the period from 2026 through 2028, and further net leverage ratio improvement to

Elanco to Participate in Upcoming Investor ConferencesFebruary 19, 2026 8:00 AM
PR Newswire (US)

INDIANAPOLIS, Ind., Feb. 19, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today announced that management will participate in upcoming investor conferences.







On Thursday, February 26, Jeff Simmons, president and CEO, and Bob VanHimbergen, executive vice president and CFO, will participate in a fireside chat at the BofA 2026 Animal Health Summit at 11:35 a.m. ET.On Monday, March 2, Bob VanHimbergen, executive vice president and CFO, and Luke Smith, vice president and CFO – US Pet Health, US Farm Animal, and Global Manufacturing, will participate in a fireside chat at the TD Cowen 46th Annual Health Care Conference at 2:30 p.m. ET.On Tuesday, March 10, Bob VanHimbergen, executive vice president and CFO, and Bobby Modi, executive vice president, US Pet Health and Global Digital Transformation, will participate in a fireside chat at the Barclays 28th Annual Global Healthcare Conference at 11:30 a.m. ET.On Wednesday, March 11, Bob VanHimbergen, executive vice president and CFO, and Bobby Modi, executive vice president, US Pet Health and Global Digital Transformation, will participate in a fireside chat at the Leerink Global Healthcare Conference at 10:40 a.m. ET.On Tuesday, March 17, Bob VanHimbergen, executive vice president and CFO, will participate in a fireside chat at the KeyBanc Capital Markets Healthcare Forum at 9:00 a.m. ET.Live audio webcasts will be available in the "Events and Presentations" section of Elanco's investor website. Replays will be available for a limited time at the conclusion of the event.ABOUT ELANCO 
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at?www.elanco.com.Investor Contact: Tiffany Kanaga (765) 740-0314 tiffany.kanaga @TexasTed colleen.dekker@elancoah.com



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Original: Elanco to Participate in Upcoming Investor Conferences

Elanco Announces Updates to Board of DirectorsFebruary 13, 2026 9:24 AM
PR Newswire (US)

INDIANAPOLIS, Feb. 13, 2026 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE: ELAN) today announced updates to its Board of Directors. R. David Hoover and Deborah Kochevar will not stand for re-election at the conclusion of their terms at the 2026 Annual Meeting of Shareholders in May.







Mr. Hoover is retiring from his role after joining the Board in September of 2018 as the first Chairman of the Board at the time of the company's IPO. Dr. Kochevar joined in March of 2019 as the company completed its separation from Eli Lilly and Company."Dave Hoover's leadership was absolutely foundational to Elanco's success as an independent company," said Lawrence E. Kurzius, Chairman of the Board. "As our founding Chairman, he skillfully guided us through our spin-off and initial years as a public entity, establishing a robust governance framework and a clear strategic direction. His deep expertise, unwavering commitment, and steady hand were invaluable during a critical period of transformation. We are grateful for his vision and dedicated service and wish him the best in retirement."Jeff Simmons, Elanco President and CEO, added, "Dave's advisement and strategic insights were instrumental in shaping Elanco into the global leader it is today, well positioned for our new era. He helped us navigate the complexities of becoming an independent company, fostering a strong foundation for sustainable growth. I credit much of the exciting runway ahead of Elanco to Dave's oversight and leadership. His legacy will continue to influence our unwavering commitment to our purpose: making life better for animals, makes life better.""With Elanco in a strong position and an exciting path of sustainable growth and long-term value creation ahead, now is the right time for me to retire," Hoover said. "I am proud to have played a role in Elanco's journey and leave confident in the company's future."Dr. Deborah Kochevar also concludes her distinguished service on the Board."We extend our sincere gratitude to Debbie for her significant contributions to the Elanco Board, particularly her leadership of our Innovation, Science and Technology committee," Kurzius said. "Her expertise in veterinary medicine provided critical perspectives that supported the delivery of a robust pipeline focused on transforming animal care. We wish her all the best in her future endeavors.""Debbie emphasized the importance of a culture of scientific excellence for the creation and maintenance of an innovation pipeline," added Simmons. "As chair of the Innovation, Science and Technology committee, her guidance and support were vital to helping us build our historical innovation momentum, in both the approved innovation, but also the current robust pipeline that sets Elanco up for a strong future. I am extremely grateful for Debbie's expertise and connection to veterinary medicine."Following these changes, the Board will consist of nine directors.ABOUT ELANCO
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at www.elanco.com.Investor Contact: Tiffany Kanaga (765) 740-0314 tiffany.kanaga @TexasTed colleen.dekker@elancoah.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/elanco-announces-updates-to-board-of-directors-302687715.htmlSOURCE Elanco Animal Health

Original: Elanco Announces Updates to Board of Directors

🚩 Pet vaccines are even worse than human vaccines:

"I've spent a career as a veterinarian watching animals DIE from rabies vaccines...tumors at injection sites...autoimmune diseases...some dogs die immediately."pic.twitter.com/5pjvmfcQ0z— Natural Immunity FTW (@NaturallyFTW) February 5, 2024 $ELAN

ELAN 10Q 2/26

ELAN new 52 week high

ELAN new 52 week high

* * $ELAN Video Chart 10-07-2020 * *

Link to Video - click here to watch the technical chart video

Barron’s likes post-merger ELAN—but the stock is not a screaming buy (IMO):

https://www.barrons.com/articles/animal-spirits-for-elanco-pet-care-companys-stock-is-well-positioned-for-gains-51599848313 Elanco Animal Health shares are up about 15% since the company closed its nearly $7 billion acquisition of Bayer Animal Health in early August. That rally has been a long time coming for investors in the animal-care company.

Elanco (ticker: ELAN) stock was down about 2% from when it was spun out from Eli Lilly (LLY) two years ago until the Bayer acquisition became official. Now, Elanco has a good opportunity to change the trajectory of its stock performance, in part because it will have more global reach with the Bayer unit in the fold. The acquisition catapults Elanco into the No. 2 spot in animal-health market share, behind Zoetis (ZTS)…

Companion animal, or pet, products, including canine treatments for heartworm and osteoarthritis, are for the most part faster-growing with higher margins than many livestock products. …A big plus from the Bayer deal: It increases Elanco’s exposure to pet products to 48% of sales from 38%.

…One of the less favorable consequences of the Bayer deal is that Elanco now has a lot of debt on its balance sheet. Risinger estimates that the company’s net debt to 2021 earnings before interest, taxes, depreciation, and amortization is a hefty 5.2 times…

… Elanco fetches about 27 times the $1.02 a share that analysts expect the company to earn next year, a big discount to about 38 times for Zoetis. Elanco probably won’t close that valuation gap soon, considering that Zoetis has better organic sales growth, which excludes acquisitions, and a stronger balance sheet. But it certainly could narrow the gap and give its stock price a nice boost. In other words, ELAN may be a better buy than ZTS, but it’s not exactly cheap.

ELAN prices (upsized) dual offerings to help fund Bayer Animal Health acquisition:

https://www.elanco.com/news/press-releases/elanco-stock-and-pricing-offerings

ELAN acquires Bayer’s animal-health business for $7.6B in cash+stock:

https://finance.yahoo.com/news/1-elanco-buy-bayers-animal-101029292.html Elanco Animal Health Incorporated (ELAN) today announced it has entered into an agreement with Bayer AG to acquire its animal health business in a transaction valued at US$7.6 billion. The transaction, which is subject to regulatory approval and other customary closing conditions, creates the second largest animal health leader [behind ZTS]…

The transaction will double Elanco’s Companion Animal business, advancing the company’s intentional portfolio mix transformation and creating a balance between its Food Animal and Companion Animal segments. Elanco expects the combined organization to continue to deliver mid-single digit revenue growth…

...Elanco will finance the transaction through both cash and equity. Bayer AG will receive $5.32 billion in cash…and $2.28 billion or approximately 68 million Elanco Animal Health common shares. This represents a 70 percent to 30 percent cash-to-equity mix.

Stock received by Bayer is subject to a 7.5 percent symmetrical collar centered on Elanco’s volume-weighted average price for the 30 trading days ended August 6, 2019 of $33.60.

The transaction is expected to close in mid-2020, subject to regulatory approvals and other customary closing conditions. At the midpoint of the collar ($33.30), Bayer would receive an 18% equity stake in ELAN, but Bayer intends to monetize these shares in due course.

With product expansion and mergers closing this stock should ramp up nicely.

ELAN 1Q19 items…

PR:
https://s22.q4cdn.com/229316558/files/doc_financials/2019/2019/q1/Elanco-Q1-Earnings-Press-Release-FINAL.pdf

CC slides:
https://s22.q4cdn.com/229316558/files/doc_financials/2019/q1/Elanco-Q1-2019_Earnings-Call-slides-FINAL.pdf

ELAN acquires PETX in all-stock deal: #msg-148466146.

Barron’s showcases ‘TGDT’ attraction of animal-health stocks:

https://www.barrons.com/articles/the-animal-health-business-is-growing-how-to-invest-in-it-51553906098

The valuations of these stocks are not cheap, however.

OK, thx. Float is 80% short, not sure that fact alone would account for it completely.

A guess: Some people shorted ELAN when tendering their LLY shares in the swap, planning to cover with their newly obtained ELAN shares.

Hi Dew,

Newbie here. Appreciate your painstaking efforts. Do you know why this stock is so heavily shorted. TIA

Fenix

ELAN expands BoD:

https://www.businesswire.com/news/home/20190313005160/en

Exchange ratio for LLY-ELAN swap=4.5121, close to the previously-specified upper limit:

https://www.prnewswire.com/news-releases/lilly-announces-final-exchange-ratio-of-4-5121-for-elanco-exchange-offer-300808178.html

LLY announces tender offer for share swap:

https://www.prnewswire.com/news-releases/lilly-will-initiate-divestiture-of-its-remaining-interest-in-elanco-animal-health-300792222.html The exchange offer is designed to permit Lilly shareholders to exchange their shares of Lilly common stock for shares of Elanco common stock at a 7 percent discount, subject to an upper limit of 4.5262 shares of Elanco common stock per share of Lilly common stock.

If the upper limit is not in effect, for each $100 of shares of Lilly common stock accepted in the exchange offer, tendering shareholders would receive approximately $107.53 of Elanco common stock.

These values will be determined by reference to the simple arithmetic average of the daily volume-weighted average prices of Lilly common stock and Elanco common stock on the New York Stock Exchange during the three consecutive trading days ending on and including the second trading day preceding the expiration date of the exchange offer, which would be March 4, March 5, and March 6, 2019, if the exchange offer is not extended or terminated.

Re: ELAN’s pending full separation from LLY

LLY plans to divest its remaining ownership of ELAN via a share-swap tender offer (as PFE did with ZTS). Compared to an outright distribution, the swap offer is beneficial for ELAN insofar as LLY’s ELAN shares end up in the hands of only those investors who want them.

ELAN 4Q18 items…

PR:
https://s22.q4cdn.com/229316558/files/doc_financials/2018/q4/Elanco-2018.12.31-Press-Release-FINAL.pdf

CC slides:
https://s22.q4cdn.com/229316558/files/doc_financials/2018/q4/Elanco-2019.02.06-Call-slides-FINAL.pdf

ELAN’s closest publicly traded facsimile is ZTS, the animal-health spin-off from PFE, whose share price is up 243% from its Jan 2013 IPO (#msg-84067350).

(From 9/19/18)—Elanco—LLY’s animal-health subsidiary—IPOs 72.3M shares @$24.00:

https://www.elanco.com/news/press-releases/elanco-announces-pricing-of-initial-public-offering

https://finance.yahoo.com/news/lillys-elanco-animal-health-units-213854965.html

ELAN’s market cap at the IPO price is approximately $8.55B.

ELAN derives about 2/3 of sales from drugs for livestock and about 1/3 from drugs for pets. All told, ELAN ranks #4 in the worldwide animal-health industry.

The stock begins trading under the symbol, ELAN tomorrow (9/20/18).

lol this is huge vol. look at the average vol. of 14,000.

Why is the volume so low?

Seems almost too good to be true

no brainier here!

thats what I gather as well. should be a no brainer right

So the shares are worth 65cents, is that right?

$$$$$$$$$$$

yipes, time to move onski

shhh-it's our little profit centre, for now...

nice action here...

no reason the huge loss; put me in for a few at 0.42