Elanco Animal Health Incorporated recently announced that it is now a fully independent company, becoming the second largest exclusively dedicated animal health company in the world.
Last September, Elanco listed on the New York Stock Exchange and on 11 March, Eli Lilly and Company, Elanco’s former parent company, completed the divestiture of its ownership.
Elanco’s independence is a result of its diversification of the business and expansion of its global footprint—from largely a US- and livestock-focused business to an even split between US and international sales. Furthermore, the company built a strong pet business that now accounts for a third of the company globally.
“This is a historic day for everyone at Elanco,” Elanco president and chief executive officer Jeff Simmons said.
“It reflects our team’s hard work over the past two years, the confidence that we have the right strategy and are successfully progressing the execution against it.
“With this milestone behind us, we look forward to a singular focus delivering innovative solutions and services for our customers—the farmers, veterinarians and pet owners that are central to our success. We welcome our new Elanco shareholders who join us and offer our appreciation to our customers, and Lilly for the decades of support.”