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Mergers & Acquisitions

Lilly to spin off Elanco Animal Health in IPO

by Melody M. Bomgardner
July 27, 2018 | A version of this story appeared in Volume 96, Issue 31

 

A photo of cows in a large feeding operation.
Credit: Shutterstock
Elanco sells vaccines and drugs for cows and other livestock.

Following a study period, Eli Lilly & Co. has decided to spin off its Elanco Animal Health business in order to focus on human health. Elanco sells drugs and vaccines for livestock and pets. Lilly says it will file for an initial public stock offering of 20% of Elanco in the coming weeks. Pfizer made a similar move in 2013 when it spun off its Zoetis animal health business. In 2016, Sanofi also rid itself of its animal health business, Merial, by trading it for Boehringer Ingelheim’s consumer health care business.

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