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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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