Elanco Animal Health - ELAN STOCK NEWS

Elanco Animal Health (NYSE: ELAN) reported robust Q2 2021 results, highlighting revenue of $1,279 million, exceeding guidance by $39 million, and a reported net loss of $210 million. This marks a 118% increase in revenue year-over-year, largely due to the acquisition of Bayer Animal Health. Adjusted EPS rose to $0.28, outperforming guidance, while adjusted EBITDA reached $291 million. The company raised its full-year revenue guidance for the third time in 2021, reflecting confidence in continued growth. Concerns include a subpoena from the SEC related to inventory practices and operational impacts from pandemic challenges.

TriRx Pharmaceutical Services has completed the acquisition of Elanco Animal Health's manufacturing site in Shawnee, Kansas, effective August 1, 2021. The transaction aims to enhance TriRx's position in the pharmaceutical contract development and manufacturing market. Approximately 300 employees will transition to TriRx, which plans to expand operations and invest in the facility. Furthermore, a long-term supply agreement ensures continued production of Elanco's products. This acquisition is part of TriRx's strategy to meet the growing needs in the Animal and Human Health markets.

Elanco Animal Health (NYSE: ELAN) will announce its Q2 2021 financial results on August 9, 2021, at 8:00 AM ET. The announcement will be followed by a conference call to discuss the company's performance with investors and the media. A live webcast will be available on Elanco's website, and a replay will be accessible shortly after the call. With nearly 70 years in the animal health sector, Elanco remains committed to innovating products that enhance the health of farm animals and pets, while also pursuing sustainability through its Elanco Healthy Purpose™ initiatives.

Elanco Foundation has partnered with the JBS Fund for the Amazon to support the RestaurAmazônia Project, aiming for sustainable farming in the Amazon. Over the next three years, Elanco will contribute $450,000 to Solidaridad Network. This initiative seeks to enhance cocoa and cattle production while preserving over 30,000 hectares of forest and reducing greenhouse gas emissions by 53%. Key targets include a 22% increase in livestock and a 40% increase in cocoa production. This partnership highlights Elanco's commitment to environmental conservation and improving rural livelihoods.

Elanco Animal Health has inked a definitive agreement to acquire Kindred Biosciences for $9.25 per share, valuing the deal at approximately $440 million. This acquisition aims to enhance Elanco's footprint in the pet health market, particularly in dermatology, with three potential blockbuster products and additional R&D programs in development. Elanco expects this combination to add $100 million to its 2025 innovation revenue target of $500-$600 million. The transaction is anticipated to close in Q3 2021, pending shareholder and regulatory approvals.

Elanco Animal Health (NYSE: ELAN) has signed a definitive agreement to acquire Kindred Biosciences (NASDAQ: KIN) for approximately $440 million, valuing KindredBio at $9.25 per share, a 52% premium. This acquisition aims to enhance Elanco's presence in the pet health market, particularly in dermatology, with three potential blockbuster products expected by 2025. Elanco anticipates that this deal will contribute an additional $100 million to its innovation revenue forecast of $500 million to $600 million by 2025. The acquisition is expected to close in Q3 2021, pending regulatory approvals.

TriRx Pharmaceutical Services announced an agreement to acquire two facilities from Elanco Animal Health, located in Shawnee, Kansas and Speke, United Kingdom. This acquisition includes physical assets and approximately 600 employees. The deal is set to enhance TriRx's manufacturing capacity and efficiency. A long-term supply agreement will maintain the production of existing Elanco products at these sites. The Shawnee facility is expected to close in the second half of 2021, while the Speke facility is anticipated to finalize by early 2022.