Eli Lilly: animal health unit files for IPO
(CercleFinance.com) - As expected, Elanco Animal Health, a unit of US pharma giant Eli Lilly, has filed an application for an initial public offering with the US Securities and Exchange Commission (SEC).
While the number of shares to be offered and the price range have not yet been determined, the offering is expected to represent an ownership stake of less than 20% in Elanco, the company said.
Elanco expects to complete the IPO process by the end of 2018, it added.
Founded in 1954, Elanco markets animal health and food products in over 90 countries worldwide. The company has over 5,800 employees.
Lilly is splitting its animal health operations as part of a strategic review that was triggered by stagnant sales.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
While the number of shares to be offered and the price range have not yet been determined, the offering is expected to represent an ownership stake of less than 20% in Elanco, the company said.
Elanco expects to complete the IPO process by the end of 2018, it added.
Founded in 1954, Elanco markets animal health and food products in over 90 countries worldwide. The company has over 5,800 employees.
Lilly is splitting its animal health operations as part of a strategic review that was triggered by stagnant sales.
Copyright (c) 2018 CercleFinance.com. All rights reserved.