On September 6, 2018, Elanco Animal Health Incorporated (NYSE: “ELAN”), the animal health business of Eli Lilly & Co. (NYSE: LLY; $105.64; Market Capitalization: $113.5 billion) announced the price range for its upcoming IPO. Deal RationaleLLY’s animal health business has grown not just in size but in identity and operations, making it distinct from the human health business. ELAN’s companion animal business is already outperforming its food animal unit in recent quarters and this should continue into 2019. ELAN’s M&A activity involved large deals with the acquisitions of Novartis Animal Health, Lohmann Animal health and Boehringer Ingram’s vaccine portfolio being the highlights. Elanco Animal Health Incorporated (Carve-Out)Elanco Animal Health Incorporated (ELAN) is a premier animal health company that develops, manufactures and markets products for companion and food animals.

Source: Forbes September 12, 2018 17:15 UTC