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Eli Lilly explores sell-off of Elanco

Indianapolis-based Eli Lilly announced Tuesday it is exploring the possibility of spinning off or selling its animal health business, Elanco.   According to the Wall Street Journal, Lilly CEO Dave Ricks says the company is reviewing its options for Elanco now because acquisitions (the 2015 purchase of Novartis AG) have been mostly integrated, which helped to boost sales globally.  And he says in recent years the company relied on its animal business as a steady revenue source when patent expirations were hurting the human pharmaceutical business, which has since steadied.

He says the company could settle on an initial public offering, merger or sale, or could even decide to keep Elanco following the review.

 

Ricks says once the review is complete, a decision should come by mid-2018.