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Elanco Animal Health Closes Sale Of Aqua Business To Merck Animal Health
(RTTNews) - Elanco Animal Health, Inc. (ELAN) announced Tuesday it has completed the divestiture of its aqua business to Merck Animal Health (MRK) for approximately $1.3 billion in cash, with approximately $1.05 billion to $1.1 billion in net proceeds available for debt paydown in the third quarter of 2024.
The successful completion of this transaction enables the company to pay down term loan debt on a pro-rata basis per the terms of the company's credit agreements.
Combined with the expected $280 million to $320 million of cash generated from the base business, the company expects to pay down approximately $1.3 billion to $1.4 billion of debt in 2024.
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Elanco Animal Health Boosts FY23 Adj. EPS, Revenue Outlook As Q3 Results Top Estimates
Elanco Animal Health Inc. (ELAN) reported Tuesday a net loss for the third quarter of $1.10 billion or $2.22 per share, sharply wider than $65.0 million or $0.13 per share in the prior-year quarter.
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660 dias atrás
Elanco's Canine Parvovirus Treatment Gets USDA License
Elanco Animal Health Inc. announced that the U.S. Department of Agriculture or USDA has issued a conditional license for its Canine Parvovirus Monoclonal Antibody. The company expects to begin shipping Canine Parvovirus Monoclonal Antibody in the coming weeks, pending individual state approvals. The targeted single-dose monoclonal antibody is the first and only approved targeted therapeutic...
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848 dias atrás
FDA Approves First Drug For Anemia In Cats With CKD
The U.S. Food and Drug Administration conditionally approved Elanco US Inc.'s Varenzin-CA1 (molidustat oral suspension) for treating anemia in cats with chronic kidney disease or CKD. It is the first drug for the control of nonregenerative anemia associated with CKD in cats. Varenzin-CA1 works by helping to increase production of erythropoietin in the kidney, which in turn stimulates the bone mar
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849 dias atrás
Swiss Market Ends Marginally Up
The Switzerland market ended marginally up on Thursday after a choppy ride as stocks swung between gains and losses right through the day's trading session.
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1h 40min atrás
European Stocks Close Weak
European stocks closed lower on Thursday as the mood remained largely cautious with investors closely following geopolitical news, digesting tech giant Nvidia's earnings, and some crucial economic data from the U.S.
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2h 0min atrás
Canadian Stocks Turning In Mixed Performance; TSX Down Marginally
After a positive start and a subsequent drop early on in the session, the Canadian market remains weak around early afternoon on Thursday, weighed down by losses in consumer staples, industrials and communications sectors.
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2h 33min atrás
U.S. Pending Home Sales Fall More Than Expected In July
A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. fell by more than expected in the month of July. NAR said its pending home sales index decreased by 0.4 percent to 71.7 in July after sliding by 0.8 percent to 72.0 in June. Economists had expected pending home sales to edge down by 0.1 percent.
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5h 0min atrás
Eurozone Economic Confidence Weakens In August
Eurozone economic sentiment softened unexpectedly in August as only industry and retail trade showed improvements, survey results from the European Commission showed Thursday. The economic sentiment indicator slid to 95.2 in August from a revised 95.7 in the previous month. The score was forecast rise to 96.0.
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5h 10min atrás
