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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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612 days ago
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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800 days ago
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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801 days ago
Canadian Dollar Eases Against Most Majors
The Canadian dollar retreated against its most major counterparts in the New York session on Friday.
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6h 7min ago
Swiss Market Ends Sharply Lower
The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
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10h 18min ago
European Stocks Close Weak As Trade War Fears Hurt Sentiment
European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
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10h 35min ago
Canadian Market Remains Weak On Tariff Concerns
After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
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11h 14min ago
Bay Street Likely To Open Lower
Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
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14h 57min ago
