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.
read more
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.
RTTNews
|
359 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...
RTTNews
|
547 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
RTTNews
|
548 days ago
U.S. Consumer Prices Increase In Line With Estimates In September
The Commerce Department on Thursday released its report on U.S. personal income and spending in the month of September, which includes the Federal Reserve's preferred readings on consumer price inflation.
RTTNews
|
4h 45min ago
U.S. Weekly Jobless Claims Fall To 216,000
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing an unexpected decline by first-time claims for U.S. unemployment benefits in the week ended October 26th.
RTTNews
|
4h 54min ago
Bay Street Seen Opening On Weak Note
Canadian stocks are likely to open on a weak note Thursday morning, weighed down by weak commodity prices, and global stocks. Disappointing earnings from U.S. tech giants Meta Platforms and Microsoft may also weigh.
RTTNews
|
5h 1min ago
Sensex, Nifty Extend Losses For Second Day
Indian shares fell notably on Thursday to extend losses from the previous session as investors awaited U.S. non-farm payrolls figures, inflation data and next week's presidential election for insight into the Federal Reserve policy.
RTTNews
|
7h 1min ago
French Inflation Rises Less Than Forecast
France's consumer price inflation rose at a slower-than-expected pace in October, provisional estimate from the statistical office INSEE showed on Thursday. Consumer price inflation rose slightly to 1.2 percent in October from 1.1 percent in September. The rate was forecast to climb to 1.9 percent.
RTTNews
|
7h 31min ago
