Elanco Animal Health Incorporated (ELAN) is a global leader in the animal health industry, dedicated to innovating and delivering products and services to prevent and treat diseases in both farm animals and pets. The company offers a diverse portfolio of approximately 200 brands, marketed globally to enhance the health and wellbeing of animals. Elanco's operations focus on providing solutions for pet health and farm animal health, with a strong emphasis on sustainability and food safety .
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Pet Health - Offers parasiticides, vaccines, and therapeutics for pets, including products like the Advantage Family, Seresto, and Credelio Family, aimed at protecting pets from parasites and treating various health conditions .
- Advantage Family - Provides flea and tick prevention solutions for pets.
- Seresto - Delivers long-lasting flea and tick protection through a collar format.
- Credelio Family - Offers oral treatments for flea and tick infestations.
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Farm Animal - Focuses on products for cattle, swine, poultry, and aquaculture, enhancing efficiency, disease prevention, and sustainability with key products like Rumensin and Baytril .
- Rumensin - Improves feed efficiency and growth in cattle.
- Baytril - Provides antimicrobial solutions for various farm animals.
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Contract Manufacturing - Manufactures products on behalf of third parties, supporting the production needs of other companies within the animal health industry .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jeffrey N. Simmons ExecutiveBoard | President and Chief Executive Officer | None | CEO of Elanco since its IPO, leading the company’s strategy and operations. No external roles mentioned. | View Report → |
James M. Meer Executive | Senior Vice President, Chief Accounting Officer | None | Joined Elanco in 2018, previously CFO at Healthx, Inc., and held senior roles at Appirio and Salesforce. | |
Shiv O’Neill Executive | Executive Vice President, General Counsel and Corporate Secretary | None | Oversees legal, compliance, and ESG matters. Previously held legal roles at Cummins Inc. and Baker & Daniels LLP. | |
Todd S. Young Executive | Executive Vice President and CFO | None | CFO since 2018, overseeing financial operations, IT, and transformation initiatives. Previously CFO at ACADIA Pharmaceuticals. | |
Art Garcia Board | Independent Director | Director at Raymond James, AEP, and ABM Industries | Former CFO of Ryder System, with expertise in finance and business integration. | |
Craig Wallace Board | Independent Director | President of C.S. Wallace Investments; Board Member at 1C and KeraVet Bio | Nearly 35 years in animal health, including leadership roles at Ceva Santé Animale and Trupanion. | |
Deborah Kochevar Board | Independent Director | Board Member at Charles River Laboratories; Senior Fellow at Tufts University | Chair of Elanco’s Innovation, Science, and Technology Committee. Extensive academic and veterinary medicine background. | |
Denise Scots-Knight Board | Independent Director | CEO and Director at Mereo BioPharma Group | Co-founder of Mereo BioPharma, with extensive experience in biopharma and oncology. | |
Kathy Turner Board | Independent Director | Board Member at Veterinarians Without Borders | Former Chief Marketing Officer at IDEXX Laboratories. Extensive experience in animal health and diagnostics. | |
Kirk McDonald Board | Independent Director | Board Member at Ziff Davis | Former CEO of GroupM North America. Expertise in marketing, digital, and technology. | |
Lawrence Kurzius Board | Chairman of the Board | Executive Chairman at McCormick & Co.; Board Member at The Cooper Companies | Chairman of Elanco since 2024, with extensive experience in consumer goods and governance. Former CEO of McCormick. | |
R. David Hoover Board | Independent Director | None | Former Chairman of Elanco (2018–2024). Previously CEO of Ball Corporation. | |
Stacey Ma Board | Independent Director | EVP at Gilead Sciences; Associate Director at CASSS | Recognized leader in biopharma development and manufacturing. Named a Top 20 Women Leader in Biopharma R&D. | |
William Doyle Board | Independent Director | Executive Chairman at Novocure; Director at ProKidney Corp. | Expertise in finance, strategy, and innovation. Former Director at Zoetis. |
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Despite your expanded portfolio with products like Zenrelia and Credelio Quattro, competitive pressures in U.S. pet health vet clinics remain a significant headwind. Can you specify which areas you're still at a competitive disadvantage and how you plan to address these challenges?
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With Zenrelia's launch, have you identified a percentage of veterinary practices that consider the product label a "nonstarter"? How are you mitigating concerns among these practices to drive adoption in line with your expectations?
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Experior is expected to surpass $100 million in global sales this year. Can you quantify its current market penetration and elaborate on its long-term growth potential, especially with the recent Heifer clearances?
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As you introduce Credelio Quattro, how do you anticipate managing potential cannibalization of your existing Credelio user base versus capturing new market share? At what point do you expect Credelio Quattro to become accretive?
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Given your projection of mid-single-digit revenue growth but only low single-digit adjusted EBITDA growth in 2025, can you elaborate on the factors hindering operating leverage next year and your strategy for driving margin expansion in 2026 and beyond?
Research analysts who have asked questions during Elanco Animal Health earnings calls.
Michael Ryskin
Bank of America Merrill Lynch
6 questions for ELAN
Brandon Vazquez
William Blair & Company, L.L.C.
4 questions for ELAN
Daniel Clark
Leerink Partners
4 questions for ELAN
Jonathan Block
Stifel Financial Corp.
4 questions for ELAN
Andrea Zayco Narvaez Alfonso
UBS
3 questions for ELAN
Erin Wilson Wright
Morgan Stanley
3 questions for ELAN
Michael DiFiore
Evercore ISI
3 questions for ELAN
Navann Ty
BNP Paribas S.A.
3 questions for ELAN
Andrea Alfonso
UBS
2 questions for ELAN
Andrew Dusing
Cleveland Research
2 questions for ELAN
Balaji Prasad
Barclays
2 questions for ELAN
Christopher Schott
JPMorgan Chase & Co.
2 questions for ELAN
David Westenberg
Piper Sandler
2 questions for ELAN
Ekaterina
JPMorgan Chase & Co.
2 questions for ELAN
Jon Block
Stifel, Nicolaus & Company, Incorporated
2 questions for ELAN
Linda Bolduc
Morgan Stanley
2 questions for ELAN
Navann Ty Dietschi
BNP Paribas
2 questions for ELAN
Umer Raffat
Evercore ISI
2 questions for ELAN
Ekaterina Knyazkova
Cantor Fitzgerald
1 question for ELAN
Erin Wright
Morgan Stanley
1 question for ELAN
Mike Curry
Evercore ISI
1 question for ELAN
Ross Sparenblek
William Blair & Company
1 question for ELAN
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
TriRx Speke Ltd. | 2024 | Elanco acquired the TriRx Speke facility for $25 million in cash on November 15, 2024, to secure a critical manufacturing site that contributes approximately $160–$180 million in annual farm animal revenue; the deal included interim funding during administration and long-term supply chain continuity provisions. |
NutriQuest LLC | 2023 | Elanco’s acquisition of NutriQuest LLC involved a total purchase consideration of $58 million, including $16 million in upfront cash, $5 million deferred, and a contingent payment structure of up to $85 million, aimed at bolstering its product pipeline and innovation revenue through key marketed and intangible assets. |
NutriQuest Brazil | 2023 | The acquisition of NutriQuest Brazil closed on August 1, 2023, for a total of $19 million (with $3 million cash at closing and $16 million payable through 2026, subject to conditions), securing inventory and distribution rights alongside preliminary purchase price allocations and amortization of intangible assets over nine years. |
KindredBio | 2021 | Elanco completed the KindredBio acquisition for approximately $444 million (at $9.25 per share) on August 27, 2021, strategically enhancing its pet health portfolio—especially in dermatology—with a promising pipeline of biologics and monoclonal antibodies, including a canine parvovirus treatment expected to drive long-term revenue growth. |
Recent press releases and 8-K filings for ELAN.
- Elanco reported strong Q3 2025 results, with 9% organic constant currency revenue growth, $1.137 billion in revenue, $198 million in adjusted EBITDA, and $0.19 in adjusted EPS.
- The company raised its full-year 2025 guidance, now expecting organic constant currency growth of 6%-6.5%, adjusted EBITDA of $880 million-$900 million, and adjusted EPS of $0.91-$0.94.
- Innovation revenue year-to-date reached $655 million, with full-year expectations raised to $840 million-$880 million; Credelio Quattro achieved blockbuster status with $100 million in net sales in less than eight months.
- The net leverage ratio improved to 3.7x at quarter-end, and Elanco refinanced its $2.1 billion term loan B facility, extending maturities through 2032.
- Elanco reported strong Q3 2025 results, with 9% organic constant currency revenue growth to $1.137 billion, adjusted EBITDA of $198 million, and adjusted EPS of $0.19.
- The company raised its full-year 2025 guidance, now anticipating organic constant currency revenue growth of 6-6.5%, adjusted EBITDA of $880 million-$900 million, and adjusted EPS of $0.91-$0.94.
- Innovation revenue year-to-date reached $655 million, with the full-year expectation raised to $840 million-$880 million. Credelio Quattro achieved $100 million in net sales in less than eight months, and Experior grew 70% in Q3.
- Elanco improved its net leverage ratio to 3.7 times at quarter end and refinanced its $2.1 billion term loan B facility, extending maturities through 2032.
- Elanco reported strong Q3 2025 results, with 9% organic constant currency growth and $1.137 billion in revenue, exceeding guidance for revenue, adjusted EBITDA, and adjusted EPS.
- The company raised its full-year 2025 outlook, now projecting organic constant currency growth of 6-6.5%, adjusted EBITDA of $880-$900 million, and adjusted EPS of $0.91-$0.94.
- Full-year innovation revenue guidance was increased by $100 million at the midpoint to $840 million-$880 million, with Credelio Quattro reaching $100 million in net sales year-to-date through September.
- Elanco improved its net leverage ratio to 3.7 times at quarter end and refinanced its $2.1 billion term loan B facility, extending maturities through 2032.
- For 2026, the company expects margin expansion from the Elanco Ascend program and aims for a net leverage ratio under 3x longer term, despite an anticipated $15 million increase in interest expense.
- Elanco Animal Health reported strong Q3 2025 results, with revenue of $1,137 million, Adjusted EBITDA of $198 million, and Adjusted Diluted EPS of $0.19, all exceeding guidance ranges. The company achieved 9% organic constant currency revenue growth.
- The company raised its full-year 2025 guidance, now expecting revenue between $4,645 million and $4,670 million, Adjusted EBITDA between $880 million and $900 million, and Adjusted Diluted EPS between $0.91 and $0.94.
- Year-to-date innovation revenue contribution reached $655 million, with the 2025 target raised to $840-$880 million.
- Elanco achieved a quarter-end net leverage ratio of 3.7x and improved its year-end target to 3.7x-3.8x, also successfully refinancing its 2027 Term Loan B.
- Elanco Animal Health reported strong third quarter 2025 results, with revenue of $1,137 million, a 10% increase year-over-year, and Adjusted EPS of $0.19.
- The company raised its full-year 2025 revenue guidance to $4,645 million to $4,670 million and its Adjusted EPS guidance to $0.91 to $0.94.
- Elanco also improved its 2025 year-end net leverage ratio target to 3.7x to 3.8x and successfully completed the refinancing of its $2.1 billion Term Loan B debt facility.
- Growth was driven by new products, with Credelio Quattro achieving $100 million in net sales in under eight months, and Experior and AdTab showing significant Q3 sales increases of approximately 70% and over 25% year-over-year, respectively.
- Elanco Animal Health reported Q3 2025 revenue of $1,137 million, an increase of 10% year-over-year, with 9% organic constant currency growth.
- For Q3 2025, the company posted an Adjusted Net Income of $94 million and Adjusted EPS of $0.19.
- Elanco raised its full-year 2025 revenue guidance to $4,645 million to $4,670 million and its Adjusted EBITDA guidance to $880 million to $900 million.
- The company improved its 2025 year-end net leverage ratio target to 3.7x to 3.8x, having already achieved 3.7x as of September 30, 2025.
- Elanco Animal Health Incorporated executed Amendment No. 3 to its Credit Agreement on October 31, 2025, to refinance existing term loans.
- This amendment includes new commitments of $1,100,000,000 for 2025 Refinancing TLB Loans, €400,000,000.00 for 2025 Euro TLA Commitments, and $540,000,000 for 2025 Farm Credit Term Loan Commitments.
- The Credit Agreement also modified investment limitations, increasing the aggregate outstanding amount for general investments to the greater of $600,000,000 and 0.60 times EBITDA (previously 0.50 times EBITDA), and for joint venture investments to the greater of $180,000,000 and 0.21 times EBITDA (previously 0.15 times EBITDA).
- Elanco Animal Health announced on October 27, 2025, that the FDA approved expanded labels for its canine parasiticides, Credelio Quattro and Credelio.
- The expanded labels now include prevention of Lyme disease as a direct result of killing black-legged ticks and treatment and control of longhorned tick infestations.
- This expansion addresses a growing market need, with over 422,000 cases of Lyme disease in dogs recorded so far this year, surpassing the total for all of 2019, and the longhorned tick rapidly spreading across 22 states.
- Elanco Animal Health has received the first-ever Emergency Use Authorization (EUA) from the U.S. FDA for its Credelio tablets to treat New World screwworm infestations in dogs.
- This authorization addresses a re-emerging threat, as the screwworm parasite, previously eradicated from the U.S., has been detected near the southern border.
- Credelio, an existing flea and tick control drug, demonstrated 100% efficacy in clearing screwworm larvae within 24 hours in a small study, though the authorization is temporary and potential side effects include tremors and seizures.
- Elanco Animal Health has secured the first-ever FDA Emergency Use Authorization (EUA) for its product Credelio™ (lotilaner) to treat New World screwworm (NWS) infestations in dogs.
- This authorization provides a critical, ready-now treatment option for veterinarians and pet owners, as NWS cases have been confirmed less than 70 miles south of the U.S.-Mexico border.
- The EUA is supported by a study demonstrating 100% efficacy of Credelio against NWS larvae within 24 hours in naturally infested dogs.
- While Credelio is not specifically approved for NWS treatment, it is approved for other uses like flea and tick control, which is important for preventing NWS infestations.