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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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534 дней спустя
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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722 дней спустя
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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723 дней спустя
Asian Markets Track Wall Street Higher
Asian stock markets are mostly higher on Friday, following the broadly positive from Wall Street overnight, as traders remain optimistic about a favorable outcome from the ongoing tariff negotiations between the U.S. and several partner countries, particularly China, Japan, South Korea and India. Comments from two US Fed officials about cutting interest rates also improved market sentiment.
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5 минут назад
Japanese Market Sharply Higher
Extending the gains in the previous two sessions, the Japanese market is sharply higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is surging to stay just below the 35,600 level, with gains across all sectors led by index heavyweights, exporters and technology stocks.
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31 минут назад
Sensex, Nifty Seen Higher At Open
Indian shares look set to open higher on Friday after U.S. Treasury Secretary Scott Bessent said the U.S. and South Korea could reach an "agreement of understanding" on trade as soon as next week.
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45 минут назад
Thai Stock Market Tipped To Open To The Upside On Friday
The Thai stock market on Thursday snapped the two-day winning streak in which it had gained almost 20 points or 1.8 percent. The Stock Exchange of Thailand now sits just above the 1,145-point plateau although it's expected to rebound on Friday.
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1ч 21мин назад
Indonesia Shares May Bounce Higher Again On Friday
The Indonesia stock market on Thursday wrote a finish to the four-day winning streak in which it had climbed almost 240 points or 3.7 percent. The Jakarta Composite Index now rests just above the 6,610-point plateau although it's expected to see renewed support on Friday.
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1ч 51мин назад
