Elanco Reports Q1 Profit
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Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is reporting first quarter net income of $48 million, compared to a net loss of $61 million during the same period last year. Chief Executive Officer Jeff Simmons says the results demonstrate “consistent delivery and strong execution” throughout the business.
“We are already seeing the benefits of a leaner, more agile organization, contributing to our ability to reduce operating expenses sequentially and adapt quickly to the changing macro environment,” said Simmons. “Elanco is well positioned in the durable Animal Health industry, our strategy is working, and the team is consistently delivering on the items within our control, including our company-wide productivity agenda and price.”
Last month, Elanco celebrated the beginning of construction on its $100 billion global headquarters on the near west side of Indianapolis. In an interview with Inside INdiana Business, Jeff Simmons said the project will help transform the Circle City into a global animal health epicenter.
“Additionally, we continue to strengthen the business and advance our late-stage pipeline, including achieving two major milestones for our Pet Health potential blockbuster candidates, and with our recently announced strategic alliance with Royal DSM for Bovaer in the U.S.,” said Simmons. “These advances and the execution of the Elanco team provide a foundation for the next era of growth at Elanco and continued value for our customers.”
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