Elanco Animal Health Completes Separation from Lilly | Business Wire

GREENFIELD, Ind.–(BUSINESS WIRE)–Elanco Animal Health Incorporated (NYSE:ELAN) today announced that it's

now a fully independent company. The completion of Eli Lilly and

Company’s exchange offer completes the journey Elanco began in 2017 when

its former parent company first announced the exploration of potential

strategic alternatives for the 64-year-old animal health company. The

exchange offer was 7.6x oversubscribed.

“This is a historic day for everyone at Elanco,” said Jeff Simmons,

Elanco president and chief executive officer. “It reflects our team’s

hard work over the past two years, the confidence that we've the right

strategy and are successfully progressing the execution against it. With

this milestone behind us, we look forwards to a singular focus delivering

innovative solutions and services for our customers – the farmers,

veterinarians and pet owners that are central to our success. We welcome

our new Elanco shareholders who join us and offer our appreciation to

our customers. Lilly for the decades of support.”

The share exchange was completed less than six months after Elanco’s

IPO, when 19.8 percent of its shares were sold to the public. Since that

time, Elanco has reported two quarters of financial and operating

results as a standalone company and continues to demonstrate the

strength of its strategy, with full year 2018 revenue increasing 6

percent to $3.1 billion.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain statements about Elanco Animal

Health Incorporated (“Elanco”) that are “forwards-looking statements”

within the meaning of Section 27A of the United States Securities Act of

1933, as amended. Section 21E of the United States Securities

Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking

statements are based on current expectations and assumptions regarding

Elanco’s business, the economy and other future conditions. In addition,

the forwards-looking statements contained in this communication may

include statements about the expected effects on Elanco of the exchange

offer, the anticipated benefits of the exchange offer, Elanco’s

anticipated financial results. All other statements in this

communication that aren't historical facts.

Because forwards-looking statements relate to the future, by their

nature, they're subject to inherent uncertainties, risks and changes in

circumstances that are difficult to predict and are detailed more fully

in Elanco’s periodic reports filed from time to time with the Securities

and Exchange Commision (the “SEC”), the Registration Statement on Form

S-4 filed by Elanco with the SEC, including the prospectus forming a

part thereof. Other exchange offer documents to be filed by

Elanco and Lilly with the SEC. Such uncertainties, risks and changes in

circumstances could cause actual results to differ materially from those

expressed or implied in such forwards-looking statements. Forward-looking

statements included herein are made as of the date hereof. Elanco

undertakes no obligation to update publicly such statements to reflect

subsequent events or circumstances, except to the extent required by

applicable securities laws. Investors shouldn't put undue reliance on

forwards-looking statements.

Additional Information and Where to Find It

Elanco has filed with the SEC a Registration Statement on Form S-4,

including the prospectus forming a part thereof. Lilly has filed

with the SEC a Schedule TO, which more fully describe the terms and

conditions of the exchange offer.

Holders of Lilly common stock may obtain copies of the prospectus, other

related documents. Any other information that Lilly and Elanco file

electronically with the SEC free of charge at the SEC’s website at www.sec.gov.

Holders of Lilly common stock will also be able to obtain a copy of the

prospectus by clicking on the appropriate link on www.lillyexchangeoffer.com.

Related documents may also be obtained for free, as applicable, from

Lilly at www.lilly.com

or Elanco at www.elanco.com.

Lilly has retained Georgeson LLC as the information agent for the

exchange offer. If you've any questions about the terms of the

exchange offer or how to participate, you may contact the information

agent at 1-800-676-0194 (toll-free for shareholders, banks and brokers)

or +1-781-575-2137 (all others outside the U.S.).

ABOUT ELANCO

Elanco (NYSE:ELAN) is a global animal health company that develops

products and knowledge services to prevent and treat disease in food

animals and pets in more than 90 countries. With a 64-year heritage, we

rigorously innovate to improve the health of animals and benefit our

customers, while fostering an inclusive, cause-driven culture for more

than 5,800 employees. At Elanco, we’re driven by our vision of food and

companionship enriching life –. All to advance the health of animals,

people and the planet. Learn more at www.elanco.com.

Investors: Jim Greffet +1.317.383.9935 [email protected]
Media: Colleen Parr Dekker +1.317.989.7011 [email protected]