ELAN - Mergers and acquisitions

GREENFIELD, Ind., Nov. 15, 2024 /PRNewswire/ -- Elanco Animal Health Incorporated (NYSE:ELAN) today acquired a contract manufacturing facility and related assets in Speke, UK. The facility, previously owned by TriRx Speke Ltd., was under trading administration, a formal insolvency process in the United Kingdom. As previously shared on the Company's third quarter 2024 earnings call, the Speke facility plays a vital role for Elanco in producing a number of farm animal product lines, representing approximately $160 million to $180 million in annual farm animal revenue, primarily

Streamlining and simplifying organizational structure to reduce complexity and focus investments in priority areas that drive growth and innovation. Eliminating approximately 380 positions, including approximately 20% of Elanco's senior management, creating a fourth quarter 2021 charge to GAAP net income of $65 million to $71 million and generating approximately $70 million in savings once fully realized to support delivery of the company's adjusted gross margin and adjusted EBITDA expansion goals. Savings of approximately $60 million in 2022 will help offset added inflation costs, drive incremental productivity savings, and enable concentrated investments driving growth and innovation