Lilly Files Elanco IPO Registration

Posted: Updated:
The offering is expected to represent a less than 20 percent ownership stake in Elanco. The offering is expected to represent a less than 20 percent ownership stake in Elanco.
INDIANAPOLIS -

Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has taken the next step in the planned spin off of Greenfield-based Elanco Animal Health. The company has filed a registration with the U.S. Securities and Exchange Commission for an initial public offering.

The offering is expected to represent a less than 20 percent ownership stake in Elanco. The company has not yet announced the price range and number of shares to be offered.

Lilly last week announced plans to spin off Elanco with an IPO by the end of the year. At the time, Lilly CEO Dave Ricks said the move will allow Lilly "even greater focus on our human pharmaceutical business." The decision came after completing a review of options involving the animal health company that began a year ago.

In an interview with Inside INdiana Business last week, University of Indianapolis Associate Professor of Finance Matt Will called the decision "long overdue," saying it had the potential to "unleash" Elanco to have more financial success.

  • Perspectives

    • What Makes Up Quality of Place?

      Economic development is a hot topic these days. With the economy continuing to chug along in robust fashion and unemployment approaching historic lows, communities are refining their objectives and priorities to eek every drop of benefit they can from these financially strong times. Nowhere is this focus greater than with “quality of place,” As cities and states think about how they can distinguish themselves from their peers, a common starting point is developing a...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Computer Science, Gaming Collide With 'Hour of Code'

      Elementary school students in the Metropolitan School District of Decatur Township in Indianapolis are getting an early lesson in coding through the international Hour of Code program. The initiative is designed to give people an introduction to computer science and coding, and Lynn Hodgkin, elementary media coordinator for the district, says it takes a game-centered approach to teaching coding to kids. The students are participating in the Hour of Code at the...

    • The Heritage Group Founder to be Remembered

      Services are set for noted businessman and philanthropist Fred Fehsenfeld, founder of Indianapolis-based The Heritage Group, who passed away last week at the age of 94. Fehsenfeld, a graduate of Purdue University and decorated World War II veteran, will be remembered Saturday during a Celebration of Life, at The Center on the northwest side of Indianapolis.

    • St. Vincent Names Manas Regional President

      Julie Manas has been selected to serve as regional president of the St. Vincent North Region, which includes St. Vincent Anderson, Carmel, Fishers, Kokomo, Mercy, Randolph and Williamsport hospitals. She has more than 30 years of healthcare experience and most recently comes from Hospital Sisters Health System, Western Wisconsin Division, where she held the role of president and chief executive officer.

    • On-Air

      Find out when and where you can watch and listen to our reports.

    • The Amazon Effect: How Big is The Economic Impact?

      Jeff Bezos, CEO of Amazon, increased his net worth by $6.44 billion dollars just by saying a few words. He announced the company's earnings on October 26, 2017, and Amazon stock jumped 8 percent. How are you impacted by the Amazon Effect?