Elanco Quarterly Profit Narrows

Elanco is headquartered in Greenfield.

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Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is reporting first quarter net income of $31.5 million, down from $72.7 million during the same period last year. Despite the drop, Chief Executive Officer Jeff Simmons says the company is seeing improved value through efficiencies and cost savings.

Simmons says the first quarter results demonstrate the value of the company’s portfolio approach, delivering 2 percent constant currency sales growth. "We remain encouraged by the growth of our innovation portfolio and are making strategic investments that advance all three pillars of our strategy."

The results come less than a month after Elanco announced its planned $245 million acquisition of Kansas-based Aratana Therapeutics (Nasdaq: PETX) and its collaboration with VetDC is Colorado.

You can connect to the full earnings report by clicking here.