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Elanco Animal Health swings to loss in 2020

(photo courtesy of Elanco Animal Health) by: Wes Mills, Inside INdiana Business Posted: Feb 24, 2021 / 04:52 PM EST GREENFIELD, Ind. (Inside INdiana Business) Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is reporting a full-year net loss of $560 million in 2020, compared to net income of $67.9 million the previous year. Despite the drop, Elanco President and Chief Executive Officer Jeff Simmons say the company is entering 2021 “with good momentum.” The company is also reporting a fourth-quarter loss of nearly $323 million, compared to a loss of $9.5 million during the same period a year ago. “Fourth quarter revenue surpassed our guidance as U.S. Pet Health, U.S. Farm Animal, and China swine outperformed our expectations,” said Simmons.

Elanco to cut about 350 more jobs in ongoing restructuring

(IIB Photo/Alex Brown) Posted: Jan 26, 2021 / 04:40 PM EST GREENFIELD, Ind. (Inside INdiana Business) Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) says it will cut about 350 jobs globally as part of an ongoing restructuring effort. The company says the move aims to improve operational efficiency following the $7 billion acquisition of Bayer Animal Health last year. The news comes about four months after the company announced more than 900 jobs would be cut in a restructuring. As part of the latest restructuring, Elanco plans to close research and development sites in New Zealand and Germany, as well as reduce “duplication and optimize structures in U.S. operations, marketing, manufacturing and quality central functions, and administrative areas.” 

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