Elanco Animal Health Inc., a subsidiary of Eli Lilly and Co., announced September 6 that it has launched a roadshow for the initial public offering (IPO) of its common stock.

Elanco is offering 62.9 million shares of its common stock in the IPO. The underwriters will also have a 30-day option to purchase up to 9.4 million additional shares of common stock at the IPO price, less underwriting discounts and commissions. The IPO price is expected to be between $20 and $23 per share. Elanco expects to list its common stock on the New York Stock Exchange under the ticker symbol "ELAN."

After the IPO, Lilly is expected to hold approximately 82.3 percent of Elanco (80.2 percent if the underwriters' overallotment option is exercised in full). The net proceeds from the IPO, net of certain amounts to be retained by Elanco, are expected to be paid to Lilly as partial consideration for the animal health businesses that Lilly is transferring to Elanco in connection with the IPO.

Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley are joint lead book-running managers for the offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from:


Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, email: prospectus-ny@ny.email.gs.com, telephone: +1.866.471.2526, fax: +1.212.902.9316;

J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at +1.866.803.9204 or by email at prospectus-eq_fi@jpmchase.com; or

Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.