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Elanco Animal Health
2500 Innovation Way
Greenfield, IN 46140 USA

1-877-ELANCO1

(1-877-352-6261)

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06-SEP-2018

Elanco Announces Launch of IPO Roadshow

Post by: Colleen Parr Dekker

GREENFIELD, IND. (September 6, 2018) – Elanco Animal Health Incorporated, a subsidiary of Eli Lilly and Company (NYSE:LLY), today announced 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 currently expected to be between $20.00 and $23.00 per share. Elanco expects to list its common stock on the New York Stock Exchange under the ticker symbol “ELAN.”

Following the IPO, Lilly is expected to hold approximately 82.3% of Elanco (80.2% 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 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.

About Eli Lilly and Company

Lilly is a global healthcare leader that unites caring with discovery to make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism.

About Elanco Animal Health

Founded in 1954, Elanco provides comprehensive products and knowledge services to improve animal health and food-animal production in more than 90 countries around the world. We value innovation, both in scientific research and daily operations, and strive to cultivate a collaborative work environment for more than 5,800 employees worldwide. Together with our customers, we are committed to raising awareness about global food security, and celebrating and supporting the human-animal bond. Our worldwide headquarters and research facilities are located in Greenfield, Indiana.

C-LLY

This press release contains forward-looking statements that are based on management's current expectations, but actual results may differ materially due to various factors. These statements relate to the offering and the use of proceeds therefrom. There are significant risks and uncertainties relating to the offering. There can be no guarantees that the IPO will be consummated on the timeline anticipated or at all or that Lilly will achieve the anticipated benefits of the IPO. Lilly's ability to consummate and achieve the anticipated benefits of the IPO may be materially affected by such factors as changes to the business, results of operation or financial condition of Elanco or Lilly, changes in the animal health or pharmaceutical industries, adverse market or macroeconomic conditions and other factors outside Lilly's control that could affect the advisability, pricing and timing of the potential IPO. For additional information about the factors that affect Lilly's and Elanco's businesses, please see its respective filings with the SEC. Each of Lilly and Elanco undertakes no duty to update forward-looking statements, except as may be required by law.

Media Contact:
Colleen Parr Dekker
(317) 989-7011
parr_dekker_colleen@elanco.com

Investors Contact:
Jim Greffet
(317) 383-9935
greffet_james_f@lilly.com

General Inquiries

Elanco Animal Health
2500 Innovation Way
Greenfield, IN 46140 USA

1-877-ELANCO1

(1-877-352-6261)

Media Contacts

Questions?
Contact us.



Our Global Offices

Follow Elanco

About Elanco

Elanco provides comprehensive products and knowledge services to improve animal health and food-animal production in more than 70 countries around the world. We value innovation, both in scientific research and daily operations, and strive to cultivate a collaborative work environment for more than 6,250 employees worldwide. Together with our customers, we are committed to raising awareness about global food security, and celebrating and supporting the human-animal bond. Founded in 1954, Elanco is a division of Eli Lilly and Company. Our worldwide headquarters and research facilities are located in Greenfield, Indiana. Visit us at Elanco.com and EnoughMovement.com.