Eli Lilly and Company announced that its subsidiary, Elanco Animal Health, has filed a registration statement with the SEC for an initial public offering, or IPO, of common stock. The offering is expected to represent an ownership stake of less than 20% in Elanco. The number of shares to be offered and the price range for the offering have not yet been determined. The company expects to complete the IPO process before the end of 2018. Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley will act as the joint book-running managers for the proposed IPO.
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