New products helped Eli Lilly & Co. exceed expectations in the second quarter, leading to increased financial guidance for the rest of the year, and the company hopes to keep the momentum going via the reinvestment of cash freed up by the separation of its animal health business later this year.
Lilly Looks To Spin Off Animal Health, Focus Cash On Pharma Growth
Lilly confirmed that it will separate its Elanco animal health business from the rest of the company via an IPO, allowing Lilly to focus its resources on pharma growth driven by internal and acquired drugs.
