Elanco announces restructuring plan and three-year financial outlook; Befrena technical sections complete

Elanco Animal Health Inc

Restructuring: ~300 jobs eliminated, ~300 shifted; ~$175M pretax charge (~$130M cash); closure of Kansas City implant facility, partial exit from Monheim Germany.
Three-year outlook: mid-single digit revenue growth, high-single digit adj. EBITDA growth, low double-digit adj. EPS growth starting 2026.
Befrena (IL-31 mAb) technical sections complete; administrative review underway; launch expected H1 2026.
Innovation revenue ~$1.1B in 2026; 5-6 blockbuster potential approvals expected 2026-2031.
Elanco Ascend: $200-250M adjusted EBITDA savings by 2030; ~$25M in 2026, ~$60M in 2027.

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