Elanco responds to Ancora board nominations

Elanco Animal Health issued a statement in response to the submission of four nominees to the company’s board of directors by Ancora Holdings, stating in part: “The execution of Elanco’s Innovation, Portfolio and Productivity strategy, led by CEO Jeff Simmons, is working. Elanco has returned to growth and is progressing a robust and innovative pipeline that will generate further growth. Elanco’s commitment to the continued development of a strong and sustainable innovation pipeline is a multi-year process which is key to the company’s future success. Importantly, shareholders have been rewarded. Elanco stock is up 39% over the past year, reaching a 52-week high earlier this week and significantly outperforming its peers… Elanco has taken decisive actions to improve performance. Leadership has strengthened the Company’s focus through the sale of the aqua business, which will also enable Elanco to reduce leverage, and has announced a resource restructuring to shift investments into more significant value creation areas. Elanco has also taken action to meaningfully enhance our corporate governance and shareholder rights. The leadership team is concentrated on minimizing any distractions and executing actions that we believe are in the best interest of all shareholders.”