Elanco Animal Health: Innovation-Led Portfolio Expansion Fueling Our ‘Buy’ Rating! 

Elanco Animal Health’s third-quarter 2024 performance presents a mix of achievements and challenges that form the basis of an investment perspective. The company reported a modest 1% organic constant currency revenue growth, driven by contributions from new products like Experior, Adtab, Credelio Plus, and Zenrelia. This quarter marked the fifth consecutive one that Elanco has demonstrated growth in its underlying business. While these figures provide some optimism, the overall reported revenue declined by 4%, primarily due to the divestiture of its aqua business and unfavorable foreign exchange rates.