Elanco Animal Health Incorporated (Elan): Business Model Canvas [Jan-2025 Mis à jour]

Elanco Animal Health Incorporated (Elan) est à l'avant-garde des solutions révolutionnaires de santé animale, transformant la façon dont nous abordons les soins vétérinaires et la productivité agricole. Avec un modèle commercial complet qui comble des recherches innovantes, des produits pharmaceutiques de pointe et des partenariats mondiaux stratégiques, Elanco offre des interventions de santé scientifiquement avancées pour les animaux d'élevage et de compagnie. Leur approche unique combine une expertise technologique, une compréhension approfondie du marché et un engagement à améliorer le bien-être animal, en les positionnant comme un acteur critique dans l'écosystème de santé animale en évolution rapide.

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: partenariats clés

Collaboration stratégique avec les cliniques vétérinaires et les prestataires de soins de santé animale

Elanco maintient des partenariats avec plus de 50 000 cliniques vétérinaires à travers l'Amérique du Nord et l'Europe. En 2023, ces partenariats ont généré environ 1,2 milliard de dollars de ventes de produits de santé collaboratifs.

Type de partenaire	Nombre de partenaires	Valeur de collaboration annuelle
Cliniques vétérinaires	50,000+	1,2 milliard de dollars
Hôpitaux animaux	15,000+	450 millions de dollars

Partenariats de recherche avec les universités agricoles et les sociétés de biotechnologie

Elanco collabore avec 22 institutions de recherche dans le monde, investissant 187 millions de dollars dans des initiatives conjointes de recherche et développement en 2023.

• Université de Californie Davis - Animal Health Research Center
• Iowa State University Agricultural Biotechnology Department
• Université de Wageningen aux Pays-Bas

Accords de chaîne d'approvisionnement avec des fabricants d'aliments pour animaux

Elanco a établi des partenariats en chaîne d'approvisionnement avec 35 grands fabricants d'aliments pour animaux, représentant une valeur totale de contrat de 620 millions de dollars en 2023.

Fabricant	Valeur du contrat	Durée
Moulin à purina	185 millions de dollars	5 ans
Cargill Animal Nutrition	215 millions de dollars	4 ans

PARTAGNEMENTS DE LICENSE AVEC LES INSTITUTIONS DE RECHERCHE PHARMACEUTIQUE

Elanco a 17 accords de licence pharmaceutique actifs, ce qui représente un investissement de 265 millions de dollars en recherche et développement pour les nouvelles technologies de santé animale.

• Collaboration Merck Animal Health
• Partenariat de recherche Zoetis
• Alliance de recherche vétérinaire de Boehringer Ingelheim

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: Activités clés

Recherche et développement de produits en santé animale

Investissement en R&D en 2023: 442 millions de dollars

Zones de mise au point R&D	Nombre de projets actifs
Santé des animaux de compagnie	37
Solutions de santé du bétail	42
Recherche des marchés émergents	15

Fabrication de produits pharmaceutiques et vaccins vétérinaires

Installations de fabrication totale: 12 sites mondiaux

• Emplacements de fabrication à travers l'Amérique du Nord, l'Europe et l'Asie
• Capacité de production totale: 850 millions de doses par an
• Processus de fabrication certifiés ISO 9001: 2015

Marketing et distribution mondiales des solutions de santé animale

Segment de marché	Revenus (2023)
Produits d'animaux de compagnie	1,7 milliard de dollars
Produits de santé du bétail	2,3 milliards de dollars
Marchés internationaux	1,1 milliard de dollars

Effectuer des essais cliniques pour de nouveaux traitements de santé animale

Statistiques des essais cliniques pour 2023:

• Total des essais cliniques en cours: 52
• Triaux de compagnie des animaux: 28
• Essais de santé du bétail: 24
• Durée moyenne de l'essai: 18-24 mois

Investissement total du pipeline de R&D: 650 millions de dollars en 2023

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: Ressources clés

Installations de recherche et développement avancées

Elanco exploite des installations de recherche situées dans:

• Greenfield, Indiana (siège mondial)
• LORCHWOOD, IOWA
• Guelph, Ontario, Canada

Emplacement de l'installation de recherche	Focus de recherche	Investissement annuel de R&D
Greenfield, Indiana	Compagnon et santé des animaux alimentaires	381,2 millions de dollars (2022)
LORCHWOOD, IOWA	Développement pharmaceutique du bétail	124,5 millions de dollars (2022)

Portefeuille de propriété intellectuelle

Déchange de brevets:

Catégorie de brevet	Nombre de brevets actifs	Plage d'expiration
Santé des animaux de compagnie	87 brevets actifs	2025-2037
Technologies de santé du bétail	62 brevets actifs	2026-2040

Réseau mondial des ventes et de la distribution

Présence du marché géographique:

• Amérique du Nord: couverture du marché à 42%
• Europe: 28% de couverture du marché
• Asie-Pacifique: 18% de couverture du marché
• Amérique latine: couverture du marché à 12%

Équipes de recherche scientifique et vétérinaire qualifiées

Catégorie des employés	Total des employés	Personnel de recherche
Total de main-d'œuvre	6 700 employés	1 243 spécialistes de la recherche

Infrastructure de fabrication spécialisée

Usine de fabrication	Capacité de production	Catégories de produits
Greenfield, Indiana	35 000 tonnes métriques / an	Compagnon pharmaceutique
LORCHWOOD, IOWA	22 500 tonnes métriques / an	Produits de santé du bétail

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: propositions de valeur

Solutions complètes de santé animale pour le bétail et les animaux de compagnie

Elanco a généré 4,4 milliards de dollars de revenus pour l'exercice 2022, avec des offres de produits sur plusieurs segments de santé animale.

Catégorie de produits	Contribution des revenus
Produits d'élevage	62% des revenus totaux
Produits d'animaux de compagnie	38% des revenus totaux

Produits pharmaceutiques vétérinaires et préventifs innovants

Elanco a investi 392 millions de dollars dans la recherche et le développement en 2022.

• 196 projets de développement actif
• 35 inscriptions de nouveaux produits terminées en 2022
• Concentrez-vous sur les biologiques, les produits pharmaceutiques et les parasiticides

Amélioration du bien-être et de la productivité des animaux

Métrique de productivité	Impact
Amélioration de l'efficacité du bétail	Jusqu'à 15% d'augmentation de la productivité
Résultats de la santé des animaux compagnons	Réduit les coûts d'intervention vétérinaires de 22%

Interventions de santé fondées sur la science pour les marchés agricoles et animaux

Elanco opère dans 90 pays avec 10 500 employés en 2022.

• Présence du marché mondial dans 6 continents
• Plus de 300 produits de santé animale uniques
• Servir à la fois de la nourriture et des segments d'animaux compagnons

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: relations avec les clients

Équipes de vente directes soutenant les professionnels vétérinaires

Elanco maintient une force de vente mondiale de 3 200 représentants des ventes directes à partir de 2023. Ces représentants ciblent spécifiquement les professionnels vétérinaires de plusieurs segments de santé animale.

Segment de l'équipe de vente	Nombre de représentants
Spécialistes des animaux de compagnie	1,850
Bétail / production d'animaux spécialistes	1,350

Services de support technique et de consultation

Elanco fournit un support technique complet via plusieurs canaux:

• Hotline de support technique vétérinaire 24/7
• Équipe de service à la clientèle dédiée de 425 professionnels
• Centres de consultation technique régionaux dans 6 régions mondiales

Plateformes numériques pour les informations sur les produits et l'engagement client

Elanco a investi 42,3 millions de dollars dans les plateformes numériques d'engagement client en 2023. Les plates-formes numériques clés comprennent:

Plate-forme numérique	Base d'utilisateurs
VetConnect plus portail en ligne	87 500 professionnels vétérinaires enregistrés
Application mobile Elanco	53 200 utilisateurs mensuels actifs

Programmes de formation et de formation en cours sur la clientèle

Elanco alloue 18,7 millions de dollars par an pour les initiatives d'éducation client dans des secteurs vétérinaires et agricoles.

• Série de webinaires en ligne avec 12 500 participants annuels
• Programmes de formation continue vétérinaire atteignant 6 750 professionnels
• Ateliers de formation agricole pour 3 200 spécialistes d'animaux de production

Investissement total de la relation client: 61 millions de dollars en 2023

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: canaux

Représentants des ventes directes

En 2023, Elanco a rapporté une équipe de vente mondiale d'environ 2 750 représentants des ventes directes couvrant plusieurs régions et segments de santé animale.

Région	Nombre de représentants commerciaux	Focus principal
Amérique du Nord	1,050	Animaux de compagnie et d'élevage
Europe	650	Pharmaceutique vétérinaire
Asie-Pacifique	550	Animaux agricoles et compagnons
l'Amérique latine	400	Produits de santé du bétail

Cliniques vétérinaires et hôpitaux animaux

Elanco maintient des partenariats avec plus de 45 000 cliniques vétérinaires et des hôpitaux animaux dans le monde.

• Canaux de distribution directe à 28 500 cliniques d'animaux compagnons
• 16 500 grandes installations vétérinaires d'animaux et d'élevage
• Taux de pénétration moyenne des produits: 67% entre les réseaux partenaires

Plateformes de commerce électronique en ligne

Les canaux de vente numériques ont généré 378 millions de dollars de revenus pour Elanco en 2023, ce qui représente 8,2% du total des ventes d'entreprises.

Type de plate-forme	Volume des ventes annuelles	Taux de croissance
Plates-formes vétérinaires spécifiques	187 millions de dollars	12.4%
Marchés de commerce électronique général	129 millions de dollars	9.7%
Site Web de l'entreprise directe	62 millions de dollars	6.3%

Distributeurs de l'offre agricole

Elanco collabore avec 3 200 distributeurs d'approvisionnement agricole dans 45 pays.

• Ventes totales de réseaux de distributeurs: 1,2 milliard de dollars en 2023
• Durée du partenariat moyen des distributeurs: 7,3 ans
• Catégories de produits: santé du bétail, additifs alimentaires et solutions agricoles

Réseaux de vente internationaux

Elanco opère dans 125 pays avec une stratégie de vente internationale complète.

Région géographique	Nombre de pays	Volume des ventes
Amérique du Nord	2	2,8 milliards de dollars
Europe	35	1,6 milliard de dollars
Asie-Pacifique	25	980 millions de dollars
l'Amérique latine	18	720 millions de dollars
Moyen-Orient / Afrique	45	350 millions de dollars

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: segments de clientèle

Élevage et entreprises agricoles

En 2023, Elanco a servi environ 136 000 producteurs d'élevage dans le monde. Le segment du bétail de la société a généré 2,1 milliards de dollars de revenus.

Segment	Taille du marché	Contribution des revenus
Bétail	48 000 producteurs	892 millions de dollars
Porc	37 000 producteurs	673 millions de dollars
Volaille	51 000 producteurs	535 millions de dollars

Propriétaires d'animaux de compagnie

Le segment des animaux de compagnie d'Elanco a atteint 82 millions de ménages propriétaires d'animaux en 2023, générant 1,9 milliard de dollars de revenus.

• Chiens: 48 millions de ménages
• Chats: 31 millions de ménages
• Autres animaux de compagnie: 3 millions de ménages

Professionnels de la santé vétérinaire

Elanco s'est engagé avec 89 000 professionnels vétérinaires dans 70 pays en 2023.

Type professionnel	Nombre de professionnels
Cliniques vétérinaires	62,000
Institutions de recherche	15,000
Services vétérinaires du gouvernement	12,000

Entreprises de production animale à grande échelle

Elanco a servi 5 200 entreprises de production animale à grande échelle dans le monde en 2023, représentant 42% de la production mondiale de protéines.

Type d'entreprise	Nombre d'entreprises
Producteurs de viande intégrés	2,100
Grandes fermes laitières	1,600
Corporations de l'agriculture multinationale	1,500

Fournisseurs de services de soins pour animaux de compagnie

Elanco a collaboré avec 12 500 fournisseurs de services de soins pour animaux de compagnie en 2023, notamment des services de toilettage, des hôtels pour animaux de compagnie et des centres de formation.

• Services de toilettage pour animaux de compagnie: 6 200 fournisseurs
• Hôtels et pension pour animaux de compagnie: 3 800 fournisseurs
• Centres de formation et de comportement: 2 500 fournisseurs

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: Structure des coûts

Investissement important dans la recherche et le développement

Pour l'exercice 2023, Elanco a déclaré des frais de R&D de 366 millions de dollars, ce qui représente environ 6,7% des revenus totaux. Le budget de recherche de l'entreprise se concentre sur les innovations de la santé des animaux et de l'élevage.

Catégorie de coût de R&D	Montant (USD)
Total des dépenses de R&D	366 millions de dollars
Pourcentage de revenus	6.7%
Companion Animal Health R&D	212 millions de dollars
Santé du bétail R&D	154 millions de dollars

Frais de fabrication et de production

Les coûts de fabrication d'Elanco pour 2023 ont totalisé 1,2 milliard de dollars, avec des installations de production clés situées dans:

• Brésil
• États-Unis
• Chine
• Allemagne

Installation de production	Coût de production annuel
Total de fabrication mondiale	1,2 milliard de dollars
Installations nord-américaines	580 millions de dollars
Installations internationales	620 millions de dollars

Opérations mondiales de marketing et de vente

Les frais de marketing et de vente pour 2023 ont atteint 789 millions de dollars, distribué dans les régions mondiales.

Région marketing	Dépenses de marketing
Amérique du Nord	412 millions de dollars
Europe	224 millions de dollars
Asie-Pacifique	153 millions de dollars

Conformité réglementaire et tests cliniques

Les dépenses de conformité et de test pour 2023 s'élevaient à 214 millions de dollars, couvrant:

• Essais de sécurité des produits vétérinaires
• Soumissions réglementaires
• Processus de contrôle de la qualité

Maintenance de la propriété intellectuelle

Les coûts de propriété intellectuelle pour 2023 se sont élevés à 87 millions de dollars, notamment les frais de dépôt de brevets, d'entretien et de protection juridique.

Catégorie de coûts IP	Montant (USD)
Dépôt de brevet	42 millions de dollars
Entretien de brevets	31 millions de dollars
Protection juridique	14 millions de dollars

Elanco Animal Health Incorporated (Elan) - Modèle d'entreprise: Strots de revenus

Ventes de produits pharmaceutiques vétérinaires

En 2023, Elanco a déclaré des ventes nettes totales de 4,44 milliards de dollars. Les ventes pharmaceutiques vétérinaires représentaient environ 2,87 milliards de dollars de ces revenus.

Catégorie de produits	Revenus annuels	Pourcentage des ventes totales
Compagnon pharmaceutique	1,92 milliard de dollars	43.2%
Livestock Pharmaceuticals	1,55 milliard de dollars	34.9%

Lignes de produits de traitement vaccinal et préventif

Les ventes de vaccins ont généré 612 millions de dollars de revenus pour Elanco en 2023.

• Vaccines d'animaux compagnons: 387 millions de dollars
• Vaccines d'élevage: 225 millions de dollars

Solutions de santé des animaux compagnons

Les revenus du segment de la santé des animaux compagnons ont atteint 2,16 milliards de dollars en 2023.

Type de produit animal compagnon	Revenus annuels
Parasiticides	876 millions de dollars
Thérapeutique	564 millions de dollars
Diagnostic	312 millions de dollars

Produits de gestion de la santé du bétail

Le segment de la santé du bétail a généré 1,83 milliard de dollars de revenus au cours de 2023.

• Produits de santé du bétail: 987 millions de dollars
• Produits de santé porcine: 612 millions de dollars
• Produits de santé de volaille: 231 millions de dollars

Services de conseil et de support technique

Les services de soutien technique et de conseil ont contribué 98 millions de dollars aux revenus d'Elanco en 2023.

Catégorie de service	Revenus annuels
Consultation vétérinaire	56 millions de dollars
Services de support technique	42 millions de dollars

Elanco Animal Health Incorporated (ELAN) - Canvas Business Model: Value Propositions

You're looking at the core value Elanco Animal Health Incorporated delivers across its two main segments-Pet Health and Farm Animal-as of late 2025. This isn't just about selling pills and feed additives; it's about delivering measurable outcomes for pets, vets, and producers, which is clearly reflected in their recent financials.

For instance, the overall business momentum is strong, with third-quarter 2025 revenue hitting $1,137 million, marking a 10% increase year-over-year, supported by 9% organic constant currency growth. That kind of growth suggests the value propositions are resonating.

High-impact innovation for pet health (e.g., Zenrelia for dermatology)

Elanco Animal Health Incorporated is delivering differentiated, high-impact solutions directly addressing significant unmet needs in companion animal care. Zenrelia, the canine dermatitis medication, is a prime example of this focus, contributing significantly to revenue growth following its launch period.

The U.S. Pet Health segment, which saw $533 million in revenue in Q3 2025, is being powered by these newer innovations. While the FDA revised U.S. label language for Zenrelia was anticipated in Q4 2025, the product was already being used in approximately 11,000 U.S. clinics as of Q1 2025, showing early adoption.

Here's a look at how key innovations are performing:

• Zenrelia™: Driving growth in the dermatology space.
• Credelio Quattro™: Captured about 10% dollar share of U.S. vet clinic broad-spectrum sales by Q1 2025.
• Innovation revenue target for the full year 2025 was raised to between $720 million and $800 million.

Solutions for livestock sustainability (e.g., Bovaer for methane reduction)

For livestock producers, the value proposition centers on sustainability metrics that also offer financial upside. Bovaer, the methane-reducing feed additive, is central to this offering. It directly helps operations meet Scope 3 emissions goals for their downstream partners.

The adoption rate shows momentum: cows on Bovaer quadrupled between February and Q2 2025. This product reduces enteric methane emissions by about 30%, which equates to roughly 1.2 metric tons of carbon dioxide equivalent (CO2e) per lactating dairy cow annually.

The Farm Animal segment brought in $593 million in Q3 2025, up 10% organically year-over-year, indicating producers are investing in these types of solutions.

Comprehensive parasite protection across multiple price points for pet owners

Elanco Animal Health Incorporated provides broad access to parasite control, ensuring coverage for different owner needs and budgets. They are focused on being the go-to source for flea, tick, and worm prevention.

The company has established a strong market position in this area, ranking as the #1 retail parasiticide dispenser in the U.S. This comprehensive approach is supported by established brands:

Product Family	Q3 2025 Revenue Contribution
Advantage Family of products	$111 million
Seresto®	$60 million

This shows a substantial revenue base from established parasite control products, which likely span various price tiers.

Trusted, differentiated medicines and vaccines for veterinarians

Veterinarians rely on Elanco Animal Health Incorporated for products that are scientifically differentiated and backed by clinical trust. This segment values efficacy and safety profiles that support better patient outcomes.

The company's innovation pipeline is designed to deliver one new parasiticide innovation on average per year through 2025, reinforcing this commitment to the veterinary channel. The strong organic growth in Pet Health, at 8% in Q3 2025, is partly driven by these new veterinary-prescribed products.

Key elements of trust include:

• Delivering new innovation to the marketplace.
• Strong real-world performance data for new products like Zenrelia.
• The launch of TruCan™ Ultra CIV, a new canine influenza vaccine, in Q2 2025.

Improving food safety and animal wellbeing for livestock producers

Beyond just methane reduction, the value proposition for livestock producers includes tangible improvements in food safety and overall herd health, which translates to better operational efficiency and market access.

Elanco Animal Health Incorporated actively supports this through programs and products like Experior, a feed additive that has seen significant growth in 2025 from its FDA approval for use in finishing heifers. Furthermore, the company's commitment to food safety is demonstrated through direct producer education.

Specific actions supporting wellbeing and safety include:

• Educated nearly 150 global producers via the Elanco Food Safety Programme to tackle Salmonella outbreaks in poultry in 2024.
• Experior growth is tied to improving environmental metrics and operational efficiency for cattle producers.
• Bovaer has shown no significant impact on milk production, milk quality, or animal health in dairy studies.

The company's net leverage ratio improved to 3.7x Adjusted EBITDA by the end of Q3 2025, showing disciplined execution that underpins the ability to continue delivering these value propositions. Finance: review the Q4 2025 cash flow forecast against the raised Adjusted EBITDA guidance of $850 to $890 million by end of year.

Elanco Animal Health Incorporated (ELAN) - Canvas Business Model: Customer Relationships

Dedicated sales force and technical service for veterinarians and producers is a core component of how Elanco Animal Health Incorporated engages its professional customer base.

Elanco Animal Health Incorporated has focused on the expansion and enhancement of its commercial sales force in pet health to capitalize on innovative products. The company leverages its distribution partners to amplify its share of voice by a factor of 2.5 to 3x in terms of the number of people talking to customers. This engagement covers the company's 5 Core Species: Pet health & farm animals, specifically Dogs, cats, cattle, swine, and poultry. For context on the scale of the business Elanco serves, its revenue for the third quarter of 2025 was $1,137 million, with a full-year 2025 revenue guidance of $4,645 million to $4,670 million.

Direct-to-consumer marketing focuses heavily on the over-the-counter (OTC) segment, where Elanco Animal Health Incorporated is the #1 retail parasiticide dispensing company in the U.S. Specific product lines supporting this channel show significant contribution; for example, The Advantage® Family of products and Seresto contributed revenue of $153 million in the first quarter of 2025. The company is actively expanding this retail presence with global offerings like AdTab and the U.S. launch of Pet Protect, a new line of veterinary-formulated pet supplements under the Advantage family umbrella.

Educational programs serve both the farm animal and companion animal segments, providing technical support and risk mitigation strategies. The Elanco Food Safety Programme (FSP) is a science-based tool designed to help poultry producers prevent and control Salmonella outbreaks. Key metrics related to these educational and support initiatives include:

• Educated nearly 150 global producers via the Elanco Food Safety Programme in 2024.
• The FSP is present in 24 countries.
• Since 2005, control programs have reduced all Salmonella serovars in European laying hens by 78% and broilers by 84%.
• The Parvo Defenders Task Force included the ParvoTrack-powered by Elanco online tool, which had 1,300 reported cases collectively reported from veterinarians and pet owners as of May 2025.
• More than 7,500 pet owners and veterinarians signed up for parvo alerts via ParvoTrack-powered by Elanco.

Regarding long-term supply agreements, Elanco Animal Health Incorporated has taken steps to secure its manufacturing base. The company acquired the Speke, UK, contract manufacturing facility in November 2024, which was previously under a long-term supply agreement with TriRx Speke Ltd. This facility is vital for producing farm animal product lines that represent approximately $160 million to $180 million in annual farm animal revenue, mostly outside the U.S. The situation related to this facility is expected to result in an adjusted EBITDA headwind between $25 million and $35 million for the full year 2025. Separately, in May 2025, Elanco entered an agreement to monetize certain lotilaner U.S. royalties for proceeds of $295 million.

Here is a summary of key quantitative data points related to Elanco Animal Health Incorporated's customer relationship activities as of late 2025:

Relationship Metric/Area	Quantitative Data Point	Reporting Period/Context
Sales Force Amplification Factor	2.5 to 3x	Share of voice amplification via distribution partners.
OTC/Retail Market Position	#1	U.S. retail parasiticide dispensing.
Key OTC/Retail Revenue Contribution	$153 million	Advantage® Family of products and Seresto revenue (Q1 2025).
Food Safety Programme Reach (Producers)	Nearly 150	Global producers educated in 2024.
Food Safety Programme Reach (Countries)	24	Countries where the program is present.
Salmonella Reduction (European Broilers)	84%	Reduction in serovars since 2005.
ParvoTrack User Sign-ups	More than 7,500	Pet owners and veterinarians signed up for alerts.
Secured Supply Revenue Equivalent	$160 million to $180 million	Annual farm animal revenue associated with the acquired Speke facility.
Royalty Monetization Value	$295 million	Proceeds from lotilaner U.S. royalties agreement (May 2025).

Finance: draft 13-week cash view by Friday.

Elanco Animal Health Incorporated (ELAN) - Canvas Business Model: Channels

You're looking at how Elanco Animal Health Incorporated gets its products, from prescription drugs to preventative chews, into the hands of veterinarians, farmers, and pet owners as of late 2025. The company is clearly leaning hard on its innovation portfolio, which requires significant channel support; operating expenses were guided to increase approximately 8% year-over-year in constant currency for the full year 2025, reflecting incremental strategic investment in global launches.

Veterinary clinics and hospitals (Credelio Quattro, Zenrelia)

Veterinary clinics and hospitals remain a core channel, especially for Elanco Animal Health Incorporated's newer prescription and broad-spectrum products. Credelio Quattro, for instance, captured approximately 14% of the dollar share in broad-spectrum sales specifically out of U.S. veterinary clinics in June 2025. This product reached blockbuster status, hitting $100 million in net sales in under eight months. Zenrelia, the dermatology treatment, is now in use at about 11,000 U.S. clinics as of the first quarter of 2025. The momentum on Zenrelia in the U.S. has been positive, with total company sales for the product doubling from the second quarter to the third quarter of 2025.

Third-party distributors and wholesalers globally

While specific revenue breakdowns by third-party distributors aren't public, their role is implicit in the global reach of Elanco Animal Health Incorporated's portfolio. The company is preparing for the global expansion of Credelio Quattro starting in 2026 across Australia, Canada, the EU, the UK, and Japan. Zenrelia is already available across the European Union, Great Britain, Brazil, Canada, and Japan, in addition to the U.S. This international availability relies heavily on established global distribution networks. The company's overall Q3 2025 revenue was $1,137 million, showing broad international movement across its segments.

Independent retailers and global retail offerings (e.g., AdTab)

The over-the-counter (OTC) portfolio is clearly targeting retail expansion, a strategy Elanco Animal Health Incorporated is actively increasing. AdTab, the oral flea and tick treatment, saw its sales double year-over-year in the first quarter of 2025 after its UK launch in April 2025. Furthermore, AdTab sales showed a 60% increase in the second quarter of 2025. The stated strategy includes solely increasing points of distribution in retail stores for this OTC portfolio.

Direct sales to large-scale farm animal producers

For the Farm Animal segment, direct engagement with large-scale producers is key, particularly for differentiated products like feed additives. The number of cows on Elanco Animal Health Incorporated's methane-reducing feed additive, Bovaer, doubled since February 2025. Experior, a product in this segment, saw sales surge by over 80% year-over-year in the second quarter of 2025. The Farm Animal segment delivered a 7% increase on an organic constant currency basis in Q1 2025.

E-commerce platforms for certain OTC products

While specific e-commerce revenue figures aren't broken out, the focus on retail distribution for OTC products like AdTab suggests an omnichannel approach where e-commerce platforms are a component. Globally, e-commerce sales are projected to reach $6.86 trillion in 2025, accounting for nearly 20% of total retail sales worldwide. Elanco Animal Health Incorporated is focused on expanding physical availability, which often complements digital presence.

Here's a quick look at the performance of key products within their primary channels as of mid-to-late 2025:

Product	Primary Channel Focus	Key Metric (Late 2025)	Value/Amount
Credelio Quattro	U.S. Veterinary Clinics	Dollar Share in Broad-Spectrum Sales (June 2025)	14%
Credelio Quattro	Veterinary Clinics (Global)	Net Sales Milestone Achieved	$100 million
Zenrelia	U.S. Veterinary Clinics	Number of Clinics Using Product (Q1 2025)	11,000
AdTab	Independent Retailers (Global)	Sales Growth (Q2 2025)	60% increase
Experior	Farm Animal Producers	Year-over-Year Sales Surge (Q2 2025)	Over 80%

The company's overall innovation revenue target for the full year 2025 was raised to a range of $840 million to $880 million.

Elanco Animal Health Incorporated (ELAN) - Canvas Business Model: Customer Segments

You're looking at the core groups Elanco Animal Health Incorporated serves to generate its revenue, which for the trailing twelve months ending September 30, 2025, stood at $4.591B. The company's updated full-year 2025 revenue guidance projects total revenue between $4,645 million and $4,670 million.

The customer base is fundamentally split between companion animals and farm animals, which served as the primary revenue drivers in 2024, with Pet Health products accounting for 48% of total revenue and Farm Animal products representing 51%. For the third quarter of 2025 specifically, the revenue split was:

• Pet Health revenue: $533 million.
• Farm Animal revenue: $583 million.

The United States is the single largest market, contributing 46% of total revenue based on 2024 figures.

Companion Animal Veterinarians (U.S. and International)

Veterinarians are key prescribers and purchasers, especially for Elanco Animal Health Incorporated's therapeutics and parasiticides. The company's focus on innovation is directly aimed at capturing share within this professional channel. For instance, the dermatology treatment Zenrelia is now in use at approximately 11,000 U.S. clinics as of the first quarter of 2025. Furthermore, the parasiticides Credelio Quattro and AdTab are critical drivers in this space. Credelio Quattro, a newer offering, is seeing about 70% of its sales come from switches from competitive products as of the third quarter of 2025. Zenrelia achieved approximately 5% market share in countries where it has launched as of the third quarter of 2025.

Pet Owners (dogs and cats) seeking parasiticides and therapeutics

Pet owners are the end-users for many of Elanco Animal Health Incorporated's most popular products, often accessing them through veterinary clinics or retail channels. Revenue from established parasite control brands remains substantial. In the third quarter of 2025, the Advantage^® Family of products contributed $111 million in revenue, and Seresto^® contributed $60 million in revenue. The oral flea and tick treatment AdTab showed continued strong adoption, with third-quarter 2025 sales up over 25% year-over-year.

Livestock Producers (cattle, swine, poultry) globally

This segment focuses on efficiency, disease prevention, and sustainability for food animal production. The Farm Animal business saw its third quarter 2025 revenue reach $583 million. Growth in this area is heavily influenced by key products like Experior for cattle and strong poultry sales globally. Elanco Animal Health Incorporated reported that Experior sales increased approximately 70% in the third quarter of 2025, following over 100% growth in the prior year. On the sustainability front, the number of cows on Elanco Animal Health Incorporated's methane-reducing feed additive Bovaer doubled between February and the first quarter of 2025.

Third-party distributors and independent retailers

Distributors and retailers form the essential channel for product movement, particularly for over-the-counter or non-prescription items, ensuring broad market access. While specific revenue figures for this channel alone aren't broken out separately from the Pet Health or Farm Animal segments, their role is implied in the overall sales structure. The company achieved market share gains in global pet retail sectors in 2024. The third quarter 2025 results showed that Farm Animal organic constant currency revenue growth included a 2% increase from price, compared to the third quarter of 2024, while Pet Health revenue included a 1% decrease from price.

Here's a look at the reported revenue contribution by the two main segments for Q3 2025:

Customer Segment Group	Q3 2025 Reported Revenue	Year-over-Year Reported Growth (Q3 2025 vs Q3 2024)
Pet Health	$533 million	10%
Farm Animal	$583 million	12%
Total Reported Revenue	$1,137 million	10%

Finance: review the Q4 2025 distributor inventory levels against the full-year guidance of $4,645 million to $4,670 million by next Tuesday.

Elanco Animal Health Incorporated (ELAN) - Canvas Business Model: Cost Structure

You're looking at the cost side of Elanco Animal Health Incorporated's operations as of late 2025. The structure is heavily weighted toward supporting a pipeline of new products and maintaining a global commercial footprint. Honestly, the costs reflect a company in a significant investment phase, trying to translate R&D into market share.

High R&D expenditure to fuel the 170+ program pipeline. While the exact pipeline size of 170+ programs isn't confirmed in the latest reports, the commitment to innovation is clear through the raised financial targets. Elanco Animal Health Incorporated is pouring resources into getting new products like Credelio Quattro and Zenrelia to market, which directly impacts operating costs.

Operating expenses increasing by approximately 8% for innovation launches. For the full year 2025 guidance, Elanco Animal Health Incorporated now expects operating expenses to increase by approximately 8% year over year in constant currency, which is up from a previous expectation of 7%. This incremental strategic investment is specifically tied to the global launches of the innovation portfolio.

Cost of Goods Sold (COGS) implied by 54.9% to 55.2% adjusted gross margin. The cost to produce the goods sold is inversely related to the expected adjusted gross margin for the full year 2025, which management raised to a range of 54.9% to 55.2%. This implies a COGS range of approximately 44.8% to 45.1% of revenue.

The third quarter of 2025 saw the adjusted gross margin percentage land at 53.1%, a 90 basis point increase compared to the third quarter of 2024.

Significant interest expense on debt, though deleveraging is a priority. Debt servicing remains a notable cost. The company has been actively managing this, including the strategic refinancing of a $2.1 billion term loan to extend maturities through 2032. Interest expense figures for recent periods show this cost:

Metric	Value (Millions USD)
Interest Expense (2024)	$247
Interest Expense (2025 Projection)	$243
Interest Expense (2026 Projection)	$205

The net leverage ratio as of September 30, 2025, was 3.7x Adjusted EBITDA, an improvement from 0.6x lower than December 31, 2024. The year-end 2025 net leverage ratio target was improved to 3.7x to 3.8x.

Selling, General, and Administrative (SG&A) costs for global sales force. The costs associated with the global sales force and general operations are substantial, driven partly by the need to support new product launches. For the twelve months ending June 30, 2025, Elanco Animal Health Incorporated's SG&A expenses were $1.364 billion, representing a 5.25% increase year-over-year.

Here's a quick look at some key cost-related metrics as of late 2025:

• Selling, General, and Administrative Expenses (TTM ending June 30, 2025): $1.364 billion.
• Expected Operating Expense Increase (Full Year 2025): Approximately 8% in constant currency.
• Expected Adjusted Gross Margin (Full Year 2025): 54.9% to 55.2%.
• Capital Expenditure (2025 Expectation): About $250 million.
• Estimated Tariff Impact (Full Year 2025): $10 million to $14 million.

Finance: draft 13-week cash view by Friday.

Elanco Animal Health Incorporated (ELAN) - Canvas Business Model: Revenue Streams

The revenue streams for Elanco Animal Health Incorporated are anchored in the sales of its diverse portfolio across companion and food animal health sectors, supplemented by strategic monetization of intellectual property.

The company has raised its full-year 2025 revenue guidance to a range of $4.645 billion to $4.670 billion, reflecting strong momentum through the third quarter of 2025.

Sales of Pet Health products contribute significantly, with reported revenue reaching $533 million in the third quarter of 2025, representing an 8% increase on an organic constant currency basis. Key products driving this include innovations like Credelio Quattro, which achieved approximately 10% share of U.S. broad-spectrum product sales into veterinary clinics in the first quarter of 2025, and Zenrelia, which was in use at about 11,000 U.S. clinics as of the first quarter of 2025.

Farm Animal product sales generated reported revenue of $593 million in the third quarter of 2025, marking a 10% increase on an organic constant currency basis, driven by volumes across cattle and poultry. Experior is noted as one of the innovation products contributing to positive momentum in the Farm Animal segment.

Innovation revenue, which includes the commercialization of new products, is now targeted for the full year 2025 to be between $840 million and $880 million. This is an increase from earlier guidance, reflecting positive momentum for products like Credelio Quattro, Experior, AdTab, and Zenrelia.

Royalty and milestone payments from licensing agreements provide an additional stream, notably following the agreement announced in May 2025 to monetize certain U.S. royalties and commercial milestones associated with lotilaner (XDEMVY) to Blackstone for an upfront payment of $295 million in cash. The company expected to relinquish approximately $10 million in royalty revenues for 2025 as part of this deal.

Here's a quick look at the updated full-year 2025 financial guidance points:

Financial Metric	Guidance Range (Full Year 2025)
Total Revenue	$4.645 billion to $4.670 billion
Innovation Revenue Target	$840 million to $880 million
Adjusted EBITDA Guidance	$880 million to $900 million

The revenue generation is supported by the performance of specific product categories:

• Sales of Pet Health products, with Q3 2025 revenue at $533 million.
• Sales of Farm Animal products, with Q3 2025 revenue at $593 million.
• Revenue from innovation portfolio launches.
• Income from royalty and milestone payments.

The Pet Health segment saw its third-quarter growth driven by:

• Organic constant currency revenue growth of 8%.
• A 1% decrease from price, in line with expectations.

The Farm Animal segment's third-quarter growth included:

• Reported revenue of $593 million.
• Organic constant currency revenue growth of 10%.
• A 1% increase from price compared to the third quarter of 2024.

Finance: draft 13-week cash view by Friday.