Elanco announces layoff of 250 workers

Elanco Animal Health Inc. , which went public a year ago, on Monday said it plans to lay off 250 workers to save $12 million in 2020. The Greenfield, Ind.-based company previously announced job cuts and a $37 million restructuring charge in December 2018. In February, Eli Lilly & Co. said it would divest its remaining stake in Elanco via an exchange offer. Elanco shares are down 16% this year. The S&P 500 index has gained 19% this year.

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