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Fly News Breaks for September 9, 2019
ELAN
Sep 9, 2019 | 04:57 EDT
Goldman Sachs analyst Nathan Rich started Elanco at Not Rated amid the company's intentions to acquire Bayer's Animal Health business. The analyst sees Elanco's margin upside as "muted" due to rising competition on its key products. Rich initiated coverage of the Animal Health industry and recommends a selective approach. The positive long-term fundamental drivers of the industry, particularly in the companion animal space, appear increasingly reflected in valuations, the analyst tells investors in a research note.
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