Thanks, everyone. morning, Jim. Good
quarter public as Elanco's company. This marks quarter fifth a
execution elements and expectations pleased are to delivering productivity We our of portfolio strategy. to on show and we're innovation continued all our
with begin the Let's highlights on Slide X.
in We of three time pivotal this structure Elanco's have in importance governance the outlined streamed history. our
independent our closing executing focused; Bayer future, We are majority and dedicated up Elanco which vast have lastly, the and acquisition. on results standing strategy where of now secondly, and the focused Elanco, running into our is on; delivering integrating and the teams operations; employees
stream. in purpose with urgency We are each moving and
three our the show categories. fundamentals, underlying targeted demand of products our double-digit the First, our our the growth solid in top-line and results highlighted by strength for
enabled X% at portfolio Our us currency. core to deliver growth constant revenue approach
deliver, margin also XX.X%. efforts continue to adjusted gross basis with to in increase XXX our productivity a Our point
and the establishing In fit-for-purpose another company this we Second, took on building standalone in and action QX, restructuring need. capabilities we're a reduction a headcount. we announcing front
Service the Lilly month. including continue also of to HR exit Transition workday We our Agreements this System with go-live
after Bayer to integration moved monthly Animal XXth, an of management to have experienced August regulatory define Bayer's we quickly the planned team process senior activities the establish and bodies. announcing Third, Health, integration and with our acquisition on with quarterly launched
initial meetings the face-to-face We European the had and have Commission. FTC with
clearance. We’re engaged competition all the where to with jurisdictions regulators we're in required obtain
the a working in and Our points key teams regulators. on advisors are few the with along with Bayer expeditiously I'll call collaboratively acquisition. external reiterate Later the
are the priorities. majority Importantly, the our of teams Elanco in And results. the Meanwhile, you commitments. and vast on results can employees integration standup our on executing of business and the our in see third established quarter focus focused delivering we have this on right running our
standup efforts, a industry. For organization appropriate we've infrastructure our design we're for our fit-for-purpose and established efficient building an
For the well developed having Bayer the over acquisitions decade. capabilities past integrated XX integration, have we
events move to call of earnings and strategy. X three since across pillars key our our share the Let's Slide some the of last
launching external on internal complementing pipeline with internal excellence, our opportunities. built pipeline First, It's with progressing our innovation strategy. our and
Our Group represented The mode growth, new to fuel launch our of products total sales. our increasing XX% XX% in continue year-over-year.
the This Entyce VetDC. Aratana sales quarter Nocita from with agreement of and our we've added from and the commercial acquisition Tanovea
on trajectory growth the Slide see can products currency of these You in XX. constant
antibiotic, option the will ever to novel is innovation no that are safe Since In late-stage approach be Ab antibiotics we there chickens or for product and attractive development advancing, a including poultry enteritis. robust internal development announced first-in-class an XXXX, to the NAE a solution have Discovery a GRAS necrotic for an January from coccidiosis approach, a we today We're this producers protecting and for necrotic implemented relevant an that the not chicken expect advance major coccidiosis in a approval for where collaboration E pipeline piloting a of a and happy Our received projects is not with approach. generally producers. producer. as and that and uses sustainable enteritis. NAE are XX% U.S. solution there Recall of part share is now NAE regarded have of production all in states program this U.S. U.S. achieved the as key safe we with poultry and
to our be form XXXX. of our in working pursuit program early for is Elanco the This on will an on will antibiotics. formulation pelleted to alternatives available a focus key, of producers' significant feed a This problems are We while launch and XXXX. customers liquid be example in most innovation
years. the this about with recently average and excited review state the program, of the a We're of flow I'm innovation our we three specific innovative with pleased pipeline. our both next portfolio continue of the advancement five completed Beyond to year launches and on over semi-annual per deliver goal product
of invest to initiatives. launched products well availability the brand protection opportunities expand on brand recently focused and to in continue building lifecycle global We as as
on R&D We've we're we've with also In Prevtec. and our and capabilities. programs operating Aratana fully no short, maintaining R&D investment dependencies levels, the establishing speed Elanco standalone increased platform while of integrated the own on from value pipeline and And R&D execution. the Lilly for
about double-digit XX% categories our portfolio, and delivered our now targeted of total sales. the on represent Now, growth growth
I'll and momentarily. is performance commentary approach portfolio provide the working more about Our
margin pillar, we QX. throughout in third our productivity. agenda productivity a the progress to The of continued made improvement company. our comprehensive in Turning is reflection further And our gross
team health our continually organization our fit-for-purpose chain. Our assessing Board and identify to across and opportunities management to value animal execute our are structure advance
XXX of enhance of efficiency. expect we at part approximately September, end positions the productivity reduce to to As drive the and we announced restructuring
and we're exiting certain and sites. streamlining R&D manufacturing Specifically,
in structure investment other increase functions and centralizing announcement and is they marketing communicated with action consolidating agencies We’re serve. with the of expansion management our align the areas margin better business. us functions. adjusting aligned goals. the we're This risk to enables And of regulatory previously also This to
growth increase while Even our expansion agenda. on the we agenda preparing of operations. this, margin Bayer productivity and like to drive for continue we efforts will Through and our integration, our freedom degrees optimize our
creating Poland that is Warsaw, Kuala in a Elanco. centers Lumpur, structure Malaysia, service shared and office opened have fit for back We
our Center The capabilities Additionally, company of Innovation capacity support we areas. remain and a and providing our in business Alliance India, and number TSA key in stand-up of independent track. opened Bangalore, on exits
now go-live to System significant in November, activities judgment personnel-only. With our staff. journey, the data providing and all our of Lilly in primarily HR representing we've migrated system based step related substantially now support Elanco is a
costs out many of agenda increasing our while expectations, our Lilly. we to Overall, progress is cases continues our productivity as delivering transition above and and all lowering in overall too, our and speed
in factors look Ruminants Now, play. in on a & our performance as has reflects a products & I’ll at for that continued discussed that X. let's sales manufacturer we Ruminants of new Slide number certain performance take of start contract had and category Swine external Swine African Overall impact at Swine the our events. injectable the some from Fever, with disruption category QX, supply
note them. Let me
prices significant China trade have and have swine have opportunity become a ASF, producers. awake soared of more U.S. in As negotiations for exports progressed,
is impacts to products moving away product many the which less of As globally swine than market. sales. to access enable ractopamine total our are X% our farmers a China Paylean, This from result,
and a restrictions. as customers is that another transitioning product that Skycis lead market product we different not We we our have of expect swine Paylean. an attractive the alternative swine to in does see action that provides called trade Skycis portfolio, alternative mode since this to believe Skycis Paylean Within our producers have has that the down with XXXX. to
was Rumensin of version approved generic a Second, in QX.
pleased with we Importantly, strong user for brand see we demand. durability are the and end among our customers loyalty Rumensin very and
from As in to we portfolio the distribution channel, assess value we In we summary, very things expected, confident our players, other generics. our product differentiates particularly customers seen that the the purchasing some tracking they value changes of Rumensin, in expectations as environment. the offer remain cattle we’ve beyond to are Important and with know, Rumensin. in the Elanco
XXXX, to the a throughout has been headwind third, And in drought the industry. Australia
impacting items the & other Ruminants this in started has Swine the category, results. to With show-through headwind
been will or improve Asia increase are the of transient for positive industry husbandry for over practices, for positive planning and that the run ASF of issues sophistication likely of practices are that in all known Elanco. All case and the these long resolve. farming will of this these we've In animal events
Very appropriately incorporating are are We the market match fundamentals market updated year. the of of underlying guidance in these strong uncontrollable importantly, environmental our shares with our execution these key products the our the for products face demand factors Furthermore, and into our the pressures. for our of business, expectations. our
Future and the Companion & Prevention basis, pleased targeted in within show quarter. Animal Companion On results all growth the Disease Meanwhile, which double-digit growth XX%, categories grew Health grew our grew a Therapeutics constant XX% currency in Animal XX%. we're Protein
a will provide by expected business in commentary Todd from animal bolstered was moment. to had companion new we customer QX Our purchase growth QX. close that sales in a in our a on additional
Let pause and our approach and outlook. our our discuss me towards industry
innovation able to exchange. of quarter across including channels a Throughout industry to grow challenges, classes these this as ones our to may foreign our to approach organically multiple a species, to our diversify Despite greatest be therapeutic to best-in-class This This needs the it geographies, importance headwinds we've and variables wherever perfect having reinforces flexible multiple been is found. bring both to sales described solutions the bring we inorganically. in I customers’ example and and portfolio. and as be our year of well faced just business
team am for and confidence approach variables. confidence and our temporary of nature these importantly more of give the with across our future. the Adding our of results, grade world to the I my durability me pleased is the resiliency the
acute items the and less we expect supply with will next head and be will of of the have to with We're be herd products mitigated Skycis. in such from is as growth We production. material with benefits return advances these reductions time, headwind severe to of already our China in Asia into temper And growth of the The secondly be seen our ASF resolving. is as XXXX. and Vietnam year. year. swine, on manufacturer to quantifiable, to that swine disruption Over projections, The other there impact have repopulation overall contract not impact Paylean we our next expecting will in
nature industry. our the is of This
strategy, right deliver navigate and long-term. the such events the focus have We continuing while to people for to products,
Todd results to QX more call to financial I’ll the over color Now, and XXXX. our on guidance provide for turn
