Elanco Animal Health announced that it is now a fully independent company, Feedstuffs reported. The completion of Eli Lilly & Co.’s exchange offer finalizes the journey Elanco began in 2017 when its former parent company first announced the exploration of potential strategic alternatives for the 64-year-old animal health company.

“This is a historic day for everyone at Elanco,” Elanco president and chief executive officer Jeff Simmons said. “It reflects our team’s hard work over the past two years, the confidence that we have the right strategy and are successfully progressing the execution against it. With this milestone behind us, we look forward to a singular focus delivering innovative solutions and services for our customers: the farmers, veterinarians and pet owners that are central to our success. We welcome our new Elanco shareholders who join us and offer our appreciation to our customers and Lilly for the decades of support.”

Livestock News: Elanco Animal Health completes separation from Lilly