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Monday’s rainfall is most Indy has seen in two months

INDIANAPOLIS (WISH) — Monday’s storm brought beneficial rain to most of central Indiana.

Officially Indianapolis picked up 1.01″ of rain Monday which is the most rainfall in 24 hours in almost two months. The last time Indy saw more than an inch of rain was 1.27″ on August 26 and 27.

So far during the month of October it has rained only seven days. Three of those days only bringing a trace of rain in the gauge.

Despite the significant rain Monday the month of October is still below normal for precipitation. Indianapolis is a little more than a half inch below normal while Muncie and Lafayette are more than an inch below normal.

Much of southern Indiana is under a moderate drought while areas in Indianapolis is under abnormally dry conditions.

More rain is expected this weekend which will help boost totals up a little more closer to normal conditions.

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Elanco closes out first full year of independence

GREENFIELD, Ind. (Inside INdiana Business) — Elanco Animal Health Inc. (NYSE: ELAN) is reporting full-year net income of nearly $68 million in 2019, down from $86.5 million the previous year. 2019 marked the first full year for Elanco as an independent, public company. It separated from Indianapolis-based Eli Lilly and Co. (NYSE: LLY) in 2018.

The company is also reporting a fourth-quarter net loss of $9.5 million, compared to net income of $16.4 during the same period a year ago.

Elanco President and Chief Executive Officer Jeff Simmons says the company is moving with “speed and agility” like never before.

“We are advancing our pipeline, executing across a diverse portfolio and improving profitability through a robust productivity agenda,” said Simmons. “We remain confident in the underlying fundamentals in our base business.”

Simmons says the acquisition of Bayer Animal Health is developing better than expected. In August, Elanco announced it was purchasing the animal health assets from Germany-based Bayer AG in a deal valued at $7.6 billion.

“We are encouraged by the progress from a regulatory, financing and integration planning perspective, as well as, Bayer’s underlying market positioning and performance. We continue to look toward a mid-2020 close.”

If approved, it would double Elanco’s Companion Animal business and create the second-largest animal health company by revenue.

To view the complete earnings report, click here.

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