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Little added than a anniversary afterwards investors acclaimed Eli Lilly’s plan to circuit off its beastly bloom unit, Elanco, the aggregation has delivered. It filed a allotment account with the SEC Thursday, adage it accepted to advance an buying of beneath than 20% of the spinoff. It has not yet bent the admeasurement or amount ambit for the alms but expects to complete the IPO by the end of the year.

As aflame as investors were to see Lilly abstracted its beastly and beastly bloom businesses, Elanco’s allotment account reveals a aggregation with affluence of growing pains. Elanco’s sales in the aboriginal bisected of this year were $1.5 billion, up aloof hardly from the aforementioned aeon aftermost year. Its 2017 sales came in at about $3 billion, bottomward 2% from the above-mentioned year, and pretax profits amounted to aloof $552 million—well abbreviate of its ambition of $3.6 billion in acquirement and $943 actor in earnings.

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RELATED: As Lilly’s pharma calendar delivers, cash-cow Elanco sets up for a much-anticipated IPO

Elanco has commonly acquired best of its revenue from acreage animals—those articles represented 63% of sales aftermost year, according to the allotment statement—but it has been alive in contempo years to addition its attendance in the fast-growing accompaniment beastly ancillary of the business. It best up Novartis’ beastly bloom assemblage for $5.4 billion in 2015, and again acquired Boehringer Ingelheim’s dog and cat vaccines in 2016.

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Lilly’s accompaniment beastly sales grew 10% in 2017, acknowledgment abundantly to Galliprant, a analysis for osteoarthritis in dogs that Elanco accountant from Aratana Therapeutics in 2016. It’s one of four new articles Elanco has launched in the accompaniment beastly bazaar back 2015.

But the aggregation has been slow to bolt assimilate

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