This New Drug Can Make Farming More Environmentally Sustainable
The only thing better than a well-made steak is an environmentally friendly well-made steak. Livestock farming has had its problems with greenhouse gas emissions, and the push for cleaner production has brought the need for innovations.
Enter Elanco Animal Health (NYSE: ELAN), an animal pharmaceutical company that may have a new product that can help make farming more environmentally sustainable. Elanco has received approval for a drug called Experior that can reduce emissions for feedlot cattle. This drug has the potential to not only improve the environment, but also make money for shareholders.
The livestock industry is truly beefy. By 2026, the global beef market will be worth roughly $375 billion. This growth is being driven by increasing demand for protein across the world as the global population continues to grow and consumers in developing countries get richer. A direct result of this trend is the need to raise more cattle herds.
Source Fool.com
