(NewMediaWire) - October 18, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Elanco Animal Health Incorporated (“Elanco” or the “Company”) (NYSE: ELAN) securities between November 7, 2023 and June 26, 2024 (the “Class Period”).If you are an investor in Elanco and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
On June 27, 2024, Elanco issued a press release that provided an “innovation update” on Zenrelia and Credelio Quattro and their U.S. Food and Drug Administration (“FDA”) approval timelines. According to Investors Business Daily, the Company announced delays and “a surprise box warning” for Zenrelia, its new eczema treatment for dogs. Specifically, the Company revealed that it expects the U.S. label for Zenrelia to include a box warning on safety “based on the outcome of a trial with unvaccinated dogs dosed at 3x the label dose.” The Company believes the box warning will “slow the product adoption curve in the U.S. and initially limit the number of expected treatment days by approximately 25%.” Further, the Company announced that it now expects the U.S. launch for Zenrelia in the fourth quarter of 2024 and the U.S. FDA approval of Credelio Quattro in the fourth quarter of 2024, with U.S. launch expected in the first quarter of 2025.
On this news, the price of Elanco stock fell $3.70 per share, over 20%, to close at $14.27 per share on June 27, 2024.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Zenrelia was less safe than the Company had led investors to believe; and (ii) Elanco was unlikely to meet its own previously issued timeline for the U.S. approval and commercial launch of both Zenrelia and Credelio Quattro.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
