Elanco(ELAN) Prnewswire·2024-10-13 21:55Core Viewpoint - A securities fraud class action has been filed against Elanco Animal Health Incorporated, alleging that the company made materially false and misleading statements regarding its business and product safety during the class period from November 7, 2023, to June 26, 2024 [1][3]. Company Overview - Elanco Animal Health Incorporated is based in Greenfield, Indiana, and specializes in the development and manufacture of pharmaceuticals and vaccines for pets and livestock [3]. Securities Fraud Claims - The complaint alleges that Elanco's management failed to disclose critical information, including: - Zenrelia was less safe than previously communicated to investors [3]. - The company was unlikely to meet its timeline for U.S. approval and commercial launch of Zenrelia and Credelio Quattro [3]. - Consequently, Elanco's business and financial prospects were overstated [3]. Impact of Recent Announcements - On June 27, 2024, Elanco announced that Zenrelia's U.S. label would include a safety warning, which is expected to slow product adoption and limit treatment days by approximately 25% [4]. - Following this announcement, Elanco's stock price fell by 14.28 on the same day [4].