Elanco(US:ELAN) GlobeNewswire News Roomยท2024-10-21 22:22Core Viewpoint - A class action lawsuit has been filed against Elanco Animal Health Incorporated for allegedly misleading investors regarding the safety and approval timelines of its drugs Zenrelia and Credelio Quattro [1][3]. Group 1: Lawsuit Details - The lawsuit was filed in the U.S. District Court for the District of Maryland on behalf of investors who acquired Elanco securities between November 7, 2023, and June 26, 2024 [1]. - Investors have until December 6, 2024, to apply to be appointed as lead plaintiff in the lawsuit [1]. Group 2: Product Approval Timeline - Elanco initially set a timeline for U.S. approval of Zenrelia and Credelio Quattro for the first half of 2024, but later delayed the approval to the third quarter of 2024 for both drugs [1][2]. - A press release on June 27, 2024, indicated that Zenrelia would likely include a boxed warning on safety, which could slow product adoption and reduce the safe administration days for vaccinated dogs by approximately 25% [2]. - Following the announcement, Elanco's share price fell by $3.69, or about 20.53%, from $17.97 to $14.28 per share [2]. Group 3: Allegations in the Lawsuit - The lawsuit alleges that Elanco made false or misleading statements regarding the safety of Zenrelia and the likelihood of meeting its previously issued timelines for the approval and launch of both Zenrelia and Credelio Quattro [3].