Poulin | Willey | Anastopoulo Notifies Investors of Elanco Animal Health, Inc. Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 6, 2024 – ELAN

Poulin | Willey | Anastopoulo, a leading Plaintiffs class action firm announces the filing of a class action securities lawsuit in the United States District Court for the District of Maryland on behalf of persons or entities who purchased or otherwise acquired the securities of  Elanco Animal Health, Inc. (“Elanco Animal Health” or the “Company”) (NASDAQ:ELAN) between November 7, 2023  and June 24, 2024, both dates inclusive (the “Class” and the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2024.

WHY: If you purchased Elanco Animal Health securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency arrangement. There is no cost or obligation to participate.

WHAT’S NEXT: To join the Elanco Animal Health class action, email Stuart J. Guber, Esq. at stuart.guber@poulinwilley.com. If you wish to serve as a lead plaintiff, you must move the Court no later than December 6, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

CASE DETAILS: According to the Complaint, Elanco Animal Health is an animal health company that develops, manufactures, and markets products for pets and farm animals. The Company is developing Zenrelia, a “safe, highly effective, and convenient once-daily oral” JAK inhibitor for canine dermatology, and Credelio Quattro, a broad spectrum parasiticide product for dogs. This class action was filed against Elanco and two of its Officers.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges 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; (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; (iii) accordingly, the Company's business and/or financial prospects were overstated; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

On June 27, 2024, the Company issued a press release providing an “innovation update” on Zenrelia and Credelio Quattro and their U.S. Food and Drug Administration approval timelines. Elanco now expected the U.S. label for Zenrelia to include a boxed warning on safety, which the Company believed would “slow the product adoption curve in the U.S.” and initially limit the number of expected treatment days by approximately 25%. Further, Elanco stated that it was now expecting Zenrelia to receive FDA approval in the third quarter of 2024, leading to a potential commercial launch in the fourth quarter of 2024, and that Credelio Quattro was expected to receive FDA approval in the fourth quarter of 2024. On this news, Elanco’s stock price fell $3.69 per share, or 20.53%, to close at $14.28 per share on June 27, 2024.

As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and the other Class members have suffered significant losses and damages.

NO COST TO YOU: No Recovery, No Attorney’s Fees, No Costs. We represent you on a fully contingent basis. There are no fees or costs to you for your participation in the lawsuit if the lawsuit is unsuccessful.

WHY POULIN | WILLEY| ANASTOPOULO: The firm is one of the leading Plaintiff class action and mass tort firms in the country. Our Director of Shareholder Services and Securities Litigation, Stuart J. Guber, has over three decades of experience successfully representing defrauded shareholders including public pension plans, Taft-Hartley union pension plans and health & welfare funds, and individual investors in class action securities litigation and securities opt-out litigation.