Elanco Animal Health Incorporated (ELAN) Investigation

Elanco Animal Health is facing questions from investors regarding the accuracy of its previous statements concerning the commercial launch timelines for two key products. These products, Zenrelia, a dermatology treatment for pets, and Credelio Quattro, a broad-spectrum parasiticide, were positioned by Elanco as potential “blockbusters.”

On May 8, 2024, Elanco assured investors that both products had progressed significantly through the FDA approval process. The company expressed confidence that the FDA possessed all necessary data and anticipated complete technical section and label approvals before the end of June 2024. Elanco further projected a launch of Zenrelia in the third quarter and Credelio Quattro in the fourth quarter of 2024. This news resulted in a substantial increase of over 24% in Elanco's share price on May 8th.

But on June 27, 2024, Elanco significantly revised its launch timelines. The company now anticipates a fourth-quarter launch for Zenrelia, with a label carrying a “boxed warning on safety” due to trial results involving unvaccinated dogs. This warning is expected to impact the product’s adoption rate. Additionally, Elanco disclosed that the FDA deemed Credelio Quattro’s New Animal Drug Application (NADA) incomplete, pushing the targeted launch date to the first quarter of 2025.

This revised timeline announcement caused a significant decline in Elanco's share price, dropping over 20% on June 27, 2024.

The discrepancy between prior assurances and the revised timelines has prompted prominent shareholder rights firm Hagens Berman to open an investigation.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the ELAN investigation about?

We are investigating whether Elanco may have misled investors about Zenrelia's safety and the completeness of the Credelio Quattro NADA.

WHAT SHOULD I DO?

I worked at ELAN. What should I do?

If you were an employee of ELAN, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in ELAN, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any ELAN investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.