SAN DIEGO, June 28, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Elanco Animal Health Incorporated ("Elanco" or the "Company") (NYSE: ELAN) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
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What is Johnson Fistel investigating? On June 27, 2024, Elanco issued a press release providing updates on the anticipated U.S. Food and Drug Administration (FDA) approval timelines for Zenrelia and Credelio Quattro. According to the release, Zenrelia is now expected to receive FDA approval in the third quarter of 2024, with a potential commercial launch planned for the fourth quarter of the same year. Elanco had previously set a launch timeline for Zenrelia in the third quarter. Additionally, the press release indicated that Credelio Quattro is now anticipated to receive FDA approval in the fourth quarter of 2024, adjusting from the previously projected approval timeline in the third quarter.
Following this news, the company’s stock price fell 20%, to close at $14.28 per share on June 27, 2024.
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