Full Press Release Details
SAN FRANCISCO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Elanco Animal Health (NYSE: ELAN) is facing a securities class action lawsuit alleging the company misled investors about the safety and regulatory path of its new dermatology drug, Zenrelia.
Hagens Berman urges Elanco investors who suffered substantial losses to submit your losses now.
Class Period: Nov. 7, 2023 – June 26, 2024
Lead Plaintiff Deadline: Dec. 6, 2024
Contact the Firm Now: ELAN@hbsslaw.com
Class Action Lawsuit Against Elanco Animal Health Incorporated (ELAN):
The lawsuit, filed in the U.S. District Court of Maryland, targets the company and certain executives, claiming they made false and misleading statements between November 7, 2023, and June 26, 2024.
The suit alleges Elanco downplayed potential safety risks associated with Zenrelia, an oral Janus kinase inhibitor, while overstating its prospects for a swift U.S. launch. According to the complaint, this came to light on June 26, 2024, when Elanco disclosed Zenrelia's label would include a boxed warning highlighting safety concerns identified during trials with unvaccinated dogs. This warning is expected to significantly hinder product adoption and limit treatment day.
Following the disclosure, Elanco's stock price fell by more than 20%. Further details regarding the boxed warning emerged during the company's Q2 earnings call on August 4, 2024. CEO Jeffrey N. Simmons acknowledged the label language would "slow the initial product adoption curve" due to the need for focused veterinary education. Additionally, Simmons noted expectations for a 25% reduction in treatment days based on anticipated limitations related to vaccine usage in the boxed warning.
Law firm Hagens Berman is investigating the allegations. “We're looking into whether Elanco may have misled investors about Zenrelia's safety profile," said lead partner Reed Kathrein.
If you invested in Elanco Animal Health and have substantial losses submit your losses now »
If you’d like more information and answers to frequently asked questions about the Elanco case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Elanco should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new 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, call Reed Kathrein at 844-916-0895 or email ELAN@hbsslaw.com.
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895