According to the Complaint, Elanco Animal Health Incorporated 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 January 3, 2025, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an amended Complaint on March 24.