Elanco Animal Health Shares Sink On Unexpected Label Update For Canine Dermatology Drug
Portfolio Pulse from Vandana Singh
Elanco Animal Health (NYSE:ELAN) shares dropped 22.80% due to unexpected updates on FDA approval timelines and labeling for its drugs Zenrelia and Credelio Quattro. Zenrelia's U.S. label will include a boxed warning, potentially slowing adoption. Credelio Quattro faced a delay in its CMC section approval. Despite these setbacks, Elanco raised its Innovation Sales outlook for 2024 and 2025.
June 27, 2024 | 4:25 pm
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Elanco Animal Health shares fell 22.80% due to unexpected FDA updates and labeling issues for Zenrelia and Credelio Quattro. Zenrelia's U.S. label will include a boxed warning, potentially slowing adoption. Credelio Quattro faced a delay in its CMC section approval. Despite these setbacks, Elanco raised its Innovation Sales outlook for 2024 and 2025.
The unexpected FDA updates and labeling issues for Zenrelia and Credelio Quattro have led to a significant drop in Elanco's stock price. The boxed warning on Zenrelia is likely to slow its adoption, and the delay in Credelio Quattro's approval adds to investor concerns. However, the raised Innovation Sales outlook provides some positive long-term prospects.
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