GREENFIELD, Ind. – Elanco Animal Health (NYSE:) Incorporated (NYSE: ELAN), a global leader in animal health, announced today that the U.S. Food and Drug Administration (FDA) has approved Credelio Quattro™ for dogs. This new product is the first of its kind to protect against a spectrum of six parasites, including fleas, ticks, heartworms, roundworms, hookworms, and various species of tapeworms.
Credelio Quattro, which will be available in the first quarter of 2025, is a monthly chewable tablet aimed at dogs eight weeks of age or older. It is the first FDA-approved parasiticide product that combines four active ingredients: lotilaner, moxidectin, praziquantel, and pyrantel. This combination offers comprehensive parasite protection, which is becoming increasingly important as rising temperatures and changing consumer habits contribute to the spread of zoonotic parasites.
Jeff Simmons, President and CEO of Elanco, emphasized the significance of the approval, stating, “Today is another milestone in Elanco’s historic era of innovation.” He highlighted the importance of providing broad parasite protection, considering the close relationship between pets and families.
The product’s efficacy includes killing more than 99% of fleas within 8 hours of administration and providing complete protection from heartworm disease from the first monthly dose in laboratory studies. It has also been shown to kill ticks faster than some existing products on the market.
Dr. David Gosche, veterinarian and U.S. Pet Health Medical Director at Elanco, pointed out the risks of zoonotic diseases, which can be transmitted from pets to people, and stressed the importance of year-round treatment with Credelio Quattro.
Credelio Quattro joins Elanco’s extensive portfolio of parasiticides, which includes Seresto® and the Advantage® family. These products offer a range of options for pet owners and veterinarians at different price points.
Elanco is committed to improving animal health and has nearly 70 years of heritage in the field. The company’s vision is to enrich life through food and companionship and to make a meaningful impact on communities globally.
This announcement is based on a press release statement and contains forward-looking statements regarding the potential impact and commercialization of Credelio Quattro. However, there is no guarantee that the product will achieve the anticipated market success.
In other recent news, Elanco Animal Health has been the focus of several analyst reviews and product developments. The company’s new drug, Zenrelia, designed to treat atopic dermatitis in dogs, has been approved by the U.S. Food and Drug Administration. Zenrelia’s approval is a significant step for Elanco, as it marks the company’s entry into the global canine dermatology market, estimated at $1.7 billion.
Stifel, a financial services firm, has maintained a Buy rating on Elanco, expressing optimism about the company’s Pet Health Innovation strategy, which includes Zenrelia. However, Morgan Stanley has downgraded Elanco’s stock from Overweight to Equalweight, citing concerns about market saturation and competition.
Elanco reported strong financial performance in the second quarter of 2024, with significant growth in revenue, adjusted EBITDA, and adjusted EPS. Despite challenges with its contract manufacturing partner, TriRx Speke Ltd, Elanco anticipates minimal supply disruptions for 2024 and maintains its full-year adjusted EBITDA guidance of between $900 million and $940 million.
These recent developments are a testament to Elanco’s commitment to innovation in pet health, financial stability, and strategic growth, with the potential to drive the company’s growth and financial success in the coming years.
InvestingPro Insights
Elanco Animal Health’s (NYSE: ELAN) recent FDA approval for Credelio Quattro™ aligns with the company’s focus on innovation and growth in the animal health sector. This development is particularly noteworthy when considering some key financial metrics and insights from InvestingPro.
According to InvestingPro data, Elanco’s revenue for the last twelve months as of Q2 2024 stood at $4.49 billion, with a revenue growth of 3.89%. More impressively, the company’s quarterly revenue growth in Q2 2024 was 12.02%, indicating accelerating momentum. This growth trajectory could be further bolstered by the introduction of Credelio Quattro™ in 2025.
An InvestingPro Tip highlights that net income is expected to grow this year, which could be partly attributed to innovative products like Credelio Quattro™. Additionally, another InvestingPro Tip notes that analysts predict the company will be profitable this year, suggesting a positive outlook for Elanco’s financial performance.
It’s worth noting that Elanco has shown a high return over the last year, with a 1-year price total return of 53.35% as of the latest data. This performance indicates investor confidence in the company’s strategic direction and product pipeline.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 5 more InvestingPro Tips available for Elanco Animal Health, providing a deeper understanding of the company’s financial health and market position.
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