Elanco Animal Health's stock declined due to updated FDA approval timelines for Zenrelia and Credelio Quattro, with Zenrelia receiving a safety warning.

Elanco Animal Health's stock fell after the company updated its FDA approval timelines for Zenrelia, a dog eczema treatment, and Credelio Quattro, a broad-spectrum oral parasiticide. Zenrelia will receive a safety warning on its label, expected to slow adoption in the U.S. and limit treatment days by 25%. Elanco expects to deliver $600-$700m in innovation sales by 2025.