Lilly's Elanco Unit & Aratana Launch Veterinary Pain Drug

Eli Lilly and Company 's LLY animal health subsidiary, Elanco and partner Aratana Therapeutics, Inc. PETX together announced the availability of a new drug - Galliprant (grapiprant tablets) to the veterinarians for the management of pain and inflammation associated with canine osteoarthritis (OA).

Lilly's share price has declined 8.4% in the past one year compared with the Zacks classified Large Cap Pharmaceuticals industry's fall of 2.1%.

Coming back to the release, Galliprant - the first piprant approved for use in veterinary medicine is now available to veterinarians for once-daily use in dogs with OA. Also, it can be used in patients as young as 9 months.

Osteoarthritis is incurable disease and is one of the most common causes of chronic pain in dogs. However, if diagnosed early the pain and inflammation can be controlled enabling the arthritic dogs to have an improved quality of life.

Elanco has exclusive rights for developing, manufacturing and marketing Galliprant globally, and it co-promotes the product with Aratana in the U.S.

Lilly's Elanco makes parasiticides, pain and dermatology medicines for food animals as well as companion animals. In January 2017, the division acquired German drugmaker Boehringer Ingelheim's Vetmedica U.S. pet vaccines unit along with a fully integrated manufacturing and R&D site for $885 million.

The deal diversified Elanco's U.S. companion animal portfolio by complementing its offerings for dogs and cats. Notably, Lilly bought the animal-health division of Novartis NVS in early 2015, which strengthened the Elanco division of the company.

Eli Lilly and Company Price

Eli Lilly and Company Price | Eli Lilly and Company Quote

Zacks Rank & Key Pick

Lilly currently carries a Zacks Rank #2 (Buy). Another favorably ranked stock in the health care sector includes Anika Therapeutics Inc. ANIK which sports a Zacks Rank #2 (Buy), Enzo Biochem carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here.

Anika's earnings estimates for 2016 and 2017 were up 3.9% and 0.5%, respectively, over the last 60 days. The company recorded a positive earnings surprise in each of the last four quarters, the average being 33.14%. Its share price was up 39.5% in the past one year.

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Eli Lilly and Company (LLY): Free Stock Analysis Report

Novartis AG (NVS): Free Stock Analysis Report

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Aratana Therapeutics, Inc. (PETX): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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