Elanco rises on label update for its skin disease treatment for dogs

Shares of animal health company Elanco ELAN.N rise 2.2% to $19.45 premarket

The U.S. FDA has removed "risk of fatal vaccine-induced disease" from the label of its skin allergy drug for dogs, Zenrelia, in the U.S., company says

"The totality of evidence supports removal of the risk of fatal vaccine-induced disease from modified live virus vaccines from the labeling," company quotes FDA as saying

The drug, however, still includes a boxed warning — the most severe issued by the FDA — that continues to advise discontinuation of Zenrelia prior to and after vaccination for at least 28 days due to the risk of inadequate immune response to vaccines

Up to last close, shares up 57.1% YTD