Nov 12 (Reuters) - Elanco Animal Health ( ELAN ) agreed

to pay a $15 million civil fine to settle U.S. Securities and

Exchange Commission anti-fraud charges for misleading investors

about its revenue growth and end-user demand, the regulator said

on Tuesday.

The SEC said Elanco should have disclosed that between the

first quarter of 2019 and the first quarter of 2020, it used

sales incentives to achieve its revenue growth and caused

distributors to buy goods in excess of then-existing demand.

When Elanco decided to stop offering the incentives, causing

a $160 million revenue decline, it cited the uncertainty of the

COVID-19 pandemic though the Greenfield, Indiana-based company

had decided earlier to end the incentives, the SEC said.

Elanco did not admit or deny wrongdoing in agreeing to

settle. It was spun off by Eli Lilly ( LLY ) in 2018.