11:49 AM EST, 11/12/2024 (MT Newswires) -- Elanco Animal Health ( ELAN ) agreed to pay $15 million to settle antifraud charges by the US Securities and Exchange Commission related to incentivized sales practices that distorted revenue growth, the agency said.

The company didn't admit or deny the allegations, the SEC said in a statement.

From Q1 2019 to Q1 2020, the company "used discounts, rebates, and extended payment terms to entice its distributors to purchase product above then-existing end-user demand," the SEC said. Elanco "did not disclose the risk that its sales practices might negatively impact future revenue," the agency said.

Elanco didn't immediately respond to a request for comment by MT Newswires.

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