Elanco Animal Health Inc. President and CEO Jeff Simmons, is interviewed by CNBC on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 20, 2018. REUTERS/Brendan McDermid

(Reuters) -The U.S. Food and Drug Administration on Friday authorized emergency use of Elanco Animal Health's chewable tablet to treat the infestation of a parasite in cats known as New World screwworm.

Shares of the company were up more than 3% in afternoon trading.

The agency said it is the first time it has cleared a drug specifically for this use in cats and kittens. The authorization allows the drug, branded as Credelio CAT, to be used while U.S. health officials consider New World screwworm a potential public health emergency.

The New World screwworm is a parasitic fly species whose larvae infest open wounds on warm-blooded animals, including livestock and humans.

Most cats in the U.S. are at low risk of New World screwworm due to their geographic location, the agency said. Outdoor cats near the U.S.-Mexico border and cats that have traveled to countries where the parasite is found are more likely to be exposed.

Credelio CAT will only be available with a prescription from a licensed veterinarian. The FDA said professional expertise is needed to watch for side effects and manage any problems that arise.

Cat owners should speak with their veterinarian about whether the treatment is suitable for their animal, the FDA said.

Credelio CAT was first approved by the FDA in 2019 to prevent fleas and ticks in cats and kittens.

The drug's active ingredient, lotilaner, is part of a widely used class of drugs for parasites. While these products are considered safe for most cats, they have been linked in some cases to nervous system side effects such as tremors, unsteady movement and seizures, the regulator said.

(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Maju Samuel)