Melbourne Cup runner Rostropovich has been taken to a veterinary clinic with a cracked pelvis after finishing at the tail of the field in the $8 million race.
After receiving initial veterinary care, the horse was transported to the University of Melbourne Equine Centre for further assessment.
Racing Victoria said he was in a stable condition, comfortable and receiving the best veterinary care.
"Rostropovich will be confined to box rest for the near future and will be closely monitored over the coming days by veterinary staff," RV said.
Rostropovich was having his second run in the Melbourne Cup.
PETA spokesperson Emily Rice said Rostropovich was the latest horse to have been injured or killed during the "disgrace that stops the nation".
"We seriously hope that Rostropovich doesn't become another Red Cadeaux - kept alive until the carnival hype dies down and then euthanised," said Elio Celotto, Campaign Director for the Coalition for the Protection of Racehorses.