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Brakke Consulting’s
Animal Health News & Notes for August 27, 2010
Copyright © Brakke Consulting, Inc.
Editor: Lynn Fondon, DVM MBA
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IN THE NEWS
Brakke news
Executive and sales force recruiting
earnings news
Webster
other news
Bioniche
Ceva
Elanco
HealthPro Brands
J.D. Heiskell
Land O’Lakes Purina Feed
Midwest Veterinary Supply
Pfizer
Professional Veterinary Products
Summit VetPharm
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COMPANY EARNINGS RELEASES
> Patterson Companies, Inc. reported consolidated results for the first quarter of fiscal 2011 ended July 31. Sales of the Webster Veterinary Supply unit increased 6% in the first quarter of fiscal 2011 to $180 million. (company website)
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COMPANY NEWS RELEASES
> Pfizer Animal Health announced the launch of InForce 3 Respiratory Vaccine, new three-way respiratory cattle vaccine. The intranasal vaccine offers disease prevention against bovine respiratory syncytial virus (BRSV), infectious bovine rhinotracheitis (IBR) and parainfluenza type 3 (PI3). (CattleNetwork)
> Ceva announced it has entered into an agreement with Sumitomo Corporation of America, and Sumitomo Corporation, to acquire a majority share of Sumitomo’s animal health subsidiary, Summit VetPharm, LLC. Sumitomo Corporation will remain a minority shareholder in the new North American CEVA companion animal business, which will include the assets of Summit VetPharm. Financial terms were not disclosed. (company press release)
> Professional Veterinary Products Ltd., has filed for Chapter 11 bankruptcy, citing slumping sales in the faltering economy. Officials of the firm are shopping it around to potential buyers, according to a company spokeswoman. (Bloomberg)
> Bioniche Life Sciences Inc. and the University of Ottawa announced the signing of an exclusive global license agreement. The agreement provides commercial access for Bioniche to University of Ottawa’s technology for botanical therapeutics (natural health) and pharmaceutical compounds for treating anxiety and related conditions in animal health, human health and aquaculture. (PRNewswire)
> HealthPro Brands, Inc., and Elanco announced that Elanco is the global animal-protein development partner for HealthPro Brands’ antimicrobial food wash. Elanco will manage the development through its new food-safety business platform, Elanco Food Solutions, and will commercialize several formulations for the meat and poultry industries. HealthPro Brands currently markets an antimicrobial formulation under the FIT brand for the produce industry. (company press release)
> Midwest Veterinary Supply, Inc. announced the opening of their newest branch location in Dallas, TX. (PR Newswire)
> Land O’Lakes Purina Feed and J.D. Heiskell & Company announced the formation of a joint venture feed and grain company in California to be called “Golden State Feed and Grain.” The entity will operate Land O’Lakes Purina Feed’s feed mill in Hanford, California and J.D. Heiskell & Company’s feed mill in Pixley, California, and sell rolled grains, mixed feeds, mineral blends, commodity blends and other value-added products to central California livestock feeders. Financial terms were not disclosed. (Feedstuffs)
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BRAKKE CONSULTING, INC.
EXECUTIVE AND SALES FORCE RECRUITING
Since 1986 Brakke Consulting, Inc. has successfully assisted many clients in acquiring exceptional employees at all levels, in the many departments of animal health, pet, veterinary and specialty chemical companies.
We pre-qualify candidates, allowing clients to choose from a few of the best applicants for a position. Our approach increases the efficiency and effectiveness of the Human Resources Departments of client companies.
For more information, go to www.BrakkeConsulting.com.
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ANIMAL HEALTH NEWS
> US – PET INSURANCE REFORM Under a bill approved by the California Assembly, companies that insure veterinary care for cats, dogs and other animal companions would have to provide more information about what level of care is covered by their insurance plans. The measure requires insurers to disclose on their websites any policies that limit coverage. The Assembly approved the bill on a 42-22 vote and sent it to the governor for his review. (Washington Post)
> US – ONLINE PESTICIDE LABELS The EPA has announced a “User Acceptance Pilot” to research the extent to which pesticide users would accept a system requiring them to obtain labeling via the internet. The agency believes that compliance would be increased because web-distributed labels would provide only “instructions for the location and intended use that the pesticide user specifies online,” according to an EPA statement Aug. 25. (Feedstuffs)
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BRAKKE CONSULTING VIEWPOINT
The news this week again points out the nature of the consolidating animal health business with another merger or investment announcement. Where and when will consolidation end? is a question we’re often asked. We’re of the opinion that consolidation will continue as it has for the past 30 years in the industry.
The economic and regulatory environment related to the costs of developing new technology and marketing the resulting products is not for the faint at heart. The time from discovery until commercialization makes for some stressful times and needs for cash reserves. We’re pleased that even in the face of these obstacles there are entrepreneurial individuals that are willing to take the risk for a big payoff.
One of the bright spots is that if you have the capability to found a company with some innovative technology with reasonable IP, you’ll find a ready market in the medium sized and larger companies that need to fill up their early stage portfolios.
Next week in Kansas City we are pleased to be one of the underwriters of the 2nd Annual Animal Health Investment Forum where early stage companies can interface with investors. We look forward to seeing you there.
Have a great weekend!!
Ron Brakke
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Brakke Consulting, Inc.
2735 Villa Creek, Suite 140
Dallas, TX 75234 USA
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