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Brakke Consulting’s
Animal Health News & Notes for January 7, 2011
Copyright © Brakke Consulting, Inc.
Editor: Lynn Fondon, DVM MBA
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IN THE NEWS:
Brakke news
2011 Industry Overview
earnings news
Neogen
other news
AB Science USA
Aratana Therapeutics
Biogal-Galed Labs
Cardinal Pet Care
Earth’s Balance
Elanco
Epitopix
Farnam
JBS
Kingfisher Int’l
Land O’Lakes
Luitpold
Marshall Pet Products
Modern Veterinary Therapeutics
Novartis
Pfizer
PRN Pharmacal
Pro Pet
RenovoCyte
Veterinary Products Laboratories
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REGISTER NOW FOR
BRAKKE CONSULTING’S 2011 INDUSTRY OVERVIEW
AT NAVC AND WVC
Brakke Consulting will be presenting its annual US Animal Health Industry Overview at the North American Veterinary Conference and the Western Veterinary Conference in 2011.
NAVC Overview
Monday, January 17th, 2011
2:00 – 4:00 pm
Gaylord Palms, Orlando
LAST DAY FOR ONLINE REGISTRATION IS WEDNESDAY, JANUARY 12
WVC Overview
Date: Tuesday, February 22, 2011
Time: 2:00 – 4:00 pm
Place: The Four Seasons Hotel, Las Vegas
To register, go to www.brakkeconsulting.com and look for the Overview link in the “What’s New” box. Payment by major credit card is required at time of registration.
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COMPANY EARNINGS RELEASES
> Neogen Corporation announced that its net income for the second quarter of FY 2011, which ended Nov. 30, increased 33% to $6.1 million. Second quarter revenues increased 25% to $44 million. Led by performance of the April 2010 acquisition of the GeneSeek genetics service business, Neogen’s Animal Safety Division second quarter revenues increased 34% to $23 million. (company press release)
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COMPANY NEWS RELEASES
> Pfizer Animal Health announced the availability of E. coli Bacterial Extract vaccine with SRP technology, the first vaccine demonstrated to reduce E. coli O157 shedding and prevalence at the source: inside the cattle. E. Coli Bacterial Extract vaccine with SRP technology is manufactured by Epitopix LLC. (Drovers.com)
> Elanco announced the launch of Assurity for cats, a topical flea control solution with the active ingredient spinetoram. Assurity is an EPA-registered product that contains a unique product tracking code, and is dispensed within the context of a valid veterinary/client/patient relationship. (company press release)
> Veterinary Products Laboratories introduced the Duralactin Canine Joint Plus Soft Chew. Each Duralactin Canine Joint Plus Soft Chew contains MicroLactin dried milk protein, glucosamine HCl, MSM, omega 3 fatty acids, manganese, zinc and vitamin E. (company press release)
> PRN Pharmacal announced that CranMate Nutritional Supplement has been added to PRN Pharmacal’s product line. CranMate is formulated for the maintenance of healthy urinary systems, systems with disturbances and those that are prone to urinary tract infections. (company press release)
> Biogal-Galed Labs and Modern Veterinary Therapeutics announced the launch of Biogal’s Canine VacciCheck in the USA. The Canine VacciCheck kit is intended to be used as a diagnostic tool to evaluate the antibody response to the core vaccination or infection by Infectious canine hepatitis, canine parvovirus and distemper virus. (PRNewswire)
> AB Science USA received notification from the US FDA that masitinib has received conditional approval for treatment in canine mast cell tumor. Masitinib will be made available to US veterinarians, and will be marketed under the brand name KINAVET-CA1. (company press release)
> Farnam announced that IverCare (ivermectin) Paste 1.87% is once again available from the company. (company press release)
> H.I.G. Capital, LLC announced that its affiliate has acquired a majority interest in Pro-Pet, LLC. Land O’ Lakes, an owner and a significant driver of Pro-Pet’s growth to date, will maintain an equity position in the business. Pro-Pet specializes in the manufacturing of premium and super-premium, private label dry pet food for distribution domestically and around the world. Financial terms were not disclosed. (Business Wire)
> Cardinal Pet Care announced the launch of the Remedy + Recovery line of pet first-aid products. The product line includes several OTC topical treatments, as well as e-collars. (Pet Business)
> Marshall Pet Products announced it has acquired Earth’s Balance pet brands. Financial terms were not disclosed. (Pet Business)
> Aratana Therapeutics, a newly-formed company focused on the development of innovative therapies for the animal health industry, announced that it has closed a $20 million Series A financing led by MPM Capital and Avalon Ventures. Aratana will be focused on taking advancements from the human biopharmaceutical industry and applying them in new ways to treat and care for animals. (company press release)
> RenovoCyte, LLC announced it has entered into a license agreement with Medistem, Inc. to develop and commercialize cellular therapy based on Medistem’s proprietary universal donor endometrial regenerative cells (ERC) for use in veterinary applications. (Market Wire)
> JBS S.A. cancelled an initial public offering of its U.S. unit, JBS USA Holdings Inc. JBS did not say specifically why it was pulling the plug on the IPO. However, JBS announced last week it is on the verge of selling $2.36 billion of 8.5% interest debentures to Brazil’s state development bank, BNDES, that are convertible into shares in five years. The deal would allow JBS to replace debt BNDES holds and thereby eliminate the need for an IPO. (Meating Place)
> UK Novartis Animal Health will begin marketing and distributing the degenerative joint disease treatment Adequan Equine in the UK, pursuant to an agreement with Luitpold Pharmaceuticals, signed in mid-2009, giving Novartis marketing rights in all major equine markets outside the US. (Animal Pharm)
> CANADA Kingfisher International Inc. announced that their brand-new 10,000 sq ft research facility Stouffville, ON, Canada, is complete. (company press release)
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ANIMAL HEALTH NEWS
> WORLD VETERINARY YEAR 2011 has been proclaimed as World Veterinary Year, marking the 250th anniversary of veterinary medicine. The US Congress passed a resolution marking the anniversary and acknowledging the valuable role veterinarians play in society. (JAVMA)
> KOREA – FMD South Korea has raised its alert for foot-and-mouth disease (FMD) to the highest level, ‘serious’, in the wake of the country’s worst outbreak of the highly contagious animal disease. The disease, first confirmed in November last year at farms about 270 kilometers southeast of Seoul, has spread to other parts of the country. (Animal Pharm)
> US – FOOD SAFETY President Barack Obama signed into law a bill intended to modernize the FDA. In addition to requiring processors to evaluate and correct potential hazards, the measure gives FDA a congressional mandate to inspect food processing establishments on the basis of risk. The new legislation also gives FDA the power to compel a recall, and adds additional oversight to food imports. (Meating Place)
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BRAKKE CONSULTING VIEWPOINT
We hope you’re all off to a great start in the New Year. There seems to be a lot of activity in preparation for NAVC, so we look forward to engaging with many of you there. It should be another great meeting to kick-off another positive year in 2011.
We can’t wait to view the number of new exciting products that will be brought to the market this year. We noted in developing our Overview that FDA approved a record number of new products in 2010. However, upon further review we found that only a couple of these were new chemical entities. We’ll be covering our view of the regulatory environment and other issues in our Industry Overview on Monday afternoon at NAVC.
In preparing the 2011 Overview we spent a reasonable amount of time reading and gathering general economic information. We believe that slow recovery of our economy is forcing several structural changes that are going flow through to the companies and individuals operating in animal health. We think you’ll enjoy our thoughts and insights on these structural changes. We live in interesting times!!
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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