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Brakke Consulting’s
Animal Health News & Notes for May 6, 2011
Copyright © Brakke Consulting, Inc.
Editor: Lynn Fondon, DVM MBA
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IN THE NEWS:
Brakke news
market research
earnings news
Butler Schein
Central Garden & Pet
Heska
MWI
Pfizer
Pilgrims Pride
Ridley
other news
Antech
Bioniche
Church & Dwight
GenVec
Heska
Manna Pro
McAllister
Merial
Nature’s Earth Products
North American Compendiums
Rapid Diagnostek
Summit Industries
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KC ANIMAL HEALTH INVESTMENT FORUM
AUGUST 30, 2011
NOW ACCEPTING APPLICATIONS
The KC Animal Health Corridor is now accepting applications for the third annual KC Animal Health Investment Forum in Kansas City, Missouri.
The forum will showcase animal health and nutrition companies from throughout the world. The selection committee will consider companies that meet the following criteria:
• Seeking $500,000 to $20 million in funding
• Revenue projections of $20 million within 5-7 years
Applications must be submitted by June 24, 2011. All companies will be contacted by July 22 regarding their acceptance. To apply online, go to http://www.kcanimalhealthforum.com/apply.php or contact Chris Walsh at cwalsh@stlrcga.org.
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COMPANY EARNINGS RELEASES
> Pfizer Inc. reported financial results for the first quarter of 2011. Animal Health unit revenues were $982 million, an increase of 16% compared to the first quarter of 2010. Revenues were favorably impacted by approximately 6% due to the addition of legacy King (Alpharma) products. (company website)
> Heska reported financial results for the first quarter of 2011. Total revenues were $19.5 million, an increase of 10% compared to the first quarter of 2010. Net income was $916,000 compared to a net loss of ($331,000) in the prior year. (company press release)
> MWI Veterinary Supply, Inc. announced financial results for its second quarter ended March 31, 2011. Total revenues were $367 million for the quarter, 28% higher than revenues for the same period in the prior fiscal year. Net income was $10.3 million for the quarter, 35% higher than net income for the same period in the prior fiscal year. (company website)
> Henry Schein, Inc. reported financial results for the quarter ended March 26, 2011. Butler Schein Animal Health sales of $231 million increased 12%, including internal growth of 8%. (sys-con.com)
> Central Garden & Pet Company reported financial results for its second quarter ended March 26, 2011. Net sales for the Pet Products segment were $225 million, an increase of 1% compared to the year ago period. (company website)
> Ridley Inc. reported its financial results for the third quarter of fiscal 2011 ended March 31, 2011. Revenue of $154 million in the third quarter of fiscal 2011 was 8% higher than the same period last year. Net earnings for the third quarter of fiscal 2011 were $3.2 million compared with $2.5 million in the same period of fiscal 2010. (company website)
> Pilgrim’s Pride reported a net loss of ($120.8 million) in the first quarter ended March 27, compared with a loss of ($45.5 million) a year earlier. Revenue rose to $1.9 billion in the quarter from $1.6 billion a year ago. Pilgrim’s Pride said it faces $500 million in higher feed costs this year despite having covered most of its grain needs through year-end. (Meating Place)
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COMPANY NEWS RELEASES
> GenVec, Inc. announced that it has entered into a second agreement with Merial. In December 2010, GenVec announced that the company will be working with Merial to develop and commercialize GenVec’s proprietary vaccine technology for use against foot-and-mouth disease. Under a new agreement and program, Merial has the right to evaluate GenVec technology for applications in other areas of animal health; Merial has elected to start the program using the GenVec technology to target swine diseases. (PRNewswire)
> Bioniche Life Sciences Inc opened its new Animal Health and Food Safety Vaccine Manufacturing Centre at its corporate headquarters in Belleville, Ontario, Canada. This facility represents the largest livestock vaccine manufacturing facility in Canada. (Pharmabiz.com)
> Antech Diagnostics announced the immediate availability of the Antech Cardio-BNP canine test, a new biomarker assay for congestive heart failure (CHF) in dogs. (company press release)
> Heska announced a research, development and commercial agreement with Rapid Diagnostek, Inc. Heska has the worldwide exclusive right to sell resulting products in the companion animal health market worldwide. The platform uses biosensors to detect pathogens, proteins and other bio-molecules in 60 seconds from body fluids. (company press release)
> North American Compendiums announced that the fourth edition of TARGET – The Veterinary Antimicrobial Reference Guide to Effective Treatment, is now available as an iPhone application. (company press release)
> McAllister Software Systems launched a new line of private-label premium computer hardware systems called the Bulldog Series. The Bulldog line was developed specifically for the veterinary industry, addressing the unique needs and concerns of large and small veterinary practices. (company press release)
> Manna Pro Products LLC announced the acquisition of the Corona and Horseman’s Dream animal care brands from Summit Industries Inc., and the closing of an exclusive license to market the Lexol leather-care brand to the equine markets. Financial terms were not disclosed. (St Louis Business Journal)
> Church & Dwight announced the acquisition of Feline Pine cat litter from Nature’s Earth Products. Annual sales of Feline Pine are approximately $20 million. Financial terms were not disclosed. (Pet Product News)
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ANIMAL HEALTH NEWS
> INDONESIA – AVIAN INFLUENZA Indonesia’s agriculture ministry reported 18 outbreaks of avian influenza detected in villages in Gorontalo province from late March through early April. The virus killed 817 birds in the villages, and 4,119 more were destroyed to curb the spread of the disease. Officials said the source of the virus was illegal movements of animals. (Animal Pharm)
> VIETNAM – AVIAN INFLUENZA Vietnam’s agriculture ministry said the avian influenza virus struck a village in Vinh Long province, killing 1,050 birds and leading to the culling of 950 more to control the outbreak, according to a report sent to the OIE. The province is located in the southern part of the country in the Mekong Delta. (Animal Pharm)
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BRAKKE CONSULTING, INC.
MARKET RESEARCH SERVICES
Throughout the year, Brakke Consulting, Inc., performs market research surveys and studies for client companies. If your firm needs help assessing the feasibility of a new product or technology, identifying the opinions and trends of product consumers, or determining the current market for products, Brakke Consulting, Inc. can build a market study to meet your needs.
Further information can be found at our website or by calling our Dallas office at 972.243.4033.
www.BrakkeConsulting.com
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BRAKKE CONSULTING VIEWPOINT
Another great week in animal health!! Again we had some impressive results reported for the first quarter from leading distributors and manufacturers. Is 2011 going to turn out to be a record year in animal health?
Congratulations to the AVDA organization for another great meeting. The location, program and opportunities for networking were above the norm. The AVDA meeting is one of those special industry events that should not be missed, so put it on your schedule for next year; it’s on mine.
Hopefully, you noted earlier in the newsletter the announcement that the 3rd Annual Animal Health Investment Forum will be held in Kansas City on August 30th. This industry event has quickly jumped to the top of places to be if you’re interested in raising venture capital for new innovative companies, or looking to in-license technology. We expect to have over three dozen applications from early-stage companies interested in the opportunity to present their innovations to investors, corporate development managers and service companies. We hope to see you there.
Have a great weekend!!
Ron Brakke
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