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Brakke Consulting’s
Animal Health News & Notes for May 10, 2013
Copyright © Brakke Consulting, Inc.
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting news
veterinary practice management
earnings news
Bioniche
Central Garden & Pet
Henry Schein
PetMed Express
Ridley Inc.
other news
Bimeda
Ceva
Huvepharma
Kinetic Technologies
Luitpold
Neogen
Ridley Corp.
Velcera
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BRAKKE CONSULTING, INC.
PRACTICE MANAGEMENT
Veterinary CE Seminars – Providing Value-added Service to Your Customers
Is your company is looking for new ways to increase your exposure to current and prospective veterinary customers? Practice Management Consultant Jessica Lee of Brakke Consulting speaks on a wide array of topics that can provide added value to your veterinary customers.
Jessica also writes a monthly column for DVM360; read this month’s column on practice profitability at http://veterinarybusiness.dvm360.com/vetec/Veterinary+business/Your-veterinary-practice-is-barely-profitable/ArticleStandard/Article/detail/809120.
For more information on how to book Jessica for speaking engagements, contact her at jglee@brakkeconsulting.com or 919-444-3279.
www.BrakkeVPMG.com
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COMPANY EARNINGS RELEASES
> Bioniche Life Sciences Inc. announced financial results for the third quarter of its 2013 fiscal year ended March 31. Revenues from the sale of Animal Health products were C$7.4 million (US$7.4 million) in the quarter, a 12% decrease compared to the same period in Fiscal 2012. The timing of sales orders contributed to this decline. Net loss for the period was (C$5.6 million) compared to a net loss of (C$5.9 million) in the same period of Fiscal 2012. (MarketWire)
> Central Garden & Pet Company reported financial results for the second quarter ended March 30, 2013. Net sales for the Pet segment for the quarter were $235 million, a gain of 6% over the second quarter of 2012 (Business Wire)
> Henry Schein, Inc. reported financial results for the first quarter of 2013. Global Animal Health sales increased 22% to $639 million. North American Animal Health sales increased 15% to $307 million. (company website)
> PetMed Express, Inc. announced its financial results for the fiscal year ended March 31, 2013. Net sales were $228 million, a decrease of 4% compared to the prior year. Net income for the year was $17.2 million an increase of 3% compared to the prior year. (company website)
> Ridley Inc. reported its financial results for its fiscal third quarter ended March 31, 2013. Ridley’s revenues from continuing operations grew by 6% to $145 million. Net income from continuing operations (net of income tax expense) for the period was $5.7 million compared to $3.7 million last year. (company website)
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COMPANY NEWS RELEASES
> Velcera announced that FidoPharm launched a new VetTrust line of pet health products. The line features 14 products including joint health supplements, ear care, skin and coat care, and multivitamins. VetTrust products are available at Walmart and other retailers. (PRNewswire)
> Ceva Animal Health introduced Feliway wipes, a spot solution to help comfort cats. The single-use disposable wipes are individually sealed and packaged in a box of 12 wipes. (company press release)
> Neogen Corporation announced the development of a new genomic test for beef cattle. Neogen’s new GeneSeek Genomic Profiler (GGP-HD) contributes comprehensive data included in Angus genomic-enhanced expected progeny differences (GE-EPDs), which reveal an animal’s genetic potential well before breeding, as well as the animal’s parentage, and important genetic trait and disease information on the animal. (company press release)
> Bimeda Inc. voluntarily recalled one lot of Calcium Gluconate, one lot of Dextrose 50%, and one lot of Hypertonic Saline, all of which are in the form of injectable fluids. These injectable fluids are being recalled as a precautionary measure; because of departures from customary sterility procedures, sterility cannot be entirely assured. (FDA)
> Luitpold announced that, due to renovations to its factory, supplies of Adequan i.m. are expected to be limited over the coming months. The company expects to resume shipments in early July and August. (company press release)
> The FDA reported that Huvepharma has received five generic drug approvals: Rumensin plus Tylovet 100 (Monensin USP plus tylosin phosphate) for cattle; MGA plus Tylovet 100 (melengestrol acetate plus tylosin phosphate) for heifers; Deccox plus Rumensin plus Tylovet 100 (Decoquinate plus monensin USP plus tylosin phosphate) for cattle; MGA plus Bovatec plus Tylovet 100 (Melengestrol acetate plus lasalocid sodium plus tylosin phosphate) for heifers; and Tilmovet 90 (tilmicosin phosphate) for swine. (Animal Pharm)
> Kinetic Technologies announced the release of EquiShield CK Rinse, an antiseptic solution for topical management of skin conditions formulated with 2% Chlorhexidine Gluconate and 1% Ketoconazole. The company also launched EquiShield IBH Salve, a soothing topical anesthetic salve with antiseptic and anti-inflammatory properties. (company press release)
> AUSTRALIA AGR Partners announced it has acquired a 19.5% stake in Australian feed company Ridley Corporation. AGR purchased the shareholding from investment holding company Guinness Peat Group for A$54 million ($55 million). (Animal Pharm)
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ANIMAL HEALTH NEWS
> US – KENNEL COUGH Cornell University’s Animal Health Diagnostic Center announced the availability of a diagnostic test for canine pneumovirus, a causative agent in kennel cough. The test is part of AHDC’s new canine respiratory panel, which tests for six viruses and two bacteria known to contribute to kennel cough. (Feedstuffs)
> US – CANCER REGISTRY The Texas Veterinary Cancer Registry announced plans to expand nationally, launching the National Veterinary Cancer Registry (NVCR). The National Veterinary Cancer Registry is a national database formed to identify and register pets diagnosed with cancer in order to facilitate and promote medical treatments that lead to advances, higher success rates and cures for cancer in pets and people. (Vet Advantage)
> US – PIG STRESS SYNDROME Scientists at the USDA have found that a defect in a gene called dystrophin is the cause of a newly discovered stress syndrome in pigs. The novel syndrome is different than the classical porcine stress syndrome, which was eliminated from U.S. swine herds years ago. (Vet Advantage – PigProgress.net)
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BRAKKE CONSULTING VIEWPOINT
Some of this week’s financial reports reflect softness in the marketplace during the first quarter. We can probably blame the impact of the mixed spring weather conditions on the purchasing attitudes of the pet owners and producers. As we’ve visited with various companies management the past few days there seems to be optimism for the full year but a quiet concern over the underlying condition of the marketplace.
One area that is raising its head is the impact of generic entries into the market on revenues. These generic introductions and the aggressive sales activities, particularly in the flea/tick/heartworm area, could reduce overall industry revenues if companies are not careful. It appears to us that the marketplace is currently at an unusually high peak of competitiveness. What the industry needs are more new innovative product introductions over the coming months versus lower unit prices.
Have a great weekend!
Ron Brakke
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