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Brakke Consulting’s
Animal Health News & Notes for August 16, 2013
Copyright © Brakke Consulting, Inc.
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting news
transaction assistance
earnings news
Aratana Therapeutics
Boehringer Ingelheim
ImmuCell
other news
Animal Health International
Animal Reference Pathology
Gardiner Smith Laboratories
Novartis
P&G Pet Care
Pathway Therapeutics
TyraTech
VetDC
Virbac
Zoetis
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2013 KC Animal Health Corridor Homecoming Dinner
Monday, August 26, 2013
Kansas City Convention Center
Connect with 750 animal health industry professionals and join the Corridor in honoring this year’s Iron Paw Award recipient, Dr. Jim Nave. This year’s entertainment features Animal Planet personality Victoria Stilwell, champion for positive pet training and the human/animal bond.
The event will be held on Monday, August 26 from 5 – 9 p.m. at the Kansas City Convention Center Grand Ballroom.
Click here for full details and registration.
www.kcanimalhealth.com
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COMPANY EARNINGS RELEASES
> Boehringer Ingelheim reported financial results for the first half of 2013. Animal Health revenues were EUR 526 million ($684 million), unchanged from the first six months of the prior year (an increase of 1.5% when adjusted for currency effects). Swine vaccines from the Ingelvac product family were once again the main growth driver. (company website)
> ImmuCell Corporation announced the results of its operations for the second quarter of 2013. Product sales increased by 16% to $1.37 million in comparison to the same period in 2012. Net income was $6,000 during the quarter in comparison to net income of $15,000 during the same period in 2012. (company press release)
> Aratana Therapeutics, Inc. announced its financial results for the second quarter of 2013. As a development stage therapeutics company, the Company had no revenue for the quarter. The Company reported a net loss of ($4.2 million), compared with a net loss of ($3.1 million) for the quarter ended June 30, 2012. The Company expects to end the year with between $45 and $50 million in cash and cash equivalents, which the Company expects to be sufficient to fund operations to at least the end of 2015. (company website)
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COMPANY NEWS RELEASES
> Zoetis announced the licensure of Bovi-Shield Gold One Shot, giving producers protection for at least 279 days against infectious bovine rhinotracheitis (IBR) virus and bovine viral diarrhea (BVD) Types 1 and 2 viruses and Mannheimia (Pasteurella) haemolytica in one convenient dose. (Cattlenetwork.com)
> TyraTech Inc. announced that it has entered into a global distribution partnership with Novartis Animal Health to distribute TyraTech’s biocide products worldwide. TyraTech’s biocide products will be used in production animal facilities and premises to control flies, cockroaches and other insects. Financial terms were not disclosed. (NASDAQ)
> VetDC, Inc., announced that the company has acquired from Pathway Therapeutics, Inc. all rights to Pathway’s investigational class of anti-cancer molecules. The lead molecule, renamed VDC-597, has promising oral drug properties and a safety profile in dogs that make it a highly attractive drug candidate for use as both a single agent and in combination therapy to treat a number of dog cancers. Financial terms were not disclosed. (company press release)
> The Procter & Gamble Company (P&G) announced a voluntary recall of specific lots of dry pet food because they have the potential to be contaminated with Salmonella. No Salmonella-related illnesses have been reported to date in association with these product lots. The brands recalled include Eukanuba dry dog and cat foods, and Iams dry dog foods. (FDA) top
> Animal Health International, Inc. officially opened its newest distribution center in Sioux Falls, South Dakota. Sioux Falls facility will service the needs of customers in North Dakota, South Dakota, Nebraska, Iowa and Minnesota. (MinnesotaFarmGuide.com)
> Gardiner Smith Laboratories announced has acquired Animal Reference Pathology (ARP), a division of Arup Laboratories at the University of Utah. ARP provides pathology services to the US veterinary community with review and diagnosis by board-certified veterinary pathologists. Financial terms were not disclosed. (Animal Pharm)
> UK Virbac Animal Health announced that its Gudair vaccine product will be launched in the UK after receiving a limited marketing authorization. The vaccine is indicated for the active immunization of sheep and goats against Mycobacterium avium subspecies paratuberculosis, the causal organism for Johne’s disease. (Zenopa.com)
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ANIMAL HEALTH NEWS
> US – BOVINE VIRUS RESEARCH A new virus that causes neurologic symptoms reminiscent of bovine spongiform encephalopathy (BSE) has been identified and its genome sequenced by a team of researchers including scientists at the University of California-Davis. While this particular new virus is unlikely to pose a threat to human health or the food supply, the new findings are “critically important because they provide researchers with a relatively simple diagnostic tool that can reassure both ranchers and consumers” by ruling out BSE as the cause of neurologic symptoms when they appear in cattle. (Feedstuffs)
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BRAKKE CONSULTING, INC.
TRANSACTION ASSISTANCE
Let Brakke Consulting provide assistance for all your animal health transactions.
In the past few years, Brakke Consulting has been the finder of record, agent of record or consultant for a number of successfully completed projects. We assist with valuations and provide due diligence on confidential transactions as well as offering executive counsel on a number of potential transactions.
Brakke Consulting has the experience, insight, ability and contacts to provide clients with the highest quality services in the animal health, pet, and veterinary markets. Please contact any of our offices for a confidential consultation.
www.BrakkeConsulting.com
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BRAKKE CONSULTING VIEWPOINT
The news this week reflects that we’re in the dog days of summer with a reduced number of stories and activities. Those companies reporting financial results for the quarter or first half of the year still reflect a challenging market environment. The management groups we’ve interfaced with recently all report a conservative approach for the balance of the year. We continue to believe that 2013 will show little revenue growth.
Earlier this week we attended the “Pet Healthcare Industry Summit 2013” sponsored and organized by Banfield Pet Hospital. This year’s meeting was well attended by manufacturers, distributors and several professional organizations. Tony Ueber, CEO of Banfield, and the Banfield management team did an excellent job of organizing the program and the meeting to the benefit of all in attendance. The discussions on the “Supply and Demand in the Veterinary Profession” made for an interesting program the first afternoon. The second day focused on “Shaping the Future of Veterinary Medicine” with an excellent futurist speaker in Daniel Burrus, who provided some interesting trends and insights that we must all come to grips with if we are to be successful in a rapidly changing world.
Have a great weekend!!
Ron Brakke
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