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Brakke Consulting’s
Animal Health News & Notes for October 25, 2013

Copyright © Brakke Consulting, Inc.
Editor: Lynn Fondon DVM MBA
Brakke Consulting news
earnings news
PetMed Express
VCA Antech
other news
Advanced Food Technologies
Animal Supply Company
Desert Veterinary Concepts
Elf Pet Products
MAI Animal Health
Pet Food Wholesale
RFG Distributing

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> Eli Lilly and Company announced financial results for the third quarter of 2013. Worldwide sales of animal health company Elanco were $530 million, an increase of 11% compared with the third quarter of 2012. (company website)
> Vétoquinol reported results for the third quarter of 2013. The company generated sales of EUR 74 million ($100 million) in the third quarter, unchanged based on reported data, and a 4.4% increase at constant exchange rates. (company website)
> IDEXX Laboratories, Inc. reported that revenues for the third quarter of 2013 increased 7% to $338 million. Net income was $45.7 million, an increase of 7%. Companion Animal Group (“CAG”) revenues for the third quarter of 2013 were $284 million, an increase of 8%. (company website)
> Abaxis, Inc. reported financial results for the second fiscal quarter ended September 30, 2013. Total sales in the veterinary market were $38 million, up 8% over last year’s comparable quarter. (company website) 
> VCA Antech, Inc. reported financial results for the third quarter of 2013. Revenue increased 7% to $464 million. Net income increased 18% to $41.9 million. Animal Hospital revenue increased 8% to $369 million; Laboratory revenue increased 6% to $86 million. (company press release)
> Colgate-Palmolive Company reported results for the third quarter of 2013. Hill’s net sales increased 3% to $545 million for the quarter. (company website)
> PetMed Express, Inc. announced financial results for its second fiscal quarter ended September 30, 2013. Net sales for the quarter ended September 30, 2013 were $61 million, an increase of 4% compared to the comparable period in the prior year. Net income was $4.2 million for the quarter compared to net income of $4.0 million for the comparable quarter in the prior year. (company website)
> Zoetis Inc. announced the completion of an agreement to purchase substantially all of the assets of Advanced Food Technologies LLC, a company that provides innovative food safety and animal care products to meat and poultry processing customers. Financial terms were not disclosed. ( 
> Bimeda announced the launch of MeloxiMed (meloxicam) Injection. The product is indicated for the control of pain and inflammation associated with osteoarthritis in dogs and control of postoperative pain in cats. (company press release)
> MAI Animal Health introduced the first product in the line of nutritional supplements for transition dairy cows; new Transition Calcium Boluses. Transition Calcium Boluses deliver immediate and sustained calcium to combat milk fever and provide metabolic support during freshening. (Bovine Vet Online) 
> PuriCore announced the launch of NovaZo Animal Health Wound Irrigation Solution. Based on PuriCore’s Vashe Wound Therapy technology, NovaZo is a safe and effective wound cleanser for use on companion and large animals. Currently, NovaZo is available through veterinarians in the US and will be available internationally later in 2013. ( 
> Desert Veterinary Concepts, LLC, announced the launch of Healthy Cat Litter. Healthy Cat Litter has a patent-pending clumping formulation containing Zeolite, a naturally occurring volcanic- material. (company press release) 
> Animal Supply Company announced it has completed three acquisitions since July: CA-based Pet Food Wholesale, Minnesota based RFG Distributing, Inc, and Florida-based Elf Pet Products. Financial terms were not disclosed. Animal Supply now covers more than 40 states, represents over 300 pet product manufacturers and delivers to more than 9,000 pet retail stores. (Business Wire)  
> US – JERKY TREATS  The FDA is reaching out to licensed veterinarians and pet owners across the country to gather information about illnesses related to jerky pet treats. Illness in 3,600 dogs and 10 cats in the US have been reported since 2007; approximately 580 of those pets have died. To date, FDA’s Center for Veterinary Medicine (CVM) has conducted more than 1,200 tests, visited jerky pet treat manufacturers in China and collaborated with colleagues in academia, industry, state labs and foreign governments; yet the exact cause of the illnesses remains elusive. (FDA)
> US – PEDV  Veterinary researchers at the Virginia-Maryland Regional College of Veterinary Medicine report that the three strains of porcine epidemic diarrhea virus (PEDV) ravaging US swine populations originated in China, but it remains unclear how the virus entered the US. Although reporting is not required, as of Oct. 6, 18 states had documented 768 cases of the virus, each of which may represent thousands of unreported affected animals. (AVMA SmartBrief – Chicago Tribune)
> US – FOOD AND FEED SAFETY  The FDA has issued a proposed rule under the FDA Food Safety Modernization Act (FSMA) aimed at improving the safety of food for animals. The proposed rule would require makers of animal feed and pet food to be sold in the US to develop a formal plan and put into place procedures to prevent foodborne illness. The rule would also require them to have plans for correcting any problems that arise. The proposed rule would also require animal food facilities to, for the first time, follow proposed current good manufacturing practices that address areas such as sanitation. For more information, visit (Feedstuffs)

The last quarter financial reports from the companies reporting this past week is encouraging. There were some impressive gains during the last quarter. If future reports are similar, the industry may be benefiting from a slowly recovering economy. Companion animal product sales in all channels seem to recovering from reduced activity early in the year. The food animal sector continues to benefit from strong cattle prices that take pricing pressure off of pork and poultry. We could be in for a strong fourth quarter!!

Most companies are now in the middle of the 2014 budgeting process and caution seems to be in the air; or is that just hedging by the sales and marketing teams? Be sure to have several line items in the budget next year for consulting!

Have a great weekend and, and if you’re in the US, a safe Halloween!

Ron Brakke

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