Animal Health News & Notes for November 24, 2021

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Brakke Consulting’s
Animal Health News & Notes for November 24, 2021
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:

Earnings News
Central Garden & Pet
J.M. Smuckers

Other News
Alpine Investors
Antelope
BioTech Foods
Bocce’s Bakery
Caitec
Fairchild Capital Partners
Fuzzy
Hendrix Genetics
Icon Ventures
IDEXX
INNOTERE
JBS
Labopat
Med-Pharmex
MicroSynbiotiX
NPM Capital
Nuzoa
Ouro Fino Saúde Animal
Paine Schwartz Partners
Regenera Medicina Veterinária Avançada
Royal DSM
Sundew
TheraVet
Vetoquinol
VetPet Box

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COMPANY EARNINGS RELEASES

• Central Garden & Pet Company announced results for its fiscal year 2021 ended September 25, 2021. Net sales for the Pet segment increased 13% to $1.9 billion compared to a year ago. (company press release)
• The M. Smucker Co. announced results for the second quarter ended October 31, 2021, of its 2022 fiscal year. Sales for US Retail Pet Foods were $702 million, a decrease of $7 million; excluding $51 million of noncomparable net sales in the prior year related to the divested Natural Balance business, net sales increased 7%. Segment profit was $99.6 million, a decline of 20%. (company website)

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COMPANY NEWS RELEASES

• IDEXX Laboratories announced the launch of the Alertys OnFarm Pregnancy Test for cattle. The test uses whole blood (EDTA) sampling, so no equipment needed; provides results in minutes; and finds open animals early with 99.7% accuracy. (Bovinevetonline.com)
  
• A federal court has enjoined Med-Pharmex from distributing adulterated sterile animal drugs in violation of the Federal Food, Drug and Cosmetic Act (FDCA). In a complaint filed in 2020, the United States alleged that multiple inspections by the FDA repeatedly showed that Med-Pharmex Inc. manufactured and distributed animal drugs under conditions that fell short of the minimum regulatory requirements to ensure safety and quality, including a failure to maintain sterility. (FDA)
  
• TheraVet announced an exclusive worldwide distribution agreement with INNOTERE, a German developer of bone biomaterials, for 2 new exclusive lines of biomaterials: a first-in-kind ready-to-use injectable calcium phosphate-based bone cement paste; and biosynthetic granules of ultra-fine size. TheraVet also adds to its portfolio 3D-bioprinted calcium-phosphate-based bone substitutes. the agreement also includes plans to jointly develop new-generation bone substitutes. (company press release)
  
• Caitec, a portfolio company of Fairchild Capital Partners, announced it has acquired VetPet Box, a pet subscription box company that sends veterinary-approved toys, treats, wellness products and pet care education materials to North American pet owners. Financial terms were not disclosed. (Pet Product News)
• Fuzzy, a digital pet care company, announced it has raised $44 million dollars. The round was led by Icon Ventures; the company also secured investment from owners of veterinary clinic groups in US, UK and Germany. Fuzzy provides 24/7 live chat and telehealth, ship-to-home prescriptions, vet-curated items in its e-commerce marketplace, educational content, and programs for nutrition, training, and obedience. (Globenewswire)
• Private equity firm Alpine Investors announced it has launched a pet-focused omnichannel platform, Antelope. The private equity will invest between $100 million and $150 million in equity to fund Antelope’s growth and strategy. As its first move, Antelope has acquired Bocce’s Bakery, a natural, limited-ingredient pet treat company whose brand is sold in the pet specialty channel, grocery and big box retailers. (Petfoodprocessing.com)
• EU Vetoquinol announced that the European Commission has granted marketing authorization for Felpreva (tigolaner/emodepside/praziquantel) spot-on for prevention and treatment of mixed parasitic infestations/infections in cats. It is anticipated that Felpreva will be made available to veterinarians across Europe in early 2022. (Business Wire)
• BRAZIL Ouro Fino Saúde Animal announced it has agreed to purchase Regenera Medicina Veterinária Avançada, the first company to market stem cell products for veterinary applications in Brazil, for R$20 million ($3.6 million). (IHS Markit Connect)
• NETHERLANDS Paine Schwartz Partners and unnamed co-investors announced they have acquired a position in Hendrix Genetics from NPM Capital. The acquisition will give Paine Schwartz Food Chain Fund V 50% ownership in Hendrix; the  firm’s co-founders will retain a 50% stake in the company. (IHS Markit Connect)
• EU Royal DSM announced that it has received a positive European Food Safety Agency (EFSA) opinion for the use of its novel methane-reducing feed additive for ruminants, Bovaer, in the European Union. (Thecattlesite.com)
• SPAIN JBS announced it has entered into an agreement to acquire control of Spanish company BioTech Foods. The deal signals the company’s entry nto the cultivated protein market, which consists of producing food from animal cells and includes investment in building a new plant in Spain to scale up production. Along with the acquisition, JBS is also announcing the setting up of Brazil’s first cultivated protein research & development (R&D) center. In all, JBS will channel US$ 100 million to the two projects. (Feedstuffs)
• SPAIN Nuzoa, the leading national distributor in Spain, announced an agreement to acquire Labopat, which offers diagnostic services for animal pathology nationwide. The joint estimated sales of both companies nationwide will be above EUR 125 million ($140 million) at the end of this year. Nuzoa has acquired nine companies in the past 13 months. (company press release)

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ANIMAL HEALTH NEWS

• GERMANY – ASF African swine fever (ASF) has spread to a third German state, with a case confirmed on a pig farm in Mecklenburg-Western Pomerania. Authorities are now investigating how ASF reached the farm, which lies far from previously affected areas – most of which were located close to the border with Poland. It is also notable the newly affected region has not yet reported any cases in wild boar. This suggests the disease may not have reached the farm via wild animals, but through some other mode of transmission. (IHS Markit Connect)
• US – CEM The American Association of Equine Practitioners (AAEP) have released comprehensive guidelines now available on the AAEP’s website to assist veterinarians with identification, diagnosis and control of contagious equine metritis (CEM). This is a non-systemic venereal disease of equines that causes short-term infertility in mares and rare abortion. (equimanagement.com)

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BRAKKE CONSULTING VIEWPOINT
This is a short work week for most of us in the United States, and the beginning of the holiday season for all of us. We all have a lot to be thankful for, especially the people in our industry that provide for the health of our companion animals and feed our nation and the world. We are no doubt all grateful to be able to more safely gather together with family and friends this year.

We at Brakke Consulting wish a Happy Thanksgiving to all our clients and newsletter readers.

Bob Jones
Ron Brakke
Joel Adamson
Paul Casady
Cary Christensen
Lynn Fondon
Randy Freides
Jim Kroman
Jay Lockhart
John Mannhaupt
Amanda McDavid
Mike McGinley
Jeff Santosuosso
Kevin Scott
Jishu Shi
Yuki Ujimasa
John Volk