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Brakke Consulting’s
Animal Health News & Notes for December 9, 2022
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
2023 Industry Overview – register now
US Flea Control & Heartworm Markets report – now available
Earnings News
Chewy
Other News
Adopt a Pet
ALTIUS
Bionote USA
Blend VetMed
Cargill
DaySmart Vet
Hippo Manager
Increvet
JBS USA
LifeLearn Animal Health
Nationwide
PetMart
PIC
Pictor
Ralco
Rarebreed Veterinary Partners
Shepherd
SwineTech
Torigen Pharmaceuticals
TriOak Foods
United Petfood
VerticalVet
Vytelle
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BRAKKE CONSULTING
2022 US FLEA CONTROL AND HEARTWORM MARKETS REPORT
NOW AVAILABLE
Are you on top of the trends in the largest market segment in companion animal health? Brakke Consulting has the answers in our 2022 report on the US Flea Control and Heartworm Markets.
The report includes valuable information on the US market for small animal parasiticides including:
- Product descriptions, prices (veterinarian cost and online pricing), and sales for the leading veterinary flea, tick and heartworm products
- an overview of the veterinary and OTC flea control markets
- discussion of new product launches
- 2022 survey of 340+ veterinarians
- 2022 survey of 500 pet owners
The report on the US Flea Control & Heartworm Markets is available for a purchase price of $7,995. Please contact Dr. Lynn Fondon at 336-396-3916 or lfondon@brakkeconsulting.com to pre-order the report, or for more information visit our website.
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EARNINGS NEWS RELEASES
- Chewy announced financial results for the third quarter of fiscal year 2022 ended October 30, 2022. Net sales were $2.53 billion, a year-over-year increase of 14.5%. Net income was $2.3 million compared to a net loss of $(32,241) million in the prior-year quarter. (company press release)
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BRAKKE CONSULTING
Announcing the 2023 Brakke Industry Overview
Presented at VMX: Monday, January 16th, 2-4 pm, Hyatt Regency, Orlando N
Presented at WVC: Monday, February 20th, 2-4 pm, Four Seasons Hotel, Acacia 1
Come join us at Brakke Consulting’s annual Industry Overview presented at VMX and WVC next year. Key topics and presenters include:
- Industry and top global company performance, presented by Bob Jones
- Continuing consolidation of and labor shortages in vet practices, including their response to inflation, presented by John Volk
- A closer look at pet pharmacy consumerization and how we can all thrive in this new era, presented by Candise Goodwin
- Trends, challenges, and opportunities facing animal health companies in finding talent in today’s business environment, presented by Jeff Santosuosso
Also, moderated by Paul Casady, a panel of industry leaders will discuss their views on the subject of “Managing Animal Health Companies in Times of Uncertainty”. Confirmed speakers are VMX are:
- Kurt Green, President and CEO, Vetsource
- Kevin Pohlman, President, Animal Health, Patterson Companies
To learn more about and sign up for the Industry Overview, click here. You can also email Amanda McDavid or call us at 336-396-3916.
www.BrakkeConsulting.com
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COMPANY NEWS RELEASES
- The FDA announced it has approved Increvet‘s Bexacat (bexagliflozin tablets), the first oral new animal drug to improve glycemic control in otherwise healthy cats with diabetes mellitus not previously treated with insulin. (FDA)
- Torigen Pharmaceuticals, Inc. announced that it has entered into a Preferred Partnership Agreement with VerticalVet, LLC to provide their 2,000+ clinic Group Purchasing Organization with access to Torigen’s Experimental Autologous Prescription Product. (Streetinsider)
- Bionote USA announced it has added in-clinic Troponin I (TnI) in-vitro diagnostic test kits to its Vcheck line of biomarker tests and immunoassay analyzers. Troponin I is a marker of cardiac damage in dogs and cats. (Vet Advantage)
- Ralco announced the expansion of their poultry line with Essential Dry XP, a litter treatment for targeted ammonia control. Essential Dry XP contains diatomaceous earth (DE), yucca schidigera and patented essential oils and is OMRI Listed for organic production. (company press release)
- Vytelle announced the relocation of their global headquarters from Hermiston, Oregon to Lenexa, Kansas effective immediately. (company press release)
- Nationwide and the pet adoption website Adopt a Pet are partnering to educate new pet owners and potential adopters about the role pet health insurance can play in managing the lifetime costs associated with pet ownership. Nationwide’s veterinary analytics team will also use its trove of policy and claims data to deliver personalized pet health insights to shelters and adopters based on breed, age and other factors. (Vet Advantage)
- Rarebreed Veterinary Partners announced a partnership with Blend VetMed, a veterinary hospital certification program designed to train veterinary teams in diversity, equity, inclusion, and belonging (DEIB). (Globenewswire)
- PIC announced it has made a strategic minority investment in SwineTech, a farm management solutions company. As part of the investment, PIC and SwineTech will develop a strategic relationship to explore and advance the continued development of innovative products and approaches for improving the predictability and efficiency of swine production. (Feedstuffs – subscription)
- LifeLearn Animal Health has announced that ClientEd, the pet health education library that supports efficient client education for veterinary clinics, has further expanded its integrations with leading practice management systems. ClientEd is now integrated with DaySmart Vet, Hippo Manager, and Shepherd, with more integrations to follow. (PRweb)
- JBS USA announced it has reached an agreement to acquire certain assets from TriOak Foods, a Midwest-based pork producer, for an undisclosed amount. JBS USA has been the exclusive customer of TriOak market hogs since 2017. (Feedstuffs – subscription)
- EU United Petfood announced its acquisition of two dry pet food production facilities from Cargill in Poland and Hungary. Financial terms were not disclosed. (Petfood Processing)
- NEW ZEALAND Pictor announced a funding round to help accelerate pipeline product development projects along with market development activities within Australia/New Zealand, the US and Europe for its Human Health and Animal Health portfolios. Its Animal Health business is poised to launch two tests in Q2, 2023: The PictArray Mycoplasma bovis ( bovis) and PictArray Johne’s Disease test. (Biospace.com)
- ROMANIA ALTIUS announced that it has acquired a 60% majority stake in Romanian online retailer PetMart. PetMart will continue to manage the day-to-day of the platform. (Globalpets)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – MUMS GRANTS The FDA has opened a new period for applications for grants to support the development and potential approval or conditional approval of new animal drugs intended to treat uncommon diseases (minor uses) in major species (horses, dogs, cats, cattle, pigs, turkeys and chickens) or to treat minor species (MUMS drugs). This is Notice of Funding Opportunity (NOFO) Announcement Number PAR-21-179. The due date to submit an optional Letter of Intent to apply for a grant is December 17, 2022, and applications must be submitted by February 3, 2023, through www.grants.gov or the NIH ASSIST system. (FDA)
- US – BED BUG RESEARCH According to a study by the North Carolina State University College of Veterinary Medicine, the anti-parasitic drugs fluralaner and ivermectin showed efficacy in killing bed bugs. Researchers tested the drugs in a poultry setting. (Todays Veterinary Business
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BRAKKE CONSULTING VIEWPOINT
Although the market has rebounded substantially from 2022 lows, most animal health stocks are lagging the broader market. Perhaps some animal health companies were enjoying uncommonly high values at the end of 2021. Or perhaps investors are not as optimistic about the animal health market as they were a year ago. That could change. Leading economists are predicting a recession starting in 2023. The veterinary market tends to fare well in the face of recession. For example, during the Great Recession of 2007-2009, revenues of veterinary practices held up much better than other sectors of the economy (e.g. restaurants, automobiles). That could bode well for the companies that supply products and services to veterinarians, pet owners and livestock producers.
At the Brakke Industry Overview to be presented at the VMX and WVC veterinary conferences, you can learn about issues driving industry performance, including results of a new survey among veterinarians regarding their expectations for 2023. A panel of leading industry executives will share their insights as well.
We hope to see you there.
John Volk
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YOUR VIEW
Last week we asked what type of protein was on your Thanksgiving menu. 50% served turkey, and another 25% served multiple meats (turkey and/or beef and/or ham). 10% served something else.
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