***********************************
Brakke Consulting’s
Animal Health News & Notes for July 14, 2023
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
************************************
IN THE NEWS:
Brakke Consulting News
Transactions Seminar
Earnings News
ECO Animal Health
Other News
Builders VC
Chirp
Elanco
Felixvet
GoodVets
Hill’s
Mascotte Health
Numaferm
Nuwa Capital
Performance Livestock Analytics
Wag!
Zoetis (Numaferm)
Zoetis (US President)
Zoetis (PLA)
***************************************
BRAKKE CONSULTING
Transaction Insights: Unlocking the Secrets to Successful Business Deals in Animal Health
New seminar coming August 30-31, 2023 in Kansas City
Early Registration Discount Ends Soon!
Are you seeking to navigate the complex landscape of buying and selling businesses in the animal health and nutrition industry? We are excited to announce the relaunch of our educational due diligence seminar, tailored specifically for animal health professionals.
It’s more than just due diligence – we will help you unlock the secrets to successful deals in animal health. Our comprehensive seminar is designed to equip you with the knowledge, tools, and strategies to make informed decisions and to successfully manage a transaction. Presenters include Bob Jones, Jim Kroman, Randy Freides, and Ron Brakke as well as Damian Burke, Main Street Capital and Mark Stoneman, Armstrong, Teasdale, LLP. The preliminary agenda can be found here.
This Seminar will be held after the KCAHC Animal Health Summit in Kansas City on Wednesday and Thursday, August 30-31. Click here to sign up today and receive a discount.
For more information, contact Amanda McDavid at amcdavid@brakkeconsulting.com or 336.396.3916.
**************************************
EARNINGS NEWS RELEASES
- ECO Animal Health Group pc reported results for the fiscal year ended March 31, 2023. Revenues were GBP 85.3 million ($112 million), a 4% year-over-year increase. Profit before income tax was GBP 4.4 million ($5.8 million), compared to GBP 1.4 million in FY22. (company press release)
*********************************************
COMPANY NEWS RELEASES
- Zoetis and Numaferm, a Germany-based biotech company specialized in the production of pepteins, announced a licensing agreement for the development and production of defined veterinary therapeutics. Financial details were not disclosed. (Yahoo finance)
- Zoetis announced the addition of Ester Banque as Executive Vice President and President, U.S. Operations, for the company, effective July 10, 2023. Most recently, Ester has served as Senior Vice President and General Manager of Bristol Myers-Squibb’s U.S. Hematology & Cell Therapy Business. Before joining Bristol Myers-Squibb, Ester spent 25 years at Novartis. (company press release)
- Performance Livestock Analytics (PLA), a leader in data analytics solutions for livestock producers, announced that it has separated from Zoetis. The newly independent PLA business is led by its original founders, and with financial investment from Builders VC. The PLA team will continue to work closely with Zoetis as a strategic partner to support current clients. (Feedstuffs – subscription)
- Elanco Animal Health Incorporated announced the addition of Microtracer technology to Skycis 100, a feed additive that promotes increased weight gain in growing-finishing swine. Microtracers are small particles that can confirm the presence of Skycis and its active ingredient, narasin, in feed samples. (Feedstuffs – subscription)
- Hill’s Pet Nutrition announced its Science Diet Sensitive Stomach & Skin portfolio is now available with MSC-certified Alaskan Pollock and insect protein. The Innovative Insect Protein is used in the dog recipe only; the Alaskan Pollock is available for both dogs and cats. (PRnewswire)
- Felixvet, an Ireland-based manufacturer of generic pharmaceuticals in the companion animal industry, announced it has selected Briarcliff, a northern suburb of Kansas City, Missouri, for its North American headquarters. (association press release)
- GoodVets announced it has officially opened its 20th hospital, with plans for more than 30 locations by the end of 2023 and more than 50 hospitals by mid-2024. (company press release)
- Mascotte Health announced its emergence from stealth mode with the successful completion of its pilot program through collaboration with a few selected veterinary practices. Mascotte Health offers veterinary clinics tech-enabled support infrastructure solutions such as virtual triage and customer experience. Mascotte Health also disclosed the completion of its oversubscribed $1.2 million pre-seed funding round led by Nuwa Capital. (DVM360)
- Wag! announced the launch of Cat Food Advisor, following the acquisition of Dog Food Advisor. Cat Food Advisor is a comprehensive online resource dedicated to feline nutrition. (Pet Business)
- Chirp, a peer-to-peer mentoring app for early career veterinarians, is finalizing beta testing and will launch in September. Available by voice or video on any mobile device, Chirp allows a veterinarian to immediately connect with an experienced mentor who can walk them through just about any problem they may be facing, from interpreting test results and creating treatment plans to managing time and communicating with clients. Chirp mentors may be general practice or specialty veterinarians, and all general practice mentors have a minimum of 10 years of veterinary practice experience. (company press release)
*********************************************
2023 Animal Health Summit
August 28-29, 2023
Location: Midland Theater | Kansas City, MO
Registration is now opwn for the 2023 Animal Health Summit
Register today! The Animal Health Summit features two days of networking. 1:1 Business partnering, industry thought leaders, panel discussions, speakers, and emerging company presentations. Learn more.
*********************************************
ANIMAL HEALTH STOCK PRICE TRACKER
***********************************
ANIMAL HEALTH NEWS
- US – ANTIMICROBIAL RESISTANCE The USDA’s Animal and Plant Health Inspection Service (APHIS) announced 12 awards totaling more than $3.2 million in cooperative agreement funding to create antimicrobial resistance (AMR) dashboards. The awards will help advance scientific knowledge around AMR through partnerships with the National Association of State Departments of Agriculture (NASDA) and eight universities. Once created, APHIS will use the dashboards to monitor trends in AMR patterns; detect emerging resistance profiles; and better understand relationships between antimicrobial use, animal health management practices, and AMR. (Food Safety – subscription)
************************************
BRAKKE CONSULTING VIEWPOINT
Recent announcements about some key leadership positions in animal health caused me to reflect on how well our industry is doing developing new leaders.
When talent is brought in from ‘outside the shop’, or even outside the industry, it raises the question: Do companies today have strong developmental programs for developing talent that leads to a strong succession capabilities?
Many careers in the past were successful more by ‘default than design’ and maybe we as an industry could do a better job in this area. When leadership roles are filled from ‘non-industry’ persons, the reasons can vary, but generally are reflecting a need of change or a perceived lack of talent for the role. But the message to some may be: ‘that there are limited career paths for me at this company.’
It is critical to understand the process of career development which is a combination of formal training and well thought out career development steps. Another way of thinking is the ‘horizontal’ development of a person, through thoughtful application and attendance to formal education programs to augment the professional portfolio of skills and knowledge. And the ‘vertical’ development of a person, providing the individual with professional challenges through time that push the person both from a scope of responsibility(sales volume, direct reports, etc.) and even a cultural challenge, working in different cultures and possibly living abroad while taking on the professional role.
All of this, however, requires a two way commitment: both the company and the employee. And my advice is to take charge of your own career!
Paul Casady
***********************************
YOUR VIEW
Last week, we asked whether you thought other poultry producers would follow Tyson Foods’ new “No Antibiotics Important to Human Medicine” (NAIHM) labeling to accommodate re-introducing the use of certain antibiotics such as ionophores, in place of the “No Antibiotics Ever” (NAE) label. 28% thought that all other producers would follow Tyson, and 6% thought they would not; but the majority thought that it would be a mixed bag.
This week
English (United States) 
Portuguese