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Brakke Consulting’s
Animal Health News & Notes for July 15, 2022
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Other News
Alianza Petsalud
Bardel Bows
Blue Heron Consulting
Boss Pet Products
Centenary Thurles
CP-Pharma
Creso Pharma
Dechra (Zimeta)
Dechra (private placement)
Elanco
Enterprise Ireland
Eurofins Scientific
Evonik
Indical Bioscience
Investbridge Capital
Kemin Industries
Micron Agritech
Orivet Genetic Pet Care
Pepette
PetDesk
Providence Animal Health Korea
Ranchbot
Rarebreed Veterinary Partners
Revelstoke Capital Partners
Vetoquinol
VetPartners
Vimian Group
Virbac
The Yield Lab Europe
Zoetis
Zomedica
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COMPANY NEWS RELEASES
- Zoetis announced the introduction of Poulvac Procerta HVT-IBD-ND, a recombinant vector poultry vaccine that provides early, robust protection against Marek’s, infectious bursal and Newcastle disease viruses with one dose. (WattAgNet)
- Virbac announced the launch of Tenotryl (generic enrofloxacin) injectable solution for use in cattle and swine. (company press release)
- Vetoquinol USA announced the launch of Vetoquinol Rehabilitation Business Solution (VeRBS), a new program to help veterinary clinics jump-start rehabilitation services. The program offers a two-day, on-site course with lectures, hands-on labs, and business planning services for up to 10 clinic staff members. (company press release)
- Dechra Veterinary Products announced it has acquired Zimeta (dipyrone injection) from Elanco Animal Health. Dechra has been distributing Zimeta in the US since January 2021, and veterinarians will not experience any change in how they order the product. Financial terms were not disclosed. (company press release)
- Dechra Pharmaceuticals announced it has launched a private placement of EUR 50.0 million seven-year and EUR 100.0 million ten-year new senior unsecured notes. (com)
- Kemin Industries announced the launch of Enterosure, a proprietary blend of probiotic Bacillus strains, to control the growth of pathogenic bacteria in poultry and livestock. (Feedstuffs – subscription)
- Zomedica Corp. announced it is expanding its manufacturing and distribution facility in Roswell Georgia, adding 12,400 sq. ft.to its existing facilities. (yahoo finance)
- Indical Bioscience, part of the Vimian Group, announced that it has entered a partnership with Evonik to develop and expand precision monitoring solutions in poultry through the ScreenFloX novel qPCR assay service. (ThePoultrySite)
- Orivet Genetic Pet Care announced a collaboration with Eurofins Scientific, taking Orivet’s services to Europe and other international markets. The two firms will work together to identify and sequence microbial DNA material from animals. (IHS Markit Connect – subscription)
- PetDesk announced a new strategic partnership with Blue Heron Consulting to help clinics enhance client experiences, build sustainable practices, and improve the lives of veterinary professionals so quality pet care is elevated and prioritized. (PRweb)
- Boss Pet Products, Inc., a subsidiary of Boss Holdings, Inc., has acquired the business assets of pet grooming bow designer and manufacturer Bardel Bows. Financial terms were not disclosed. (Pet Business)
- Revelstoke Capital Partners announced that it has completed fundraising for Revelstoke EPIC Fund III with $376 million of commitments to support the growth of Rarebreed Veterinary Partners, which Revelstoke recapitalized in December 2021. (Prnewswire)
- Australia-based Ranchbot announced it is rolling out its water monitoring technology in the US. The company’s water level sensor provides remote monitoring and reporting of real-time issues, events and abnormalities from water tanks on ranches and farms. The sensor is self-installable and immediately operational. (IHS Markit Connect – subscription)
- GERMANY CP-Pharma announced that the Committee for Veterinary Medicinal Products of the European Union recently adopted a positive opinion of Coxatab (generic firocoxib) for the relief of pain and inflammation associated with osteoarthritis, and for the relief of post-operative pain and inflammation. (IHS Markit Connect – subscription)
- KOREA Creso Pharma announced it has signed a letter of intent with Providence Animal Health Korea Ltd to work towards the registration, importation and commercialization of Creso Pharma’s anibidiol products targeting pet health in South Korea. (Proactiveinestors.com)
- FRANCE Pepette, a Paris-based fresh pet food startup, announced it has raised EUR 6 million and is planning to open a new 1,000 sq. m. facility. Founded in 2019, Pepette offers fresh subscription meals. (Globalpets)
- SPAIN VetPartners announced that Spain-based Alianza Petsalud, which has 21 small animal practices, as well as the Vetersalud business, has joined the veterinary practice group. Based in the UK, VetPartners currently has more than 600 locations across seven European countries, as well as complementary businesses. Financial terms were not disclosed. (Insidermedia)
- IRELAND Micron Agritech announced it has raised EUR 1.5 million ($1.52 million) from The Yield Lab Europe, Investbridge Capital, Centenary Thurles and Enterprise Ireland. The firm – a spin out from Technological University Dublin that was formed in 2019 – has developed a pen-side testing kit that allows users to rapidly detect parasitic infections in cattle. (IHS Markit Connect – subscription)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- WORLD – ANTIMICROBIAL USE A new report by the World Organization for Animal Health (WOAH) has shown positive trends in combating antimicrobial resistance (AMR). The report found use of antimicrobials in animals declined 27% between 2016 and 2018, falling to 88mg/kg of biomass (based on data reported by 72 participating countries). The use of antibiotics to promote growth in animals has also seen a similar declining trend, with the practice phased out in 69% of the participating countries. (IHS Markit Connect – subscription)
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BRAKKE CONSULTING VIEWPOINT
We have had a few consulting projects lately where we reviewed how the top global animal health companies have grown. So when I saw an article from McKinsey entitled, “Choosing to grow: The leader’s blueprint”, I was curious to see what the world’s largest consulting company had to say.
The authors use data from their research to describe how growth leaders, those that purposely choose to grow, are different than those that just pay lip service to growth. Their blueprint has three parts: (1) Set an aspirational mindset and culture, (2) Activate pathways, and (3) Execute with excellence. Even the authors thought these are timeless and holistic.
The Activate Pathways part has three parts, which made me think of the fast-growing animal health companies. They are (1) Expand the core, (2) Innovate into adjacencies and (3) Ignite breakout businesses. Successful examples of these in animal health can be seen, like Zoetis growing its core parasiticide and dermatology businesses and moving into diagnostics. Or Merck AH’s innovative step into the animal digital technology world.
The authors conclude, “Making the conscious choice to grow creates powerful momentum that orients the entire business toward that goal. The clarity of purpose and vision that comes from choice is what helps leaders and their teams believe in the seemingly impossible and make it happen.”
Bob Jones
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YOUR VIEW
Last week, we asked about the current economic environment’s impact on your business’s cash flow. An equal portion of respondents (30% each) said that cash flow had increased or is about the same. A little over 20% said that cash flow had decreased by less than 10% and a little over 20% said cash flow decreased by more than 10%.
This week
This week, let’s see what you think how prevalent growth is among companies. According to McKinsey, about a quarter of companies don’t grow at all.
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