Animal Health News & Notes for May 17, 2024

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Brakke Consulting’s
Animal Health News & Notes for May 17, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Animal Health Jobs

Earnings News
ImmuCell
Wag! Group
Zomedica

/other News
Ainos
ArkeaBio
Bova Group
Breakthrough Energy Ventures
The Bridge Club
Cronus Pharma
Curative Sound
Esaote North America
Hill’s
PBC BioVet
PetSafe
Purina
Stokes Pharmacy
Vetoquinol
VetSkribe

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Animal Health Jobs

With today’s tight competition for top animal health talent, you need every advantage to attract the best people. There’s a reason Animal Health Jobs is the premier job board for the animal health and animal nutrition industry. With our tiered packages, you choose the level of service that’s right for your company. We accept roles across animal health, in marketing, business development, communications, technical services, sales, R&D and more.

We accept roles across animal health, in marketing, business development, communications, technical services, sales, R&D and more. Whether you need a cat, dog, horse, pig, cow or poultry person, you’ll find the best ones here.

If you need top talent, there’s no time to wait. Register your company or call us at 1-252-203-0033.

www.animalhealthjobs.com

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EARNINGS NEWS RELEASES

• ImmuCell Corporation announced its unaudited financial results for the first quarter of 2024. Product sales increased by 111% to $7.3 million. Net loss was $(438,000) in comparison to a net loss of $(2.3) million for the three-month period ended March 31, 202 (company press release)
• Zomedica reported consolidated financial results for the first quarter of 2024. Revenue was $6.3 million, an increase of 14%. Net loss was $(9.2) million, compared to a net loss of $(6.4) million for the three months ended March 31, 2023. (seekingalpha)
• Wag! Group announced financial results for the first quarter of 2024. Revenues increased 13% to $23.2 million. Net loss was $(4.2) million, compared to $(3.8) million in the first quarter of 2023. (myvetcandy.com)

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2024 Animal Health Summit 
August 26-27, 2024
Location: Midland Theatre | Kansas City, MO

Registration is now open for the 2024 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.

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COMPANY NEWS RELEASES

• The FDA announced conditional approval for Vetoquinol USA, Inc.’s UpCard-CA1 (torsemide oral solution) for use with concurrent therapy with pimobendan, spironolactone, and an angiotensin-converting enzyme (ACE) inhibitor for the management of pulmonary edema (fluid build-up in lungs) in dogs with congestive heart failure. (FDA)
• The FDA announced it has approved Cronus Pharma Specialities’ EnroPro Silver Otic (generic enrofloxacin/silver sulfadiazine) otic emulsion for treatment of canine otitis externa. (FDA)
• Hill’s Pet Nutrition introduced Prescription Diet z/d low fat to support dogs with concurrent food and fat sensitivities. (company announcement)
• Purina Pro Plan Veterinary Supplements introduced Multi Care soft chews for the support of skin, digestive and immune health in dogs. (Today’s Veterinary Business)
• Stokes Pharmacy announced an exclusive partnership with the Bova Group to offer a U.S.-made compounded oral treatment for feline infectious peritonitis (FIP). Bova’s unique drug formula of GS-441524 is currently in use in the UK and Australia. The FDA has stated that it does not intend to enforce new animal drug approval requirements for products compounded from GS-441524, when prescribed by a veterinarian for a specific cat patient for the treatment of FIP under the conditions listed in Guidance for Industry (GFI) #256. (VINNews, company website, FDA)
• Curative Sound launched CS-Pro VET, a portable focused Extracorporeal Shockwave Therapy (f-ESWT) device for companion and equine patients. (Today’s Veterinary Business)
• Esaote North America announced the launch of the MyLabFOX veterinary ultrasound system. (canadiangeographic.ca)
• Ainos, Inc. announced the initiation of a clinical study for a new potential VELDONA-based drug for pet disease. The study is aimed at evaluating the clinical efficacy of low-dose oral interferons in treating feline chronic gingivostomatitis (“FCGS”). Ainos’ VELDONA, a low-dose oral interferon alpha formulation, was initially approved by the Texas Department of Health in 1985 for treating feline leukemia in cats and canine parvovirus in dogs. (com)
• VetSkribe announced the launch of their new veterinary virtual scribing service. Originally a dictation company, VetSkribe curated a comprehensive veterinary dictionary and, using AI, expanded to offer solutions for highly accurate, quality transcriptions. VetSkribe is currently offering a 30-day free trial for veterinary practices in conjunction with Mental Health Awareness Month. (company press release)
• PetSafe launched a portable GPS dog fence and tracking collar featuring the brand’s patented AccuGuard technology. Dog owners have the option to bring this technology along with them outside their own yard, while monitoring their dogs’ real-time location in the My PetSafe mobile app. (Pet Business)
• ArkeaBio, an ag-biotech start-up developing a vaccine to reduce livestock methane emissions, announced the close of a $26.5 million Series A financing round led by current investor Breakthrough Energy Ventures (BEV). ArkeaBio’s vaccine will provide an innovative, cost-effective, and scalable solution to reduce the world’s livestock methane emissions. (Feedstuffs)
• IRELAND PBC Biomed announced the formation of PBC BioVet to offer a diverse portfolio of innovative products and therapies designed to address a wide spectrum of veterinary needs from advanced medical devices to therapeutic solutions. (com)
• INTERNATIONAL The Bridge Club introduced the inaugural Bright Minds Singapore award and its second annual Bright Minds UK Award in collaboration with Singapore Vet Show and London Vet Show. These prestigious accolades honor visionary thinkers, wellness advocates, and innovators in the field of veterinary medicine; voting for the Bright Minds Singapore Award and UK Awards begin on May 15. (company press release)

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ANIMAL HEALTH STOCK PRICE TRACKER

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ANIMAL HEALTH NEWS

• US – VETERINARY WELL-BEING Results of the 2023 Merck Animal Health Veterinarian Wellbeing Study IV have just been published in the Journal of the American Veterinary Medical Association.  Brakke Consultant John Volk is lead author.  The research, conducted by Brakke Consulting, Kynetec Market Research and a team of experts, underscored the importance of good work-life balance as  the leading predictor of high levels of well-being, low burnout, and good mental health among veterinarians. (AVMA)
• SCOTLAND – BSE A case of bovine spongiform encephalopathy (BSA) has been identified on a farm in Ayrshire, Scotland, through routine surveillance and control measures. Precautionary movement restrictions had been put in place at the farm and three other sites; the animal did not enter the human food chain. (com)
• US – RABIES The Centers for Disease Control and Prevention announced new regulations, requiring that all dogs entering the U.S. must appear healthy, must be at least six months old, must have received a microchip, and the owner must verify the animal either has a valid rabies vaccine or has not been in a country where rabies is endemic in the last six months. Dogs coming from a country that is considered at high risk for rabies and who received a rabies vaccine from another country must meet additional criteria.  (org)
• US – AVIAN INFLUENZA The US Department of Health and Human Services and the USDA announced a new plan to pay dairy farmers and farm workers to take steps to prevent the spread of H5N1 avian influenza. Over the next four months, the government will pay up to $28,000 per farm to support specific steps to prevent the spread of H5N1 bird flu in dairy cattle.  Some $98 million will be funneled to the USDA’s Animal and Plant Health Inspection Service to fund the program. (CNN)
• US – HEARTWORM GUIDELINES The American Heartworm Society (AHS) published on April 9 an updated version of its Canine Heartworm Guidelines on heartworm prevention, diagnosis, and treatment. The AHS continues to recommend year-round administration of macrocyclic lactone heartworm preventives as the cornerstone of heartworm management. In addition, the revised guidelines now recommend both FDA-approved isoxazolines and EPA-approved mosquito repellent products to kill mosquitoes and help prevent the spread of heartworms. Previously, only EPA-approved products were recommended. (AVMA)
• US – DOG HEALTH A Texas A&M University survey of 27,531 dog owners demonstrated that while certain breeds have a higher incidence of particular diseases, purebreds and mixed breeds are relatively equal in the overall frequency of health issues. The study also found that the lifetime prevalence of pets with no owner-reported medical conditions was higher in the purebred population (22.3%) than among mixed breeds (20.7%). The study was published in Frontiers in Veterinary Science. (Today’s Veterinary Business)
• US – CULTURED MEAT Alabama has become the second state in the nation to ban the sale of cultured meat, making the manufacture, sale or distribution of food products produced from cultured animal cells a Class C misdemeanor as of Oct. 1. However, the legislation does not prevent any federal institution of higher education from conducting research in Alabama regarding the production of cultivated food products. Alabama’s ban follows Florida’s legal precedent taken earlier this month. (Feedstuffs)

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BRAKKE CONSULTING VIEWPOINT
Evaluate and Adapt your business – Sooner rather than later

On Monday I went into town, to visit one of the local Vet Retailers, privately owned and with a long history in the community.  I had my script in hand and on presenting it a very interesting scenario played out.

Last week’s poll yielded some interesting yet not terribly surprising information. Only Gen X and Baby Boomers sometimes indicated their preference was to shop at a physical store, and in both cases it was less than 15% of respondents. Over all generations, the preference to shop only online ranged in a narrow band from 19% – 39%. Folks preferring to mix up online and visiting a physical store varied from 50-75%.

Back to my Monday errand, the store did not have the product on hand, but they could get it for me by Friday to pick up as they had an arrangement with each major supplier to deliver a specific day of the week. I used my phone and within minutes could arrange for a next day drop ship to my home, from a vet distributor with an online system geared to accept a script and payment.

The simplicity of the cell phone has provided access across generations, to a magnitude of online shopping experiences. The simplicity of the procedure to search for a product, upload information like a script and paying has greatly contributed to acceptance, again across generations.

I showed this to the manager at the store and both him and his assistant, commented that they have always done business this way, that carrying inventory is problematic and that increased regulations, requiring more and more products to be under control of a veterinarian is problematic. They have a website and people need to call in and ask for what they need.

I am afraid that very much like Bed Bath & Beyond, not paying attention to the customer and his changing behavior and legal access to a multitude of online product suppliers, may hurt this entity in the long run.

How often do you evaluate your business, to ensure it aligns well with the customer needs?

Lourens Havenga

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YOUR VIEW
Last week, we asked your shopping preferences for pet products, as well as which generation you are a part of.  Overall, 70% of you said you like a mix on online and in-person shopping, while 23% prefer shopping online; only 7% said you prefer shopping in a physical retail store.  The preference for using both methods dominated for all generations, but only Baby Boomers and Gen X expressed any preference for in-store shopping.

This week
This week’s question is for those of you whose company sells products to veterinarians and/or pet owners.

Does your company offer an online shopping option?