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Brakke Consulting’s
Animal Health News & Notes for April 19, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Animal Health Jobs
Earnings News
Boehringer Ingelheim
PetMed Express
Virbac
Other News
Airpets International
Animalcare
BARK
Cargill
Dechra
ELIAS Animal Health
Fidelis Animal Health
GlobalVetLink
Kane Biotech
Nestlé Purina
Peptobiotics
ProMach
Royal Canin
STEM Animal Health
Zoetis
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Animal Health Jobs
Announcing the 3rd Annual Attitude Survey
We want to hear from you!
Animal Health Jobs is excited to announce the 3rd Annual Attitude Survey for the Animal Health and Nutrition Industry. At Animal Health Jobs, we value your insights into the animal health and nutrition industry. Your opinion is valuable in helping us understand the attitudes and trends within our great industry.
The survey is short and will only take you a few minutes to complete; and all responses will be kept confidential. To say thank you for taking the time to contribute to our research, respondents will be entered into a sweepstakes for Amazon gift cards.
The survey is open now through May 17th. A white paper with the results of the survey will be published by the end of June.
To take part in the survey, please click here.
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EARNINGS NEWS RELEASES
- Boehringer Ingelheim reported results for the full year 2023. Animal Health net sales were EUR 4.7 billion ($5.0 billion), a year-over-year increase of 3.6% (+7% currency-adjusted). Nexgard sales rose by 17% (currency adjusted) to EUR 1.2 billion ($1.3 billion). (company press release)
- Virbac SA announced results for the first quarter of 2024. Revenue amounted to EUR 346 million ($368 million), an increase of 10% (+11% currency adjusted). The integration of Globion (acquisition in India closed in November 2023) contributed to growth by +1.1 points. (company website)
- PetMed Express, Inc. announced its financial results for its third quarter of fiscal year 2024 ended December 31, 2023. Net sales were $65.3 million, an increase of 11% year over year; due to the acquisition of PetCareRx offset by declines in PetMeds legacy sales. Net loss was $(2.0) million, compared to net loss of $(212,000) for the prior year quarter. (seekingalpha)
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COMPANY NEWS RELEASES
- An article published last week in the Wall Street Journal suggested that Zoetis’ Librela may be causing potentially serious side effects in some dogs, citing over 12,000 adverse events reported to the European Medicines Agency (where Librela has been on the market since 2021). Zoetis maintains that the medicines are safe, with reports of side effects representing well less than 1% of the more than 18 million shots of both Librela and Solensia combined administered to date in the U.S. and abroad. (Wall Street Journal)
- Kane Biotech announced that it has completed the sale of its interest in STEM Animal Health Inc. to Dechra Veterinary Products, Inc. for $8,000,000, plus net cash held in STEM and a working capital adjustment. The Transaction was completed by way of a share purchase agreement between Kane, STEM, Ecuphar NV (which owned 33% of STEM via its Animalcare subsidiary, and sold it to Dechra for a $4.7 million cash payment ) and Dechra. (company press release)
- Nestlé Purina announced a new partnership with Cargill to support soil health and reduce the carbon footprint for Purina dry pet food products across North America. The partnership is expected to support the adoption of regenerative agriculture practices across more than 200,000 acres of corn and soy farmland in the Midwest, and is estimated to reduce the carbon footprint of the Purina grain supply from Cargill by up to 40% over the next three years. (Feedstuffs)
- ELIAS Animal Health announced the company is pursuing a $10 million Series A capital raise to support manufacturing expansion and commercial launch of ECI, its adoptive cell therapy for the treatment of canine osteosarcoma. (prnewswire)
- Fidelis Animal Health announced a new expanded label indication for Ethiqa XR (buprenorphine extended-release injectable suspension) 1.3 mg/mL that now includes use in non-human primates, in addition to mice, rats, and ferrets. (company press release)
- Royal Canin U.S. announced an expansion to its Veterinary Gastrointestinal (GI) portfolio. The new products include Royal Canin Gastrointestinal Low Fat + Hydrolyzed Protein Canine; Royal Canin Gastrointestinal Low Fat Small Dog; Royal Canin Gastrointestinal High Fiber Loaf in Sauce Canine; Royal Canin Gastrointestinal Hydrolyzed Protein Feline; and Royal Canin Gastrointestinal Fiber Response Thin Slices in Gravy. (prnewswire)
- GlobalVetLink (GVL) has partnered with Airpets International to simplify pet travel. GlobalVetLink’s Pet Travel Concierge Service is now integrated with Airpets International’s pet shipping logistics operations. (prnewswire)
- BARK, an global omnichannel dog brand, has partnered with a jet charter company to launch BARK Air, the world’s first air travel experience designed specifically for dogs first, and their human companions second. Starting today, premium flights for dogs (and their humans) are available for booking, with the first flights taking off from New York on Thursday, May 23. (Pet Product news)
- Peptobiotics, a startup aiming to replace the commercial use of antibiotics in aquaculture with antimicrobial peptide technology, has raised $6.2 million as part of its series A funding round. The round was led by Hatch’s Blue Revolution Fund (com)
- ProMach, a supplier of processing and packaging solutions, announced the launch of its new Pet Care Solutions group. The new business will offer an extensive portfolio of process, filling and systems integration solutions for the pet industry. (petfood processing)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – VETERINARY SPECIALTY The AVMA Board of Directors has approved a plan for forming a task force addressing the shortage of veterinary specialists working in academic positions at veterinary colleges. The task force will identify and proposing solutions for issues limiting the number of veterinary specialists seeking careers in veterinary academia. The task force will include more than a dozen members, including from the AAVMC, AVMA Council on Education, American Association of Veterinary Clinicians, and AVMA Early Career Development Committee as well as industry partners, among others. (association press release)
- US – NASS REPORTING The USDA’s National Agricultural Statistics Service (NASS) announced it is canceling the July Cattle report and discontinuing the Cotton Objective Yield Survey, as well as all County Estimates for Crops and Livestock beginning with the 2024 production year. NASS said it has and will continue to review its estimating programs using criteria focused on the needs of its mission and customers to prioritize budget decisions. (Feedstuffs)
- US – REGENERATIVE MEDICINE A researcher at Louisiana State University’s School of Veterinary Medicine has developed a syringe that can temporarily store adult stem cells so that they can be delivered and given to the patient from the same device. Stem cells or tissue grown in the laboratory are placed directly into the syringe for transport, and can be applied to the tissue directly from the same syringe. The inventor has applied for a patent for the device. (edu)
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BRAKKE CONSULTING VIEWPOINT
Let’s face it, many of us have called or have been called team members after hours. A call before dark is one thing, but when’s the limit? California has proposed a “Right to Disconnect” law which calls for fines of $100 if your manager calls you after the latest hour you set. (The draft proposes a fine after 3 calls.) Australia’s similar law is about to go into effect. France, Canada, and other countries already have these on the books.
There are exceptions: emergencies, scheduling changes that would take place in the next 24 hours, etc. Remote employees working for a CA company would also be included. (Spring forward, fall back?) Not surprisingly legislators point to intrusions on personal time having increased during COVID.
Most of us can take a practical approach to this issue, and it seems that nearly every manager tries to minimize after-hours intrusions. But there are exceptions. Would you support a law to this effect?
Jeff Santosuosso
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YOUR VIEW
The results of last week’s poll indicated modest growth expectations for 1Q2024 – at least by our industry standards. 43% expected 3-5% growth, 21% 1-2% growth, 22% no growth or decline and 14% 5+% growth. Let’s hope we outperform our own expectations!
This week
This week’s poll reaches astronomical heights! Did you watch the eclipse last week?
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