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» Animal Health News & Notes for August 16, 2019

August 16, 2019
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Brakke Consulting’s
Animal Health News & Notes for August 16, 2019
Copyright © Brakke Consulting

Editor: Lynn Fondon DVM MBA
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IN THE NEWS:

Brakke Consulting news
Recruiting

earnings news
Covetrus
Elanco
ImmuCell
Zomedica

other news
Aliments Mackenzie
Boehringer Ingelheim
BPV Environmental
Pestell Pet Products
Pet Partners
Petit Muso
Smithfield Foods
SomaDetect
Targeted PetCare
Targeted Pet Treats
VersaPet
Vetmeasure
VitusVet

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2019 KC Animal Health Corridor Events
August 26-27, 2019
Kansas City, MO

Market Insight Seminar  
August 26, 3:00 – 5:00 pm
Join fellow animal health leaders in Kansas City this August for the 4th annual KC Animal Health Corridor Market Insight Seminar.  All registration proceeds will  be donated to New Horizon Ranch and Rose Brooks Center .

Animal Health Corridor Homecoming Dinner
August 26, 5:00 – 9:00 pm
The KC Animal Health Corridor’s annual Homecoming Dinner is an exclusive gathering of industry leaders from around the world to celebrate global industry successes and growth.

Animal Health Investment Forum
August 27, 7:30 am – 6:00 pm
The KC Animal Health Investment Forum is one of the only opportunities in the world for early stage animal health companies to present their vision and business plan to potential investors.

For details, go to http://kcanimalhealth.thinkkc.com/events/annual-events

REGISTER NOW: https://www.eventbrite.com/e/2019-annual-kc-animal-health-corridor-events-tickets-61435035846

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COMPANY EARNINGS RELEASES

• Elanco Animal Health reported its financial results for the second quarter of 2019. Total revenue was $782 million, an increase of 1% compared with the second quarter of 2018 (+4% without the impact of foreign exchange rates). Revenue excluding strategic exits was $754 million, flat with the prior year (+3% without the impact of foreign exchange rates). Net income for the quarter was $35.9 million compared to a net loss of $(62.8) million in the prior-year period. (company press release)

• Covetrus announced financial results for the second quarter of 2019. Net sales were $1.01 billion, relatively flat compared to the second quarter of 2018. On a pro forma basis, which includes Vets First Choice in the prior year period, net sales declined 4% in the second quarter of 2019 of which foreign exchange effects were a 3% headwind. Non-GAAP pro forma organic net sales declined 1% normalizing for foreign exchange, mergers and acquisition activity and net sales adjustments for manufacturer switches from direct to agency sales in the US. Net loss was $(10) million, compared to net income of $29 million in the comparable prior-year period. (company website)

• ImmuCell Corporation announced unaudited financial results for the quarter ended June 30, 2019. Total product sales were $2.7 million, a decrease of 10% compared to the same period in 2018. The quarter-to-quarter sales comparison was negatively impacted by order backlogs. Net loss was $(627,000) in comparison to a net loss of $(798,000) during the second quarter of 2018. (company press release)

• Zomedica Pharmaceuticals Corp. reported consolidated financial results for the second quarter ended June 30, 2019. Zomedica recorded net loss of $(2.4) million compared to a loss of $(4.1) million for the prior-year quarter. Zomedica had cash and cash equivalents of $5.8 million as of June 30, 2019, compared to $1.9 million as of December 31, 2018. (company website)

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BRAKKE CONSULTING
RECRUITING THROUGH MANAGED SERENDIPITY

Option 1: Post a job. Pray for a response. Plow through resumes.

Option 2: Partner with Brakke Consulting, someone who is looking out for you, working for you 24/7/52 to assess talent, find potential. We will work with you to plan your needs, continuously scout who is available, who is ready for a move up (not just someone who has done the job before), and recruit the most promising candidates to your company.

To learn more about how we can help you find the right person for your position, contact John Mannhaupt at jackintx@aol.com or 336-396-3916.

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COMPANY NEWS RELEASES

• Pestell Group announced a name change to Targeted PetCare for its pet products business unit. Targeted PetCare will serve as the overarching company name for the Pestell’s collection of companies which includes Pestell Pet Products, BPV Environmental, Targeted Pet Treats and VersaPet. (GlobalPets)

• VitusVet announced a partnership with Pet Partners, bringing VitusVet’s technology to the more than 90 animal hospitals in the Pet Partners network. (company press release)

• Vetmeasure, creator of a harness that measures the health of an animal’s heart and other key health statistics, announced a $100,000 investment by the Ames Seed Fund. The investment will provide the necessary runway for the company to expand their animal health monitoring products. (Silicon Prairie News)

• Smithfield Foods Inc. announced it is launching a plant-based protein portfolio under its Pure Farmland brand, with soy-based options for all meal occasions, including breakfast, lunch, dinner and appetizers. (Feedstuffs)

• CHINA Boehringer Ingelheim has opened a new animal health management center in Shanghai, China. The full-service reference laboratory integrates Boehringer’s animal disease, diagnostics and monitoring capabilities in one site. The firm claims this is the first facility of this type to be established by an international business in China. (Animal Pharm)

• CANADA SomaDetect announced it has completed its most recent seed funding round, raising $2 million. The start-up has produced an in-line sensor that measures critical indicators of quality of health from cows at each milking. (Animal Pharm)

• CANADA Aliments Mackenzie, an expert in natural food for cats and dogs, announced the acquisition of Petit Muso, manufacturer of dog treats with distribution in over 300 pet stores throughout Quebec. Financial terms were not disclosed. (Petfood Industry News)

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ANIMAL HEALTH STOCK PRICE TRACKER

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ANIMAL HEALTH NEWS

• US – ANTIBIOTIC USE The U.S. Poultry & Egg Association released a report quantifying antimicrobial use on broiler chicken and turkey farms from 2013 to 2017. The report shows that over that time frame, broiler chickens receiving antimicrobials in the hatchery decreased from 93% to 17%; for turkeys, the percentage decreased from 96% to 41%. In chickens, researchers found a “documented shift” to the use of antimicrobial drugs that are not considered medically important to humans. To see the report, go to http://www.uspoultry.org/poultry-antimicrobial-use-report/. (Vet Advantage)

• US – PARASITE DATABASE Entomologists at Purdue are leading an effort to modernize the world’s knowledge on arthropod parasites using a three-year, $4.3 million National Science Foundation grant. The Terrestrial Parasite Tracker project will mobilize more than 1.3 million arthropod specimens representing species such as ticks and mosquitoes. Specimen images will be used to develop automated tools for rapid parasite identification. The data will be combined with vector and disease monitoring data from state and federal agencies, creating a portal for researchers to track past parasite distributions and their interactions with hosts in order to predict future changes. (Feedstuffs)

• SWITZERLAND – CAT ALLERGIES Researchers have published results of a new study that outlines the immunization of cats to neutralize the antibody “Fel d 1,” which causes allergic reactions in about 10% of the people in the Western world. Swiss company HypoPet developed the vaccine and said that it was well tolerated in all 54 cats that were tested, with no toxic effects. HypoPet is working with U.S. and European regulators to bring the product to market. The study was published in The Journal of Allergy and Clinical Immunology. (clickorlando.com)

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BRAKKE CONSULTING VIEWPOINT

We are seeing a great deal of innovation in the animal health space these days. Every week there are news items about the development of products, technologies and services that are redefining what it means to be a part of the animal health market. This week, we have a pet harness that can monitor vital statistics, an in-line milk quality sensor, and a vaccine that neutralizes people’s allergies to cats. Last week it was a bovine leukemia virus treatment that combined a COX-2 inhibitor and an immune checkpoint inhibitor, and a bovine tuberculosis blood test, and a nucleosome-based blood test for cancer.

It certainly seems that much of the innovation in our industry is originating outside of traditional animal health companies. Here at Brakke Consulting, we have our ears to the ground, and the connections to make things happen. Whether you’re a startup looking for a partner to bring your concept to market, or an industry mainstay looking for novel products and services to bring into the fold, we can help you achieve your goals. Several of our consultants will be attending the upcoming KC Animal Health Corridor events August 26 & 27, so if you’d like to meet with a Brakke consultant while you’re there to learn more about how we can assist you, please let us know.

Lynn Fondon

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Brakke Consulting
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