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Brakke Consulting’s
Animal Health News & Notes for August 30, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Brakke Search – Equine Industry Veterinarian
Transaction Insights Seminar – now virtual
earnings News
Apiam Animal Health
Chewy
J.M. Smucker
Patterson
Pet Valu
Phibro Animal Health
Other News
Agri Advanced Technologies
Amferia
Big Idea Ventures
Biokema SA
Boehringer Ingelheim
Butcher’s Pet Care
Cambridge Technology
Erhan Tuban Yazilim
Fear Free
Inspire Veterinary Partners
Inspired Pet Nutrition
Low Cost Pet Vax
Mars Petcare
Merck
The Veterinary Cooperative
Vetsie.ai
Vvaan Lifesciences
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Brakke Consulting
Job opening: Director of Veterinary Medicine – Equine
Equine Veterinarians! Interested in joining a small but well-established company serving the equine community? As (Senior) Director of Veterinary Medicine, you’ll play an increasingly central role supporting widely used products and developing new ones. The role requires experience in professional services and product development, along with top-notch presentation skills. This is a hybrid/remote role with competitive salary and outstanding benefits. To learn more, click here or contact Jeff Santosuosso at jeff@brakkeconsulting.com.
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EARNINGS NEWS RELEASES
- Phibro Animal Health Corporation announced financial results for its fiscal year ended June 30, 2024. Net sales were $1,018 million, an increase of 4%. Net income of $2.4 million, a decrease of $30.2 million. Animal Health net sales were $706.5 million, an increase of 7%, Animal Health adjusted EBITDA was $145.6 million, an increase of 7%. (company website)
- Patterson Companies, Inc. reported results for its fiscal 2025 first quarter ended July 27, 2024. Reported net sales in the Animal Health segment were $982.4 million, a year-over-year decline of 2.8%. Segment operating income was $25.4 million, a decline of 15%. (company press release)
- Chewy, Inc. reported financial results for the second fiscal quarter ended July 28, 2024. Net sales were $2.86 billion, a 2.6% increase year-over-year. Net income was $299.1 million (including a tax benefit of $252.6 million), compared to net income of $20.2 million in the year-ago period. (company press release)
- The M. Smucker Co. announced results for the first quarter ended July 31, 2024, of its 2025 fiscal year. U.S. Retail Pet Foods net sales were $399.7 million, a year-over-year decline of 9%. Segment profit was $115.3 million, an increase of 42%. (seekingalpha)
- Apiam Animal Health reported results for its full year 2024. Revenue grew 6.2% to A$205 million (US$139 million). Gross profit was A$137.3 million (US$93 million), an increase of 9.6%. (com.au)
- Pet Valu Holdings announced its financial results for the second quarter ended June 29. Revenue was C$265.2 million (US$197 million), up 3.5% versus the prior year. Net income was C$17.8 million (US$13.2 million), down from $24.1 million in the prior year. (Pet Business)
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Brakke Consulting
Transaction Insights: Unlocking the Secrets to Successful Business Deals in Animal Health
Now a three-session virtual event beginning September 25, 2024
Are you seeking to navigate the complex landscape of buying and selling businesses or technology in the animal health and nutrition industry? Given the success of last year’s relaunch, we are excited to announce our educational transaction seminar for 2024, 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. This comprehensive seminar is designed to equip you with the knowledge, tools, and strategies to make informed decisions and to successfully manage a transaction in the animal health industry. Presenters include Senior Brakke Consultants Jim Kroman, Paul Casady, and Randy Freides.
The format now is virtual (Zoom) and will be held over three days, September 25th, October 2nd and October 16th. Each session will start at 1 pm ET and last 2 hours, followed by 30 minutes of questions, answers and discussions. Each session will be recorded in case you are unable to attend.
To view the event agenda, click here. To register, click here. Sign up by September 13th to receive our discount price of $1,000. Registration after July 26 will be $1,200. For more information, contact Amanda McDavid at amcdavid@brakkeconsulting.com or 336.396.3916.
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COMPANY NEWS RELEASES
- Merck Animal Health announced that the USDA has approved the manufacturing and sale of Cambridge Technology’s experimental autogenous vaccine in the U.S. for the emerging avian metapneumovirus type B, impacting broilers, broiler breeders, layers and turkey breeders. Cambridge Technologies previously received experimental autogenous license approval from the USDA Center for Veterinary Biologics for its vaccine to address metapneumovirus type B. (company press release)
- Mars Petcare announced a partnership with Big Idea Ventures to launch the Next Generation Pet Food Program. The pilot initiative, in collaboration with AAK (specializing in plant-based vegetable oils and fats) and Bühler (a global technology partner for the food, feed and mobility industries) is looking for startups working on sustainable protein and fat that can support pathways to reducing carbon emissions in pet food production. This includes novel ingredients and processing technologies, such as upcycling food waste and innovative extraction methods. (petfood industry)
- Low Cost Pet Vax, a Texas-based pet health care provider, has opened their first pop-up vaccination clinics in Miami, Florida. The clinics are walk-in only, operating on weekends in the parking lots of local businesses, with veterinarians on-site to supervise the services. (DVM360)
- Agri Advanced Technologies (AAT), part of the EW Group, announced it has introduced its Cheggy technology to the U.S. market. Cheggy is a non-invasive in-ovo sex determination system, and will be available at the end of this year in America. (Feedstuffs)
- Inspire Veterinary Partners, Inc. announced that it has entered into a non-binding letter of intent withai, an Artificial Intelligence software platform designed to empower veterinary professionals, to engage in diligence and initial negotiations regarding the terms of a potential transaction whereby Inspire may Acquire Vetsie.ai in an all-stock transaction. (streetinsider.com)
- The Veterinary Cooperative (TVC) announced a new alliance with Fear Free. (yahoo finance)
- INDIA Boehringer Ingelheim India announce a strategic distribution partnership with Vvaan Lifesciences Private Limited for their Pet Parasiticide portfolio. The partnership leverages the expertise of Vvaan Lifesciences to extend the reach of Boehringer’s pet portfolio in Tier 2 cities (mini metros) and expanding their customer base in underserved regions. (company press release)
- SWITZERLAND Amferia announced the signing of its second commercial agreement. The contract is with the leading Swiss animal health company Biokema SA for commercialization of Amferia’s proprietary wound care technology (a wound dressing that kills bacteria even resistant bacteria) for Animal Health in Switzerland. (cision.com)
- UK Inspired Pet Nutrition, the independent UK pet food company controlled by CapVest Partners LLP, announced the acquisition of Butcher’s Pet Care, a leading manufacturer of high-quality wet pet food. Terms of the transaction were not disclosed. (Pet Business)
- TURKEY Erhan Tuban Yazilim, the company behind the VetBilim project, announced the availability of its product VetBilim for English-speaking audiences. This platform focuses on improving animal health management through evidence-based AI technology. VetBilim is an AI tool that allows users to securely upload their pets’ health data, where it undergoes a thorough analysis. A detailed report is then generated, providing findings, potential health issues, and science-based recommendations for initial care. (einnews.com)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – AVIAN INFLUENZA U.S. Agriculture Secretary Tom Vilsack announced that a number of companies that have been working on influenza H5N1 vaccines for cattle, and one company has now presented sufficient information to the USDA to begin the first field trial of a vaccine for cattle H5N1 for safety purposes. USDA’s Center of Veterinary Biologics, which is overseeing these efforts, published a notice this week that it is now accepting field trial applications for H5N1 vaccines that may be conducted outside of containment without terminal disposal of milk and other commodities. Previously, CVB indicated that all studies, even those not involving virus challenge, were to be conducted in containment facilities regardless of risk profile. (Feedstuffs)
- US – VETERINARY TEAM MEMBERS A push to establish a midlevel veterinary professional role in Colorado has gathered enough signatures from registered voters in the state to put the initiative to a public vote on November 5. The Colorado initiative does not spell out in detail the scope of the new role, describing it as within the Veterinary Professional Associate’s “advanced education and experience” and as delegated by the “supervising veterinarian.” The American Veterinary Medical Association has remained opposed to the concept, which is sometimes compared to physician assistants or nurse practitioners in human medicine. (vin.com)
- US – SWINE DISEASE MONITORING The World Organization for Animal Health, or WOAH, has designated the USDA’s National Bio and Agro-Defense Facility, or NBAF, as the Collaborating Centre for Genomic Monitoring of Viral Swine Diseases. The collaborating center provides support and training to WOAH member laboratories to understand a viruses’ genome, or entire set of DNA code. (com)
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BRAKKE CONSULTING VIEWPOINT
Our industry’s innovation is alive and well! Thanks to the Kansas City Animal Health Corridor for another fine Investment Forum. What a great opportunity to see old friends and colleagues and make new ones. We joke about two degrees of separation in our industry, but it’s a reality. For veterans to see talented and committed new faces along with the energy and fresh perspectives they bring is reassuring and uplifting. It bodes well for our industry.
I saw an array of innovation. From emerging companies ranging in products and services from sea life to pest control, oral hygiene to virus prevention, supply chain to block chain, and oncology to delivery mechanisms, I witnessed a slew of fine ideas finely presented.
I see new products and services that would have been unimaginable just a few years ago. Along with dedicated corporate R&D teams, universities, startups, and clever entrepreneurs are fueling innovation, often assisted by financial and strategic partnerships.
We congratulate the presenters and thank our hosts and look forward to upcoming meetings and the innovation and growth they bring. Whether you seek assistance with development, partnering, or commercialization, or whether you need to find that top talent to supercharge your organization, Brakke Consulting can help.
Jeff Santosuosso
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YOUR VIEW
Last week, we asked how you feel about your own organization’s risk tolerance. Not surprisingly, about half of us (44%) indicated moderate tolerance. Slightly more indicated low risk tolerance (33%) than high tolerance (23%).
This week
What do you see as the source most of the innovation projects?
English (United States) 
Portuguese