Animal Health News & Notes for February 23, 2024

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Brakke Consulting’s
Animal Health News & Notes for February 23, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Animal Health Jobs

Earnings Nws
Fressnapf
Nestlé
Trupanion

Other News
360 Capital
Blue Heron Consulting
Boehringer Ingelheim
Fear Free
Hill’s
Jampy
Ketonatural
Mill
Nestlé
The Petfood Company
Sleip
Vetstream
Westfleisch

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KC Animal Health Corridor
Animal Health Summit
Now Accepting 2024 Emerging Company Applications 

The KC Animal Health Corridor is now accepting applications from early-stage companies to present at the 19^th annual Animal Health Summit, held in Kansas City on August 26-27, 2024.

The 19^th annual Summit is one of the only opportunities in the world for early-stage companies in the animal health and nutrition sectors to present their vision, business plan and technology to potential investors.

The selection committee will consider companies that meet the following criteria:
– Seeking $500,000 – $20 million in funding, or strategic partnerships to advance a company’s technology
– Revenue projections of $20 million within 5-7 years

Applications are due by April 1. To apply to present as an emerging company, visit the Animal Health Summit application page .

For more information, contact Kimberly Young at young@thinkkc.com. 

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EARNINGS NEWS RELEASES

• Nestlé SA reported results for the full year 2023. Pet Care sales were CHF 18,860 million ($21,383 million), a 4% year-over-year increase (real internal growth of 3%). Underlying trading operating profit was CHF 3,912 million ($4,435 million), a 5.5% increase. (company press release)
• Trupanion, Inc. announced financial results for the full year 2023. Total revenue was $1.1 billion, an increase of 22% compared to 2022. Net loss was $(44.7) million, compared to net loss of $(44.7) million in 2022. Total enrolled pets (including pets from our other business segment) was 1,714,473 at December 31, 2023, an increase of 12% over December 31, 2022. (company press release)
• Fressnapf reported results for the full year 2023. Turnover was EUR 4 billion ($4.3 billion), a year-over-year increase of 15%. (Globalpets)

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Animal Health Jobs
Are you searching for the perfect candidate to join your team in the dynamic world of Animal Health and Nutrition?

At Animal Health Jobs, we take pride in being the best resource for connecting companies with exceptional talent in the industry. With a resume database of nearly 4,000 talented and experienced candidates, AHJ is your partner for finding the best fit for your team.

Why choose Animal Health Jobs?
Specialized Expertise: Our exclusive focus on the animal health and nutrition industries gives us a unique edge in understanding your needs and matches them with qualified professionals who share your passion.
Your Success, Our Priority: Your success story begins with the right team. Let us help you craft that story by introducing you to the ideal candidate who aligns with your company’s values and goals.

Don’t let the competition snatch up top-tier talent before you do. Join forces with Animal Health Jobs and open the door to your next great hire.

Act Now! Explore our talent pool and post your job opening today at www.animalheatlhjobs.com Your ideal candidate is just a click away! 

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COMPANY NEWS RELEASES

• Boehringer Ingelheim and Sleip announced a global commercial partnership to expand access to AI to enhance detection, diagnosis and treatment of lameness in horses. Veterinarians record the horse in action using a smartphone, then Sleip’s AI-powered technology analyzes the horse’s movements and displays the results in the app within minutes, including stride-by-stride analysis video with synchronized biomechanical data. (company press release)
• Hill’s Pet Nutrition is being sued for more than $2 billion in a class action suit brought by the boutique dog food manufacturer, Ketonatural. The suit claims that Hill’s fabricated the alleged connection between boutique, exotic and grain-free (BEG) dog foods with dilated cardiomyopathy (DCM) beginning in 2018, in order to destroy competition. (com)
• Fear Free LLC and Blue Heron Consulting announced a strategic alliance to improve veterinary client and patient experiences, support veterinary teams, and elevate care standards. Separately, Fear Free LLC and Vetstream announced a strategic alliance. (company press release)
• Food-recycling system Mill recently received formal approval from the Washington State Department of Agriculture (WSDA) to distribute their recycled chicken feed ingredient in Washington State, marking the first time a chicken feed ingredient made from recovered household food scraps has been approved for commercial distribution in the US. Mill’s feed license comes following a landmark vote from membership of the Association of American Feed Control Officials (AAFCO) on the applicable animal feed ingredient definition for Dried Recovered Household Food, and after a recommendation from the FDA last summer. (Feedstuffs)
• HUNGARY Nestlé Hungária announced it will invest EUR 141 million (US $152 million) at its pet food plant in Bük, to set up a new production unit and install two automated production lines at the facility. The plant will have the capacity to make 500,000 tonnes of pet food a year from 2025, up from 200,000 tonnes in 2019, some 85% of which will be exported. (petfood industry)
• GERMANY Westfleisch – Germany’s second-largest meat marketer and maker of dry pet chews through its subsidiary Dog’s Nature – announced it has acquired The Petfood Company. Financial terms were not disclosed. (globalpets)
• ITALY Jampy, an Italian pet wellness startup, recently closed a EUR 1 million ($1.08 million) pre-seed investment round led by European fund 360 Capital and 3 angel investors. (Globalpets)

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ANIMAL HEALTH STOCK PRICE TRACKER

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ANIMAL HEALTH NEWS

• US – AVIAN INFLUENZA The USDA announced that it is “18 months or so” away from identifying a vaccine for the current strain of bird flu and is developing a process to distribute it, according to Agriculture Secretary Tom Vilsack. USDA plans to discuss poultry vaccinations with trading partners, amid concerns that other countries could restrict imports of vaccinated U.S. poultry. (AVMA SmartBrief – Reuters)
• US – CANINE RESPIRATORY DISEASE Reports collected by the AVMA suggest that cases of atypical canine infectious respiratory illness appear to be waning, and the USDA says no novel pathogens have been identified. Research is ongoing, and the AVMA says dog owners should ensure their pets’ bordetella, adenovirus and influenza vaccines are up to date and people should wash their hands thoroughly after contact with a dog to avoid spreading pathogens. (AVMA SmartBrief – Today)
• US – VETERINARY SCHOOLS Arkansas State University and Lyon College are both in the accreditation process of adopting the veterinary schools in the state of Arkansas, which currently has no veterinary school. Lyon College is planning to open its vet school in the fall of 2025, while ASU is planning to open its vet school in the fall of 2026. (com)
• US – VETERINARY SCHOOLS University of Maryland Eastern Shore is poised to become the second historically Black college or university in the country to offer a veterinary school. The program was recently granted approval by the University System of Maryland Board of Regents and Maryland Higher Education Commission; a consultative visit from the AVMA Council on Education is expected to occur this year. (com)
• US – VETERINARY EDUCATION The AKC Canine Health Foundation (CHF), in collaboration with the American Kennel Club (AKC), announced the launch of the AKC/AKC CHF Canine Sports Medicine & Rehabilitation Residency Program. CHF released the first call for applications from veterinary colleges with approved sports medicine and rehabilitation programs this month. Each proposal will be reviewed by a panel of CHF leadership and subject matter experts and the chosen institution will receive $100,000 annually to support a three-year residency. (company press release)
• US – CANCER RESEARCH Researchers at Virginia Tech recently published a study where they concluded that a type of urine test, called Raman spectroscopy, is 92% effective at detecting cancer in dogs. The test uses a laser to detect a cancerous fingerprint in the molecules of patients with cancer. (org)

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BRAKKE CONSULTING VIEWPOINT
This week I attended Viticus Group’s 96th WVC Annual Conference in Las Vegas.  Like VMX earlier this year, the attendance was impressive and there was robust foot traffic in the Exhibit Hall. I spoke with several exhibitors, all of whom were extremely pleased with their engagement with veterinarians at the conference.  There were also many interesting lecture topics, including one I attended recapping Operation Ukraine, which is providing veterinary care to animals in Ukraine in the midst of a war. Congratulations to Viticus for a great event.

Brakke also presented our annual Industry Overview at WVC, with over 80 attendees.  We thank everyone for your interest in hearing our thoughts on how the industry fared in 2023, and where we believe it’s going in 2024. And a huge “thank you” to our panelists Dr. Dan Markwalder and Dr. Christine Royal for sharing your insights with us.

If you are interested in the Overview but weren’t able to attend at either VMX or WVC, we are happy to present it personally to your management team, or you can purchase the recording – just reach out to Amanda McDavid (amcdavid@brakkeconsulting.com) for more details.

Lynn Fondon

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YOUR VIEW
Last week, we asked what you do to maintain your pets’ oral health. Responses were fairly evenly split: 26% said you have your pet’s teeth cleaned at least once a year as well as doing dental treatment at home; 26% have your pet’s teeth professionally cleaned only if the vet says it is needed, but don’t do at-home care; 28% say you provide home care but your pet has never had a dental prophy; and 19% said you’ve never had a reason to provide dental care.

This week:
Since 2020, three new veterinary colleges have been established, increasing the total to 33 in the US. Additional considerations for new schools, including those in Arkansas, New Jersey, South Carolina, and Utah, may further expand the total to potentially 37 colleges of veterinary medicine graduating students in the next 5 years

What is your opinion about meeting the future demand for veterinarians?