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Brakke Consulting’s
Animal Health News & Notes for January 12, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Industry Overview at VMX and WVC
Pet Medications Home Delivery Study – now available
Earnings News
ImmuCell
Neogen
Other News
Alveo Technologies
Antelligence
Bioceltix
BioVet CGT
BOLD Capital
Ceva
ELA Pharma
Fear Free
Gallant Therapeutics
Hill’s
MWI
PawWire
Pet MD Brands
Pharmsure International
QSM Diagnostics
Riley’s Organics
Royal GD
SignalPET
Skout’s Honor
Swedencare
Tractor Supply
x-OvO
Zhengye Biotechnology Holding
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Brakke Consulting
Pet Medications Home Delivery Study – now available
Optimizing Pet Medicine Services: Key Insights into Home Delivery Channel
Discover critical insights for pet medicine businesses and veterinarians. Based on surveys of veterinarians and pet owners, as well as other primary research, the new Brakke Pet Medications Home Delivery Study will unveil current pet owner behaviors, emerging veterinary business trends, and the impact of online retailers on pet medication home delivery.
Leverage this knowledge to refine services, enhance customer experiences, and manage competitive challenges effectively. The proprietary research in this groundbreaking study will allow businesses to stay at the forefront of the evolving pet healthcare industry with current industry-backed data. Your success is our priority.
The report, priced at $14,500, is now available. For more information, contact Richard Hayworth at rhayworth@brakkeconsulting.com or 214.422.2025.
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EARNINGS NEWS RELEASES
- Neogen Corporation announced the results of the second quarter ended November 30, 2023. Revenues were $229.6 million, a decrease of 0.2% compared to the prior year. Net loss was $(3.5) million compared to a net loss of $(41.8) million in the prior-year period. Revenues for the Animal Safety segment were $65.2 million, a decrease of 5.0% compared to the prior year quarter, consisting of a 4.7% core revenue decline, a 0.2% headwind from discontinued product lines and negative foreign currency impact of 0.1%. (company press release)
- ImmuCell Corporation announced preliminary, unaudited sales results for the full year 2023. Total sales were $17.5 million, a year-over-year decline of 6% primarily due to lower production output during the first ten months of the year. (company press release)
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Brakke Consulting
Presented at VMX: Monday, January 15th, 2-4 pm, Hyatt Regency, Orlando Ballroom N
Presented at WVC: Monday, February 19th, 2-4 pm, Four Seasons Hotel
How did the top animal health companies perform in 2023? And what critical issues will impact industry performance in 2024? Answers to these questions and more will be covered at Brakke Consulting’s annual Industry Overview at the VMX and WVC conferences next year. Key topics and presenters include:
- Industry and top global company performance, presented by Bob Jones
- What 2023 looked like in vet practices and with pets, presented by John Volk
- An overview of the post-COVID home delivery channel for pet medications including results from the new Pet Medicines Home Delivery Study, presented by Rich Hayworth
- With recent advancements in technology-related products in livestock production and pet care, where is the value and what are the risks? presented by Lourens Havenga
Also, again at both events, you will be able to hear directly from a panel of top leaders in the animal health industry. Moderated by Paul Casady, the topic for the panel will be “Opportunities and Challenges in 2024.” The panel for VMX and WVC will be announced soon.
This information-packed 2-hour session will be especially valuable for executive leadership, sales and marketing, strategy, and finance managers and for decision makers in the animal health industry.
Click here to register for VMX
Click here to register for WVC
You can also email Amanda McDavid or call at 336-396-3916. Registration cost is $399; there are discounts for multiple attendees from the same company. We look forward to seeing you there!
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COMPANY NEWS RELEASES
- Ceva Santé Animale announced the appointment of Brad McCollum as Senior Vice President for North America. Brad McCollum succeeds Jean-Charles Tissot, who has been overseeing this region since 2019 and will now lead the global autogenous vaccines’ activities. (company press release)
- Swedencare announced that its subsidiary business, Pet MD Brands, has taken over treat and pet care company Riley’s Organics for $7.5 million. The transaction will be completed in 2 steps: 30% of the acquisition was in the third quarter of 2023, with an option to buy the remaining 70% in the first half of 2024. In addition to treats, Riley’s Organics also sells pet supplements and ear care treatments. (GlobalPets)
- Hill’s Pet Nutrition announced a series of new product innovations and enhancements to its Hill’s Prescription Diet pet food line to launch in the first half of 2024. The products include Prescription Diet z/d Low Fat Hydrolyzed Soy Canine; Prescription Diet c/d Multicare Low Fat Canine; upgraded Prescription Diet Gastrointestinal Biome Stress Feline; and three new Prescription Diet c/d Multicare Stress Feline wet flavors: Vegetable & Tuna Stew, Tuna, and Chicken. (PRnewswire)
- SignalPET announced the launch of SignalSTAT, an advanced veterinary X-ray interpretation solution that can assess cases with both advanced AI technology and expert human oversight with a guaranteed 45-minute turnaround time, available 24/7. (Globenewswire)
- Gallant Therapeutics announced the successful completion of its Series A financing, securing over $15 million. The financing round was led by BOLD Capital, joined by new investors Digitalis Ventures and Hill Creek Partners. (Globenewswire)
- QSM Diagnostics announced a distribution agreement with MWI Animal Health. MWI will inventory, market and promote the QSM Otter and FetchDx products throughout the United States. (PRweb)
- BioVet CGT announced a research and development partnership with ELA Pharma to develop animal health products using ELA Pharma’s platform technology that inhibits cell necrosis. (com)
- Petsense by Tractor Supply announced the debut of Skout’s Honor grooming products in its pet salons nationwide. This is the first time Petsense by Tractor Supply is offering a premium product line of this nature in its salons. (Pet Business)
- Fear Free and Antelligence announced a partnership designed to help veterinary students better understand the business side of medicine, anchored by Fear Free’s sponsorship of the Veterinary Student Insider (VSI), an Antelligence publication. (prweb)
- PawWire, a pet technology company owned by The Wires, announced the launch of its premium shopping marketplace platform. The app and web-based platform offer a wide range of products from furniture to accessories, treats and wellness items. (Pet Product News)
- CHINA Zhengye Biotechnology Holding, a Chinese provider of veterinary vaccines with a focus on livestock, filed on Tuesday with the SEC to raise up to $20 million in an initial public offering. Zhengye Biotechnology’s products are available in China, Vietnam, Pakistan, and Egypt. The company reported $35 million in sales for the 12 months ended June 30, 2023. (com)
- EMEA Alveo Technologies announced it is working to develop an in-the-field multiplex panel to test for all relevant strains of avian influenza, initially focusing on Group A, H5, H7, and H9. To help co-develop and distribute the tests, Alveo has partnered with x-OvO, Royal GD, and Pharmsure International Ltd. The company expects to release their first product in the poultry diagnostic space in Europe, the Middle East, and Asia in the first half of 2024. (Feedstuffs)
- POLAND Bioceltix, a Polish biotech startup, has secured approximately EUR 2.53 million in subsidies through the European Funds for a Modern Economy (FENG) program to develop an allogenic stem cell-based drug candidate for the treatment of atopic dermatitis in dogs. (com)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – PSEUDORABIES The USDA and Wildlife Services has identified the presence of Pseudorabies virus antibodies in samples collected from two feral pigs tested in Calaveras County, California; both pigs were euthanized to prevent further spread. The disease was eradicated from U.S. commercial pig industry in 2004. (com)
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BRAKKE CONSULTING VIEWPOINT
Innovation in veterinary medicine can take many forms. It could be groundbreaking new drugs or non-pharmaceutical therapies. It could be novel technologies that help veterinarians practice better medicine, or streamline practice workflows. It could be new ways of delivering veterinary services, from telehealth to incorporating artificial intelligence. It could manifest as new models for veterinary practice. We’ve seen all of these impact the field of animal health in recent years.
Innovation can be exciting, but it can also sometimes feel threatening. Today’s veterinary practices are facing challenges to the “traditional” way of doing business, from the loss of product sales to retail & online pharmacies, to the push for broadening the use of telehealth and AI-based tools. It is up to us as a profession to embrace innovation to better serve our clients and patients. Are you ready?
Lynn Fondon
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YOUR VIEW
Last week, we asked you how many conferences you planned to attend in 2024. 25% of you said you’ll attend 1 or 2 meetings; 44% said 3-5 meetings; 20% said 6-9 meetings; and 12% said 10 or more. Sounds like a banner year for the travel industry.
This week
Would you describe your current employer as an innovator in your space?
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