Animal Health News & Notes for January 19, 2024

***********************************
Brakke Consulting’s
Animal Health News & Notes for January 19, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
************************************

IN THE NEWS:
Brakke Consulting News
Industry Overview at WVC

Earnings News
Virbac

Other News
Allivet
American Kennel Club
Antech
Aurora Pharmaceutical
BIO-CAT
Blue Rabbit
Caldic
Central Garden and Pet
Delmarva 2000
ENTOD Pharmaceuticals
Ethical Products
Exclusively Pet Cookie Company
GlobalVetLink
HerdWhistle
Hound
IDEXX (Fecal Dx)
IDEXX (inVue)
IGNITE Veterinary Solutions
Imagindairy
KENT Nutrition Group
L Catterton
MAI Animal Health
MentorVet
Milltrust International
MWI
Neogen
Oceania Meat Producers
Purina
RedRover
Ridley Corporation
Scratch Financial
SK Telecom
Sploot Veterinary Care
SunTech
VerticalVet
Vetology Innovations
Vieworks
Walkin’ Pets

*****************************************
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.

*********************************************
EARNINGS NEWS RELEASES

• Virbac SA reported results for the full year 2023. Sales were EUR 1,247 million ($1,357 million), up 2.5% as reported and +4.6% at constant exchange rates and scope of consolidation. (marketscreener)

**************************************
COMPANY NEWS RELEASES

• The FDA announced approval of Aurora Pharmaceutical’s EquiCoxib (generic firocoxib oral solution) for use in horses. (FDA)
• IDEXX Laboratories, Inc. announced the expansion of its Fecal Dx antigen testing platform with the addition of Cystoisospora, a common intestinal parasite that causes diarrhea, weight loss, and dehydration, primarily in young dogs and cats. (company press release)
• IDEXX Laboratories, Inc. announced the launch of the IDEXX inVue Dx Cellular Analyzer, a first-of-its-kind slide-free cellular analyzer to detect the most common cytologic changes found in ear and blood samples. The in-clinic analyzer provides practitioners with reference-laboratory quality results in 10 minutes. (company press release)
• Neogen launched the Provecta Pro Flea and Tick Collar for Dogs. Containing the active ingredients deltamethrin and methoprene, the collar provides six months of protection for dogs at least 12 weeks old. (Todays Veterinary Business)
• MAI Animal Health announced it has acquired Delmarva 2000, a supplier of veterinary radiosurgery and dental tools. Terms were not disclosed. (Todays Veterinary Business)
• Antech announced it the launch of the in-hospital Nu.Q Canine Cancer Test. Q will operate on Antech’s Heska Element i+ Immunodiagnostic Analyzer in-hospital platform. Nu.Q assays are available from multiple sources; however, the Nu.Q cartridge run on the Element i+ Immunodiagnostics Analyzer provides veterinarians with the first and only patient-side point of care test. (streetinsider)
• The American Kennel Club (AKC) announced it has launched its online pet pharmacy, AKCRx, in partnership with Allivet. All orders placed on AKCRx.com are processed and filled by Allivet. AKCRx will offer a full complement of FDA and EPA prescription and over-the-counter selections for a wide range of animals. (Pet Product News)
• Purina Pro Plan Veterinary Diets announced the launch of the Pro Plan Veterinary Support Mission. As its first act, the brand donated $1 million to the American Veterinary Medical Foundation (AVMF) REACH program, which offers grants to veterinarians providing immediate pet care when owners experience financial hardship. (company press release)
• MWI Animal Health announced a strategic partnership with Hound. Through this partnership, MWI Animal Health customers can access Hound’s talent management technology. Hound’s software for the veterinary industry includes platforms to support job search and recruiting, veterinarian and technician relief and employee engagement and retention. (company press release)
• SunTech introduced the Vet40 surgical vital signs monitor for companion animals. The monitor includes NIBP, temperature, SpO2, ECG, and optional ETCO2. (com)
• Ethical Products announced that it has purchased the Exclusively Pet Cookie Company from Central Garden and Pet. Financial terms were not disclosed. (Pet Business)
• GlobalVetLink (GVL) announced enhancements to the GVL Compliance Assistant platform aimed at digital security. GlobalVetLink’s new SmartCert technology adds verifiable digital fraud protection, automated certificate routing, and secure sharing, all built on GVL’s SOC-2 secure platform. (yahoo finance)
• Walkin’ Pets launched a veterinary-exclusive line of pet mobility solutions. The products include the Walkin’ Fit Adjustable Splint, No-Knuckle Training Socks, Walkin’ Wrist Hugger and Walkin’ Hock Hugger. (Todays Veterinary Business)
• KENT Nutrition Group’s Innovative Solutions team introduced Efficor, a novel probiotic plantarum strain to improve growth performance and feed efficiency in growing and finishing pigs. (Feedstuffs)
• BIO-CAT, Inc., announced a partnership with global distribution solutions provider Caldic North America to bring their proprietary probiotic strains and OPTIFEED branded solutions to the Companion Animal Health and Nutrition market in North America. (prnewswire)
• Scratch Financial announced a partnership with Blue Rabbit veterinary online pharmacy. The strategic alliance will enable veterinary practices to utilize Scratch Checkout for Blue Rabbit’s online payment processing and integrated reporting suite. (yahoo finance)
• L Catterton announced that it has made a strategic investment in Sploot Veterinary Care. Sploot currently operates seven clinics across Denver and Chicago, with an additional clinic expected to open this month. (PRnewswire)
• IGNITE Veterinary Solutions announced an Affiliate Program Partnership with VerticalVet. VerticalVet members will now have access to IGNITE’s innovative products, programs, and solutions, including the company’s comprehensive educational resources. (prnewswire)
• MentorVet announced the launch of MentorVet Lift, a new mentor certificate program to support and grow mentors in the veterinary community. The program consists of self-paced online learning, monthly facilitated peer support meetings with fellow mentors, and a capstone project that applies course learning. The program will be piloted with a special track created specifically for individuals in organized veterinary medicine, MentorVet Lift for VMAE. (company press release)
• Non-profit group RedRover announced their 2024 Safe Housing Homeless Shelter Pilot Program, thanks to the generous support of an anonymous donor. This pilot program, with a deadline of March 1, 2024, will offer Safe Housing grants of up to $100,000 for U.S. homeless shelters to start a pet friendly program at their shelter. (globenewswire)
• AUSTRALIA Ridley Corporation Limited announced it has acquired New Zealand-based Oceania Meat Producers for NZD$57 million ($35.6 million). The deal aims to leverage the animal nutrition company’s pet food capabilities. (Globalpets)
• CANADA HerdWhistle Technologies announced the engagement and partnership of HerdWhistle with Milltrust International as the key investor and main broker for HerdWhistle’s C$6 million raise under Milltrust’s Agri-food Technology Ventures. (com)
• INDIA ENTOD Pharmaceuticals unveiled its latest initiative, FUR by ENTOD (Veterinary), a specialized division devoted to providing innovative Eye and Ear Care medicines for pets. (Economic Times)
• KOREA SK Telecom announced that it has entered into a strategic partnership with Vetology Innovations, a medical technology manufacturer, and signed a commercial contract with Vieworks, an X-ray medical imaging device manufacturer, to promote overseas distribution of its AI-based veterinary X-ray image diagnosis assistance service ‘X Caliber.’ (marketscreener)
• ISRAEL Imagindairy announced the acquisition and operation of industrial-scale precision fermentation production lines to focus on the production of animal-free dairy ingredients. The company has also received a “no questions” letter from the US FDA in response to a GRAS (generally recognized as safe) notice submitted by the Imagindairy, enabling the company to use its animal-free dairy proteins in food and beverage products. (com)

*********************************************
Brakke Consulting
Presented at WVC: Monday, February 19^th, 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 2024 WVC conference.  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 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!

www.BrakkeConsulting.com  

*********************************************
ANIMAL HEALTH STOCK PRICE TRACKER

***********************************
ANIMAL HEALTH NEWS

• US – VETERINARY EDUCATION Rocky Vista University, home to the RVU Montana College of Medicine, announced plans to develop the Rocky Vista University College of Veterinary Medicine in Billings, Montana. There is currently no other veterinary school within 400 miles of Billings. RVU has been working on this project for the past 18 months and is in the process of becoming accredited. (com)
• VETERINARY EDUCATION Hanover College in Indiana announced plans to launch a hybrid, continuous Doctor of Veterinary Medicine (DVM) program with its first cohort starting in August 2026. The program – which students will complete in three years – will feature a blend of online lectures and discussions, along with centralized laboratory and regional clinical experiences;. (edu)
• US – VETERINARY EDUCATION The Oklahoma State University College of Veterinary Medicine announced plans to create a Center for Rural Veterinary Medicine. The current vision for the program includes a service component in underserved and rural regions, as well as outreach programs to mentor youth in these regions to help prepare them for STEM careers, including veterinary medicine. One CRVM program, the Integrated Beef Cattle Program for Veterinarians, has already started. (Veterinary Advantage – Bovine Vet Online)
• US – SHELTER POPULATIONS Shelter Animals Count – a group that compiles data from nearly 7,000 shelters nationwide – reported that there were 250,000 more animals in the shelter system at the end of 2023 than the year before. (cbsnews)
• US – DOG AGING PROJECT The Dog Aging Project, which has been probing cognitive and physical aspects of aging in about 50,000 dogs, is likely to lose funding this year from the National Institute on Aging (NIA), which has furnished at least 90% of its annual budget, now about $7 million. The project received marginal scores on its grant renewal application late last year. Organizers are striving to raise money from other sources and have launched a petition drive to convince the director of the National Institutes of Health to intervene to restore funding, asserting that  dog aging can teach us about human aging. (org)

************************************
K-STATE OLATHE
Professional Development and Academic Webinars

The Statistician in R&D: A Vital Team Member, Not an Inconvenience | Mar. 6, 11:45 a.m. to 1:00 p.m.
Statistics is a critical part of regulatory submissions and working with statisticians can be overwhelming for scientists and professionals. People who are adept at working with statisticians are more effective and successful. Register today!

************************************
BRAKKE CONSULTING VIEWPOINT
I might not be the best judge of vibes, but there was a pretty good vibe going on this week at the NAVC’s VMX veterinary expo in Orlando.  The event was well attended, again over 27,000 attendees, and many people felt that we have finally moved on from the disruptions caused by the pandemic − business was back to normal, like the old times.

Unlike the old times, the convention show floor seemed to have moved on to new, bigger times – there were some amazingly large, open, airy, and welcoming booths that were attracting lots of visitors.  These booths were full of technology, from large screens to personal digital interactions, aiming to educate and inform.  Companies have been changing to open and technology-driven booths for years now, but the number and size of them seemed noticeable this year.

But, as many readers know I like to say, “it’s all about people” and this is why VMX is always a great way to start the year.  Between old and new colleagues, reunions of people from companies that don’t exist any longer, and new companies entering the animal health industry, this is a great people event as we all begin a new year.  If you missed VMX, you have one more chance… see you next month at Viticus’ WVC.

Bob Jones

***********************************
YOUR VIEW
Last week, we asked if you feel your company is an innovator in their field. Nearly three-quarters said yes: 43% of you said yes, definitely; and 29% said somewhat. 17% answered “not really”, and only 12% said not at all.  It seems like our industry is riding the innovation wave.

This week
This week, let’s stay on the innovation theme.  According to a recent McKinsey paper, their research considered how proficient 183 companies were at innovation, and compared that assessment against a proprietary database of economic profit (the total profit minus the cost of capital). The McKinsey researchers found that companies that harness the essentials of innovation see a substantial performance edge that separates them from others.

How big was that edge in generating economic profit compared to other players?