The Experts in Animal Health

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Brakke Consulting’s
Animal Health News & Notes for January 20, 2023
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:

Brakke Consulting News
2023 Industry Overview – register now
Brakke Search

Earnings News
Vetoquinol

Company News
Aurora Pharmaceutical
Barkleigh Production
BiomEdit
Companion Fund
CureLab Veterinary
Essential Research
Hill’s
IDEXX
Jackson Square Ventures
Merck (NOMV)
Merck (Vedi)
National Dog Groomers Association of America
Nutreco
PetCareRx
PetMed Express
Qorvo Biotechnologies
Roo
Royal Canin
Ruminant BioTech
Vedi
Vetsource
VolitionRx
W.F. Young
Zomedica

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BRAKKE SEARCH

Looking to build out your team? Are you new to the animal health/nutrition industry? Brakke Search can help.

We’ve been dedicated exclusively to the industry since 1986. Executive Recruiter Jeff Santosuosso, aided by our network of over a dozen veteran consultants, is poised to understand your specific needs and work with you every step of the way to identify those talented candidates. Let us do the legwork for you to present a highly qualified short list. We even conduct a free qualitative candidate fit assessment to help guide you in final interviews!

Check our website for details or contact Jeff Santosuosso jeff@brakkeconsulting.com.

www.BrakkeConsulting.com

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EARNINGS NEWS RELEASES

  • Vetoquinol reported results for the full year 2022. Sales were EUR 540 million ($585 million), up 3.6% on a reported basis and down -0.8% at constant exchange rates. (Businesswire)

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BRAKKE CONSULTING
Announcing the 2023 Brakke Industry Overview

Presented at WVC: Monday, February 20th, 2-4 pm, Four Seasons Hotel, Acacia 1

Come join us at Brakke Consulting’s annual Industry Overview presented at VMX and WVC next year.  Key topics and presenters include:

  • Industry and top global company performance, presented by Bob Jones
  • Continuing consolidation of and labor shortages in vet practices, including their response to inflation, presented by John Volk
  • A closer look at pet pharmacy consumerization and how we can all thrive in this new era, presented by Candise Goodwin
  • Trends, challenges, and opportunities facing animal health companies in finding talent in today’s business environment, presented by Jeff Santosuosso

Also, moderated by Paul Casady, a panel of industry leaders will discuss their views on the subject of “Managing Animal Health Companies in Times of Uncertainty”.  Panelists for WVC include:

  • George Fennell, Senior VP and General Manager, Companion Animal Group Customer Facing Organization, IDEXX Laboratories
  • Nicki Baty, President and General Manager, Hill’s Pet Nutrition US

To learn more about and sign up for the Industry Overview, click here.  You can also email Amanda McDavid or call us at 336-396-3916.

www.BrakkeConsulting.com

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COMPANY NEWS RELEASES

  • Merck Animal Health announced that it is partnering with Not One More Vet (NOMV) to launch a new certification program to help create and maintain work environments that prioritize well-being and mental health. The CLEAR (Compassion, Listening, Energy, Action, Resources) Blueprint will be available anywhere in the world in any clinic or specialty setting. Developed by an interdisciplinary team of veterinary and mental health professionals, the certification’s goal is to inspire healthy work cultures in veterinary medicine while providing actionable tools and resources to energize workplaces. (DVM360)
  • PetMed Express announced an agreement to acquire PetCareRx, a supplier of pet medications, food, and supplies. The acquisition will see PetMeds expand its existing base of over 2M customers and add around 10,000 incremental wellness products to its offering. Financial terms were not disclosed. (Seeking Alpha)
  • Hill’s introduced the Prescription Diet ONC Care foods for pets with cancer. Designed for cats and dogs, these foods will come in wet and dry forms. The diets will be available on the market in March. (DVM360)
  • Royal Canin North America announced the launch of Skintopic, a new diet created to help manage canine atopic dermatitis. (DVM360)
  • The FDA has approved Aurora Pharmaceutical,‘s DectoGard, the first generic doramectin topical solution for treatment and control of gastrointestinal roundworms, lungworms, eyeworms, grubs, biting and sucking lice, horn flies and mange mites in cattle. (FDA)
  • Zomedica announced a strategic restructuring of its existing development and commercialization agreements with Qorvo Biotechnologies for the Company’s Truforma line of products. Zomedica will take control of aspects of the Truforma product line previously provided by Qorvo, including development of new assays and manufacturing both instruments and assay cartridges. Zomedica will provide up-front licensing and certain milestone payments, including the option to extend exclusive rights for Truforma in the veterinary health market in perpetuity. (accesswire)
  • VolitionRx Limited announced the availability of its Nu.Q Vet Cancer Test through IDEXX Laboratories. (PRNewswire)
  • CureLab Veterinary launched a crowdfunding campaign via Netcapital, a leading investment crowdfunding platform. CureLab Veterinary’s lead product, Elenavet (a supercoiled circular DNA called a plasmid), has successfully treated dogs with mammary cancer. (Yahoo news)
  • F. Young introduced its new Silver Honey Rapid Ear Care line for pets. The line consists of Silver Honey Rapid Ear Care Vet Strength Ear Wipes and Silver Honey Rapid Ear Care Vet Strength Ear Treatment and Rinse. (Nonwovens industry)
  • Nutreco and BiomEdit, a spinout from Elanco, announced a long-term agreement to develop and commercialize Biome-actives, a new generation of feed additives based on microbiome science. (Feed Navigator)
  • Essential Research LLC has developed Chocolate Rescue for Dogs, a treat that claims to prevent illness brought on by chocolate poisoning. The product, meant to be administered at home, passed lab studies and is now undergoing dog trials. (Vet Advantage)
  • Roo, a tech company committed to providing a marketplace to connect animal hospitals with relief vets and techs, recently closed $11 million in Series A funding. This round was led by Jackson Square Ventures with follow-on investments from Floodgate, AirAngels, and Uplyft Funds. (Yahoo news)
  • Vetsource announced new enhancements to the scripting experience that will present a more intuitive way to place orders based on client preferences, give the ability to easily adjust patient information, and introduce functionality and workflows that ultimately give practices time back. (company press release)
  • Barkleigh Productions recently announced that it has acquired the National Dog Groomers Association of America (NDGAA). Barkleigh produces Groomer to Groomer, Pet Boarding & Daycare and PetVet magazines, as well as producing ten industry trade shows. Financial terms were not disclosed. (Pet Age)
  • AUSTRALIA Australian veterinary tech company Vedi has secured $3 million from investors Merck Animal Health and Companion Fund. The company plans to use the funds to expand its medical record platform for pet health into the United Kingdom. (Businessnewsaustralia)
  • NEW ZEALAND Ruminant BioTech announced it has developed a method to eliminate at least 70% of methane emissions from livestock in six months. The technology involves placing a bolus into cows’ rumen and releasing a substance to counteract the formation of methane. It’s planned to be commercially available in 2025. (Vet Advantage)

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ANIMAL HEALTH STOCK PRICE TRACKER

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ANIMAL HEALTH NEWS

  • US – ANIMAL TRACEABILITY USDA’s Animal and Plant Health Inspection Service (APHIS) is proposing to amend animal disease traceability regulations and require electronic identification for interstate movement of certain cattle and bison. APHIS is also proposing to revise and clarify record requirements. Interested stakeholders may view the proposed rule in the Federal Register here. All comments must be received by March 22, 2023. (Feedstuffs – subscription)

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BRAKKE CONSULTING VIEWPOINT
Wow!  NAVC’s VMX veterinary conference in Orlando smashed all records this week with a reported 27,000 attendees.  That’s more than 10,000 more than last year’s registration.  The show was jam-packed with a record number of CE sessions, entertainment, and a huge exhibit hall.  Many of the exhibitors thought outside the box with novelties such as a roller-skating rink and free (real) tattoos.  (I admit that I took advantage of neither, thinking ahead to the possible reaction of returning home with a broken bone or body art.)  Kudos to Gene O’Neill and his team for a spectacular event.

The annual Brakke Industry Overview at VMX was standing room only as well.  Thanks to panelists Scott Bormann, Kurt Green and Kevin Polhman for their cogent remarks.  We had to turn several people away, so we hope you can join us for the Overview at WVC in Las Vegas.  This one you don’t want to miss.

John Volk

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YOUR VIEW

Last week, we asked where you believe most innovation in animal health will come from. 42% said it will come from startups; 22% from R&D of established companies; and 18% from repurposed agriculture or human health products. 9% said it will come from universities and their spinouts, and 8% said other sources.

This week
A recent survey by William Blair revealed that 79% of consumers were OK to very positive with their financial situation, 53% had more savings than a year ago, 56% of those employed had seen their salaries increase, and 62% of those employed expected their salaries to increase this year.  Yet 48% were negative or very negative about the economy.  What is your feeling about the economy?

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