***********************************
Brakke Consulting’s
Animal Health News & Notes for January 27, 2023
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
************************************
IN THE NEWS:
Brakke Consulting News
2023 Industry Overview – register now
Earnings News
Virbac
Other News
AmerisourceBergen
Cencora
Co-Innova Animal Nutrition Technology
Fisher-Price
GE HealthCare
Merck
MWI
Norbrook
Novus
Parnell Living Science
PetDx
PetSmart
Petzey
Purina Animal Nutrition
Sound Technologies
VAS
Zoetis
***************************************
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.
**************************************
EARNINGS NEWS RELEASES
- Virbac reported results for the full year 2022. Revenues were EUR 1,216 million ($1,317 million), a year-over-year increase of 14% (+10% at constant exchange rates). In the US, business grew by +30% (+16% at constant exchange rates). (company website)
*********************************************
COMPANY NEWS RELEASES
- VAS announced a partnership with Zoetis to bring genomic data to the PULSE Platform and DairyComp herd management software. This integration makes recording, submitting and evaluating genetic test data seamless between VAS PULSE Platform and Zoetis SearchPoint. (com)
- Merck Animal Health announced the FDA’s approval of an expanded indication for Bravecto Chews for Dogs. The new indication treats and controls Asian longhorned ticks. (Businesswire)
- Norbrook announced the launch of Tulieve, a generic tulathromycin injectable for use in cattle and swine. (Feedstuffs – subscription)
- Parnell Living Science announced the launch of RESPIRmycin generic tulathromycin injection. (Hoards)
- AmerisourceBergen, parent company of MWI Animal Health, announced its intent to change its name to Cencora. MWI communicated that “the animal health brands… will continue to serve the animal health industry.” (company press release)
- Purina Animal Nutrition announced two new feed additives for swine: Purina EnduraSow formulated to support sow performance and reproductive efficiency; and Purina EnduraPig for piglet respiratory health and immune function during the post-weaning period. (Feedstuffs – subscription)
- Sound Technologies and GE HealthCare announced an agreement to distribute the Vscan Air, a cutting-edge, wireless pocket-sized ultrasound, to veterinary practices in the United States. (Businesswire)
- PetDx announced that Alejandro Bernal, DVM, MS, MBA, has been appointed as its new President and Chief Executive Officer, succeeding PetDx Founder Daniel S. Grosu, MD, MBA, who will continue in his role as Chairman of the Board. (company press release)
- PetSmart & Fisher-Price announced the launch of a collection of toys for puppies that target specific developmental needs; with teething, calming and interactive toys that support a growing pup. (Pet Business)
- Petzey, an app connecting users virtually to veterinary professionals, announced its launch in all 50 states. The app is free and the virtual visits are $20 each. (wyomingnewsnow)
- CHINA Novus International announced a partnership with Co-Innova Animal Nutrition Technology (Shanghai) Co., Ltd., to serve customers in China. Co-Innova will serve as Novus’ distributor in China for its Mintrex bis-chelated trace minerals and other products. (Hoards Dairyman)
*********************************************
ANIMAL HEALTH STOCK PRICE TRACKER
***********************************
ANIMAL HEALTH NEWS
- US – WOTUS Representatives from 17 industries have filed a lawsuit attempting to overturn the Biden administration’s new Waters of the United States rule. The lawsuit states that the WOTUS rule should be thrown out because it conflicts with the Clean Water Act, the U.S. Constitution and supreme court precedent. Among the agriculture groups listed as plaintiffs are the American Farm Bureau Federation, the Matagorda County Farm Bureau, the National Cattleman’s Beef Association, the National Corn Growers Association, the Pork Producers Council, the Texas Farm Bureau and the U.S. Poultry and Egg Association. (Feedstuffs – subscription)
************************************
BRAKKE CONSULTING VIEWPOINT
Last week John Volk wrote about the unbelievable turnout at VMX with over 27,000 in-person attendees. I certainly felt the optimism in the air at VMX but also sensed a cautiousness – can the animal health industry remain resilient in the face of economic uncertainty.
At the beginning of 2023, inflation was running at levels not seen in over 40 years. The Fed is trying to cool the economy by increasing interest rates from near 0% at the beginning of 2022 to 4.5% today. Talk of a recession is everywhere.
We are now starting to see the pain that rising interest rates, slowing demand and a recession will cause. Amazon, Microsoft, Facebook, Google, Salesforce, Twitter and Goldman Sachs have all announced thousands of layoffs in the past two months. Maybe these companies staffed-up too quickly during the pandemic and are now right-sizing, but this may be an omen of things to come.
But many vet clinics are as busy as ever and always appear to be in search of qualified candidates to fill openings for veterinarians and vet technicians. We will review hiring issues, what veterinarians intend to in times of inflation and more at our annual Industry Overview at WVC on February 20th (sign up here). We are hoping for another big, optimistic turnout at WVC – maybe that will be a good sign for 2023.
Randy Freides
**********************************
YOUR VIEW
Last week, we asked your feelings about the economy. Most of you (46%) said your feelings were negative, and 7% were very negative. 32% felt okay about the economy. Only 15% were positive or very positive.
This week
This week for your viewpoint, let’s take a break from economic stuff and crack into something really critical: the price of eggs. According to the WSJ, egg prices were up 60% in 2022, which they gathered from the consumer-price index published last week. The price of eggs grew more than any other grocery item last year. I’ll bet our readers are big egg-eaters, so how have you responded?
English (United States) 
Portuguese