***********************************
Brakke Consulting’s
Animal Health News & Notes for January 5, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
************************************
IN THE NEWS:
Brakke Consulting News
Complimentary Brakke Recruiting Seminar at VMX
Industry Overview at VMX and WVC
Pet Medications Home Delivery Study
Earnings News
General Mills
Other News
ABS Global
ADM
Admiral Group
Aflac
Arterra
Bionote USA
Bioriginal
Cal-Maine Foods
Covenant Animal Health Partners
Covetrus (NVA)
Covetrus (PetVivo)
Cronus Pharma Specialties India
De Haan Petfood
Denkavit Group
Dentalis Animal Health
Embark
eVerse.AI
FarmPro
Feedworks USA
Genes Diffusion
Heart + Paw
IntelGenx
Kane Biotech
National Veterinary Associates
NovaVive
PetIQ
PetVivo
PT Trouw Nutrition Indonesia
Royal Sun Alliance
Softgel
Trupanion
Tyson Foods
United Pet Food
Vetcove
Volac International
Whistler Capital Partners
Zoetis
Zomedica
*********************************************
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- Acacia 1
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.”
We are pleased to announce that Dr. Ellen DeBrabander, Executive Committee, Head of R&D and Business Development at Elanco, will join the panel at VMX. We will announce the second panelist for VMX very 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!
www.BrakkeConsulting.com
**************************************
EARNINGS NEWS RELEASES
- General Mills, Inc. reported results for its fiscal 2024 second quarter ended November 26, 2023. Net sales for the Pet segment were down 4% to $569 million. Segment operating profit of $102 million was up 18%. (company press release)
*********************************************
Brakke Consulting
Pet Medications Home Delivery Study
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, which will be published in early January, is priced at $14,500. For more information, contact Richard Hayworth at rhayworth@brakkeconsulting.com or 214.422.2025.
********************************************
COMPANY NEWS RELEASES
- The FDA announced a supplemental approval for Zoetis‘ Revolution Plus for the treatment and control of lone star ticks in cats. (FDA)
- The FDA announced an approval for Cronus Pharma Specialties India‘s EnroPro 100 (generic enrofloxacin) for cattle and swine; EnroPro 22.7 for dogs; Carofenvet (generic carprofen) for dogs; and Florfeniject (generic florfenicol) for cattle. (FDA)
- Covetrus announced the renewal of its long-term strategic partnership with National Veterinary Associates. This new agreement designates Covetrus as the leading partner for in-clinic supply of veterinary products to NVA Group. (prnewswire)
- Bionote USA announced the launch of a new canine and feline Symmetric Dimethylarginine (SDMA) test in its Vcheck F line that provides quantitative levels of this biomarker to veterinarians at the point of care. (company press release)
- Zomedica announced the commercial launch of three new assays: Canine Pancreatic Lipase (cPL), Cobalamin (B12) and Folate, for the TRUFORMA In-Clinic Biosensor Testing Platform. (finance.yahoo.com)
- PetVivo Holdings, Inc. announced it has entered into a definitive distribution agreement with Covetrus North America, Covetrus will inventory, market and promote PetVivo’s veterinary medical device, Spryng with OsteoCushion technology, in the USA. (Finance.yahoo.com)
- New dog supplement brand Arterra launched in December, offering a variety of supplements specifically designed to slow down aging in dogs. (Petfood Processing)
- Feedworks USA introduced Feedworks Lytes, a family of electrolyte products designed to keep dairy and beef cattle hydrated and productive. (company press release)
- PetIQ, Inc. announced the launch of the Portable Calming Diffuser for Dogs and Cats from its Sentry Calming line of pet care products. (company press release)
- Dentalis Animal Health announced it has obtained the Veterinary Oral Health Council (VOHC) Seal for the reduction of Tartar for its Canine Dental Stick. (company press release)
- Bioriginal announced it has acquired the assets of Softgel, a Colorado-based manufacturer of soft gel squeeze tube products, including nutritional pet products. As part of the deal, Bioriginal will acquire a state-of-the-art facility that specializes in the encapsulation of human and pet nutrition products. Financial terms were not disclosed. (Globalpets)
- IntelGenx announced that it has entered into development and license agreements with a wholly-owned subsidiary of Covenant Animal Health Partners, LLC, wherein Covenant will fund development and manufacturing of a VetaFilm-based drug. The license agreement will give Covenant Animal Health exclusive rights to exploit the Product in the field for non-human applications. In return, IntelGenx will receive royalties on worldwide net sales of the Product. (menafn.com)
- Heart + Paw announced a significant strategic growth investment from Whistler Capital Partners. Heart + Paw will continue to be led by its existing management team. Financial terms were not disclosed. (com)
- Trupanion and Aflac Incorporated announced a decision to withdraw from development of their strategic alliance in Japan, and instead focus on the larger, underpenetrated North American pet insurance market. (company press release)
- Embark announced that its Embark DNA Test Kits are now accessible through the Vetcove platform. (company press release)
- Cal-Maine Foods announced a definitive agreement to acquire a broiler processing plant, hatchery, and feed mill in Dexter, Missouri, that were recently closed by Tyson Foods Inc. The company will invest $13 million to repurpose the assets for use in egg and egg products production. (Feedstuffs)
- UK Volac International Ltd announced an agreement to sell its milk replacer business to Dutch Denkavit Group, in order to focus on its feed additives business. Financial terms were not disclosed. (Feed Navigator – subscription)
- NETHERLANDS United Pet Food announced it has acquired Dutch pet food manufacturer De Haan Petfood. Financial terms were not disclosed. (company press release)
- CANADA Kane Biotech announced it has signed a non-binding offer to sell its interest in STEM Animal Health Inc. to an undisclosed buyer. The transaction will allow the company to shift its focus to human health. Financial details were not disclosed. (company press release)
- FRANCE ABS Global and Genes Diffusion, a cooperative owned by more than 30,000 French cattle breeders, recently signed an agreement to share their Holstein genetic resources, including germplasm and embryos. (Feedstuffs)
- INDONESIA ADM announced an agreement to acquire PT Trouw Nutrition Indonesia, a subsidiary of Nutreco and leading provider of functional and nutritional solutions for livestock farming in Indonesia. Financial terms were not disclosed. (Feedstuffs)
- UK Admiral Group announced it has acquired Royal Sun Alliance’s UK direct Personal Lines operations, including its pet insurance business, for GBP 115 million ($144.6M). (Globalpets)
- CANADA NovaVive, announced that its immunotherapy for equine endometritis, Settle, has received approval for sale in Canada from the Canadian Food Inspection Agency (CFIA). The product is expected to launch in the first quarter of this year. (thehorse.com)
- UK FarmPro introduced FarmPlusCare, a real-time health monitoring device for large livestock. The device, no larger than an iPod, attaches near or on an animal’s ear and records data every 10 minutes on health indicators such as temperature and activity. (com)
- INDIA AI, an Indian technology company operating in Dairy, Agriculture and Sustainability space, has launched CowGPT, a generative AI application purpose built for the space. Dairy farmers can use CowGPT in multiple ways through ConnectedCow web platform and app and also through a simple whatsapp chat interface. (Business-standard.com)
*********************************************
ANIMAL HEALTH STOCK PRICE TRACKER
This week let’s review the 2023 performance of companies in our Stock Price Tracker. We will return our normal table next week.
***********************************
ANIMAL HEALTH NEWS
- US – VETERINARY EDUCATION The University System of Maryland Board of Regents announced its approval for a new School of Veterinary Medicine at the University of Maryland Eastern Shore. The program will be the second veterinary school across the nation’s historically Black colleges and universities. The first anticipated students will be accepted in fall 2026. (Vet Advantage)
- US – TELEHEALTH Veterinarians licensed in California will be able see and treat their pet patients virtually under a new law that went into effect on Jan. 1. Veterinarians can now examine animals on a camera through a telehealth appointment without needing to see them in-person. They can then prescribe medications and recommend treatments, or direct the owner to a clinic for follow-up care. Veterinarians will also be required to inform their clients about the “potential limitations of telehealth” and advise them on how to receive follow-up care if their pet has an adverse reaction to treatment. (com)
- US – PET SALES New York State has enacted a law banning retail pet stores from selling dogs, cats and rabbits. The legislation also allows pet stores to now charge shelters rent to use their space if they choose to host adoptable pets. (com)
- US – ZOONOTIC DISEASE The FDA is issuing draft guidance intended to help animal drug sponsors pursuing Priority Zoonotic Animal Drug (PZAD) designation for a new animal drug. The FDA is accepting public comments on the draft guidance for 60 days from the date of publication in the Federal Register. The public should submit either electronic or written comments on the draft guidance by February 16, 2024. (FDA)
- US – MUMS GUIDANCE The FDA has released updated information to help animal drug researchers and sponsors navigate the pathway to approval for animal drugs intended for minor uses and minor species (MUMS). The final guidance is entitled “Special Considerations, Incentives, and Programs to Support the Approval of New Animal Drugs for Minor Uses and for Minor Species.” (FDA)
***********************************
Brakke Consulting
Announcing Brakke Consulting’s Inaugural Recruiting Seminar
Monday, January 15 at VMX
Hyatt Regency, Orlando Ballroom N Orlando, FL
Hiring managers and talent professionals, join us for an informative and practical seminar at VMX hosted by Executive Recruiter Jeff Santosuosso. We’ll review and discuss the latest ways of breaking through the clutter to attract and hire top talent in today’s increasingly challenging global marketplace. Specific topics will include: attracting Millennials and Gen Z, using video, how to avoid pitfalls in recruiting, and more. If you’re in the market for talent, we know you’ll leave our seminar better equipped and more confident about hiring those stars for your team.
The seminar will be held at the Hyatt Regency, Orlando Ballroom N, Monday January 15, 11:00-12:00 noon. There is no cost, but please RSVP here to secure your seat.
***********************************
BRAKKE CONSULTING VIEWPOINT
Happy New Year!
You can tell it’s January and VMX is around the corner by all of the announcements in this week’s newsletter. Today’s newsletter also is a great reflection of the animal health industry: the announcements are global in nature; numerous transactions are in the works; new products are announced; quarterly earnings are reported; there are new FDA registrations for some products, and additional label claims for others; a new veterinary school has been approved; and states are changing their regulations regarding pet sales and telemedicine. No doubt you’ll be hearing more about all of these topics and more at the upcoming veterinary conferences.
As we do every year at this time, we’ll take a look back and a peer forward to distill a picture of what the industry accomplished in 2023, and where it’s likely headed in 2024. We’ll share those observation in the annual Brakke Industry Overview. There’s an announcement about the Overview at VMX and WVC in this newsletter. If you’re attending VMX and haven’t registered yet, I encourage you to do so. Seats are limited.
We look forward to seeing many of you in Orlando.
John Volk, Senior Consultant
***********************************
YOUR VIEW
Before Christmas, we asked you what impact Chewy’s announcement of entering the veterinary practice market would have on its PracticeHub product fulfillment service. 57% thought veterinarians would be less inclined to use PracticeHub, 15% said veterinarians would be more likely to use it, and the rest said it would have no impact.
This week
With the veterinary conference season upon us, please share your plans for attendance this year.
How many national, regional and state-level conferences will you likely attend in 2024?
English (United States) 
Portuguese