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Brakke Consulting’s
Animal Health News & Notes for March 20, 2020
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
market research
Earnings News
Kindred Biosciences
Other News
BabelBark
Dechra
Destination Pet
Kindred Biosciences
Morgan Stanley Investment Management
Omega Sea
Pathway Vet Alliance
Spectrum Brands Pet
TSG Consumer Partners
VitalPet
whiskerDocs
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COMPANY EARNINGS RELEASES
- Kindred Biosciences, Inc. reported financial results for the full year ended December 31, 2019. Full year 2019 net product revenues were $4.3 million, compared with $2.0 million for the year ended December 31, 2018. As of December 31, 2019, KindredBio had $73.5 million in cash, cash equivalents and investments, compared to $73.9 million at December 31, 2018. (company press release)
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BRAKKE CONSULTING
Timely insights through rapid-turnaround market research
With our in-house database of veterinarians and the ability to custom-tailor surveys of a wide variety of target audiences, we can provide you with reliable insights into this unique industry, and get the results in your hands quickly. For more information, see our website or call us at 336-396-3916.
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COMPANY NEWS RELEASES
- Kindred Biosciences, announced that it has entered into a transaction for the sale of Mirataz to Dechra Pharmaceuticals PLC for an upfront payment of $43 million and royalties on worldwide sales. KindredBio recorded net product revenues of $4.1 million for Mirataz in 2019. In addition, the company announced that it will substantially reduce its commercial footprint, and will become a biologics-focused company pursuing canine and feline markets, while discontinuing small molecule development for these species; and the equine assets will be segregated into the KindredBio Equine subsidiary. (company press release)
- Spectrum Brands Pet, LLC, announced the acquisition of substantially all of the assets of Omega Sea LLC to add to its Global Pet Care portfolio of aquatics brands. Omega Sea is a global aquatics nutrition business that manufactures and markets premium fish food products, primarily under the Omega One brand. Financial terms were not disclosed. (Petfood Industry)
- BabelBark and whiskerDocs announced they have partnered to ensure all practices can continue to offer critical medical care and keep their staff and pet owners safe by providing free 24/7 veterinary help hotline for triage. This service will assist hospitals in the United States and Canada to conduct patient assessments and continue veterinary care remotely at no cost for the next 60 days. BabelBark is also waiving fees for its telehealth service to further streamline communications between pet healthcare providers. (company press release)
- Morgan Stanley Investment Management announced it has agreed to sell Pathway Vet Alliance LLC to TSG Consumer Partners. Financial terms were not disclosed. (Wall Street Journal)
- Destination Pet announced plans to acquire VitalPet, which has 24 veterinary hospitals operating in seven states, for an undisclosed sum. A formal written order approving the sale has been filed in the U.S. Bankruptcy Court in Houston. (Yahoo finance)
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ANIMAL HEALTH STOCK PRICE TRACKER
*Thursday market closing prices
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ANIMAL HEALTH NEWS
- US – DRUG REGULATIONS The FDA’s Center for Veterinary Medicine (CVM) announced its decision to include veterinary pharmaceuticals as part of the FDA/EU Mutual Recognition Agreement (MRA) for Pharmaceutical Good Manufacturing Practice Inspections. The EU has also agreed in principle to include veterinary pharmaceuticals as part of the MRA. (FDA)
- US – IMPORT RULES The FDA issued guidance to communicate FDA’s intention to temporarily not enforce supplier verification onsite audit requirements for receiving facilities and importers under the FDA Food Safety Modernization Act (FSMA) in response to the global pandemic of COVID-19. FDA does not intend to enforce the onsite audit requirements if other supplier verification methods are used instead. For more information, click here. (FDA)
- US – FDA INSPECTIONS The FDA announced it has temporarily postponed all domestic routine surveillance facility inspections. These are facility inspections the FDA traditionally conducts every few years based on a risk analysis. Importantly, all domestic for-cause inspection assignments will be evaluated and will proceed if mission-critical. We will continue to respond to natural disasters, outbreaks and other public health emergencies involving FDA-regulated products. (FDA)
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BRAKKE CONSULTING VIEWPOINT
We’ve gone for so long now without sports, you might have forgotten what it was like to be a Monday morning quarterback. Personally, I have moved on to be a Monday morning epidemiologist. Luckily, I have the same animal science educational qualifications to be a quarterback as I do to be an epidemiologist. It sure looks like we have used the entire playbook to “flatten the curve”.
As a budding epidemiologist, I have learned that the plays we are using to fight COVID-19 are based on many important assumptions because we are short on reliable data. (Here — is a great article on that topic.) But if you have led businesses or managed people or products, you must make decisions at times without reliable data. We don’t know how long we will have to practice social distancing or how long sales reps will park their cars at home. Or when offices or schools will reopen. When life returns to the old normal.
But you can decide now to make the best of a bad situation. Decide to come out of this better than you or your teams were before we ever heard that flattening a curve is a good thing. Field sales reps can still call their customers, training and development can still go on, coaching and development plans can still be worked on. Or try something new. As Johan Wolfgang von Goethe (1749-1832 ) said, “Fresh activity is the only means of overcoming adversity.”
Bob Jones
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YOUR VIEW
Last week, we asked you about your company’s COVID-19 contingency plans. Over half of the respondents said, “Yes – We have a contingency plan and have already taken action” and about a quarter said, “Yes – We have a contingency plan in place but have not yet put it into effect”. About 15% sad no or not yet, so it seems like the companies represented in our survey were ready with a plan.
Once again staying with the coronavirus theme, for this week let’s forecast the future by hearing your answer to this question. (Don’t worry, your answers are truly anonymous, so we can’t tell your boss.)
We want to hear from you – share your opinions with us in this one-question poll by clicking below!
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