The Experts in Animal Health

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Brakke Consulting’s
Animal Health News & Notes for March 26, 2021
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:

Earnings News
Boehringer Ingelheim
NeogePetco

Other News
Airvet
Alltech
Bimeda
Dalan Animal Health
Dechra
ezyVet
FERA Diagnostics and Biologicals
Merck
Openpay
Sure Petcare
Vetoquinol

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KC Animal Health Corridor
ANIMAL HEALTH SUMMIT
DEADLINE FOR PRESENTER APPLICATIONS IS APRIL 5

The KC Animal Health Corridor is now accepting applications from early-stage companies to present at the 13th annual Animal Health Summit, held virtually August 24-26, 2021.

The 13th 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 5. 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.

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COMPANY EARNINGS RELEASES

  • Boehringer Ingelheim reported results for the full year 2020. The Animal Health business recorded net sales of EUR 4.12 billion ($4.88 billion), an increase of 2% over the prior year (+5% year on year and adjusted for currency effects). Sales in the US grew 3% in the US to $1.81 billion (+5% adjusted). (IHS Markit Connect)
  • Neogen Corporation announced results for the third quarter of its 2021 fiscal year ended Feb. 28. Revenues were $117 million, up 17% from the previous year’s third quarter. Third quarter net income was $13.4 million, up 10% compared to the prior year. Neogen’s Animal Safety segment reported revenues of $58 million, an increase of 18% year-over-year (+16% on an organic basis). (company website)
  • Petco Health and Wellness Company, Inc. released its financial results for fiscal year 2020 ended January 30, 2021. Revenue increased 11% from prior year to $4.92 billion. Net loss was $(26.5) million, an improvement of 72% over the prior year, and was inclusive of a $17.5 million loss on the extinguishment of debt related to the company’s initial public offering. Adjusted Net Income increased $68.0 million from the prior year to $58.1 million. (company website)

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COMPANY NEWS RELEASES

  • The FDA announced it has approved Bimeda‘s KetoMed, the first generic ketoprofen for the alleviation of inflammation and pain associated with musculoskeletal disorders in horses. (FDA)
  • Vetoquinol’s US division announced it has found “a small number” of fake products alleging to be its Zylkene Behavior Support Capsules purchased from an unapproved online retailer. All of the fake products had imitation bottles using a single lot number (048019); Vetoquinol urged any customers with the associated lot number to get in contact for a free replacement. (IHS Markit Connect)
  • FERA Diagnostics and Biologicals announced the launch of AccuMast Plus, an on-farm mastitis culture test that builds on the innovation of the original AccuMast system. AccuMast Plus incorporates agalactiae to the pathogens identified by the original AccuMast test – Klebsiella, E. coli, Lactococcus, Staph. aureus, Enterococcus and Streptococcus. (company press release)
  • ezyVet and Openpay announced a partnership integrating Openpay as a payment option within the ezyVet practice management software. The option is expected to be available to consumers in the UK in late 2021 and in early 2022 in the US. (company press release)
  • Alltech announced the launch of Acutia, a wholly owned subsidiary devoted to human health. Acutia’s initial line of products will be rolled out in phases, beginning with Acutia Selenium. (Lanereport.com)
  • Dalan Animal Health announced that its first honeybee vaccine will be a monovalent vaccine that targets the highly contagious American foulbrood (AFB) disease, which is caused by the spore-forming pathogen Paenibacillus The AFB vaccine is in the clinical validation and scale-up phase; Dalan aims to secure conditional US approval for the product next year. (IHS Markit Connect)
  • UK Sure Petcare announced the launch of its latest product in its connected range, Felaqua Connect – a unique water delivery and drinking monitoring system for cats. Felaqua Connect allows cat owners to keep track of their cats’ daily water intake via the Sure Petcare App, while the smart water delivery system provides the cat with a source of fresh water. Sure Petcare, along with HOMEAGAIN, is a Companion Animal portfolio of digital products within Merck Animal Health. (Realwire)
  • UK Dechra Veterinary Products announced the UK launch of Cosacthen, the first veterinary licensed tetracosactide injectable to test adrenal function in dogs. (Vetsurgeon.com)
  • CANADA Airvet announced it has expanded its telehealth platform to Canada. The expansion followed the introduction of Airvet Assist, a single page interface designed as a one-stop shop for appointment setting, client communications, curbside check-in, live-video visits, doctor’s notes or dictations, and more. (Todays Veterinary Business)

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ANIMAL HEALTH STOCK PRICE TRACKER 

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ANIMAL HEALTH NEWS

  • WORLD – VETERINARY WELL-BEING The Federation of European Companion Animal Veterinary Associations (FECAVA) and World Small Animal Veterinary Association (WSAVA) have launched an infographic for veterinary practices around the world to help remind them of its ‘Global Principles of Veterinary Collegiality’, launched earlier this year. The infographic can be found here.    (association press release)
  • US – ONE HEALTH Legislation that would help implement a nationwide, One Health approach to zoonotic diseases has been reintroduced in both chambers of US Congress. The Advancing Emergency Preparedness Through One Health Act (S.861 /H.R. 2061) would establish a coordinated One Health Framework where government agencies work together to help better prevent, prepare for, and respond to zoonotic diseases, which can spread between animals and humans, posing a significant threat to human health. The AVMA is encouraging the veterinary community to contact Congress on this issue and urge their representatives to support the Advancing Emergency Preparedness Through One Health Act. (WattAgNet)

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BRAKKE CONSULTING VIEWPOINT
Recently, I read an article focused on how the animal health industry needs to help veterinarians adapt their patient interaction approaches to the needs and desires of today’s pet owners.  The author mentioned a recent panel at the Animal Health Innovation Europe conference comprised of representatives from Zoetis, BI and Covetrus that discussed industry trends.

Millennials represent the largest group of pet owners.  This societal class is the most technologically savvy and connected group ever.  Everything they seem to do is tied to their personal devices including much of their purchasing and personal interactions.

Recent research conducted by Brakke Consulting indicated that approximately 20% of veterinarians offer some form of electronic connection points with their customers (phone consultations, facetime, zoom, skype or veterinary specific software).  When will this catch up with other aspects of Millennial’s lives?

I realize it is hard to diagnose illness with a creature that can’t talk to you but with remote diagnostic tools such as microchips that can monitor movement, feeding and temperature, the prospects are there for remote diagnostics to expand, providing vets with critical diagnosis information.  It remains to be seen if this will shape the future of future vet/pet owner interactions.

Randy Freides

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YOUR VIEW

In last week’s polling question we asked whether you thought the Animal Health Industry would experience another mega (>$1 billion) consolidation transaction within the next three years.  51% of respondents said it was Highly Likely that a >$1B transaction would occur; 29% said it was possible; and only 8% responded that it was highly unlikely or would not happen.  The gap between the top four companies and the rest of the field continues to grow.  It seems the only way to quickly build the scale necessary to compete with the top four companies is through a merger or acquisition.  I wonder what the odds are in Vegas???

This week

Microchips for use in pet identification and recovery are commonplace today and in fact, some can currently monitor body temperature.

If you own a cat or a dog and assuming cost is not an issue, would you be willing to have a microchip implanted into your pet that monitors their vital signs and behavior and sends this data to your mobile phone?

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