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Brakke Consulting’s
Animal Health News & Notes for March 28, 2025
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Cancer in Dogs and Cats report – now available
Earnings News
Chewy
JBS
Petco
Smithfield
Other News
Abac Capital
BeneVet Oncology
CowManager
Dial A Vet
Elanco
Freshpet
HABRI
Loyal
MOA Life Plus
NorthStrive Biosciences
Nuzoa
PAI Partners
Summit Veterinary Pharmaceuticals
Swedencare
Viticus Group
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Brakke Consulting
2025 Cancer in Dogs and Cats – now available
Did you know that cancer is the #1 cause of death in adult dogs? It’s also a leading health concern of dog owners. So how is cancer addressed by the veterinary profession, and what kind of market is there for veterinary cancer therapies?
Brakke Consulting’s new 2025 Cancer in Dogs and Cats report includes information on the incidence, diagnosis, and treatment of the common veterinary cancers. It covers currently approved veterinary therapies and those in development, as well as estimates of the numbers of pets treated.
The study includes a survey of 310 general veterinary practitioners about incidence of cancer and frequency of treatment; as well as a survey of 1,000 pet owners to determine what they are willing to pay to treat a pet with cancer.
The report is available for $8,500. For more information, please contact Dr. Lynn Fondon at info@brakkeconsulting.com.
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EARNINGS NEWS RELEASES
- Chewy, Inc. released its financial results for the fiscal year 2024 ended February 2, 2025. Net sales were $11.86 billion, a 6% increase year over year. Net income was $393 million, compared to net income of $40 million in the prior year. (company press release)
- Petco Health and Wellness Company, Inc. announced its full year 2024 financial results. Net revenue was $6.1 billion, a decrease of 2% year-over-year inclusive of the negative impact from the loss of the 53rd week in 2023. Comparable sales increased 0.3% year-over-year. GAAP net loss was $(101.8) million compared to GAAP net loss of $(1.3) billion last year, inclusive of a $1.2 billion non-cash goodwill impairment charge. (seekingalpha)
- Smithfield Foods reported results for the full year 2024. Net sales were $14.1 billion, a year-over-year decline of 3%. Operating profit was $1.1 billion compared to an operating loss of $(56) million in the prior year. (company press release)
- JBS reported earnings for the full year 2024. Revenue was R$417.0 billion ($72.5 billion), up 15% from 2023. Net income was R$9.62 billion ($1.7 billion), compared to a net loss of R$(1.06) billions in 2023. (st)
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COMPANY NEWS RELEASES
- The Human Animal Bond Research Institute (HABRI) and Freshpet, a fresh pet food brand, have announced a partnership to advance their shared goal of strengthening the human-animal bond through research, education and advocacy. (Petfood Industry)
- Privo Technologies Inc., announced the launch of BeneVet Oncology, a new subsidiary dedicated to improving the health and well-being of companion animals. BeneVet will adapt Privo’s advanced platforms, originally developed for human medicine, to enhance therapeutic options for animals. Initial research and development efforts will focus on cutaneous and subcutaneous solid tumors. (prnewswire)
- Loyal and the Senior Dog Veterinary Society announced they have joined forces to support veterinarians in providing care to senior canine patients. (company press release)
- PMGC Holdings Inc.’s wholly owned subsidiary, NorthStrive Biosciences announced an amendment to an existing License Agreement with Korean biotechnology company MOA Life Plus Co., Ltd. The Amendment expands the scope of Northstrive Biosciences’ license rights to all uses of EL-32 and EL-22 in animal health, including all applications as a feed additive. EL-22 leverages an engineered probiotic approach to address preserving muscle while patients are on weight loss treatments. (Globenewswire)
- Australian telehealth veterinary service Dial A Vet announced its expansion into Canada, the USA, and the UK. Priced at C$49, US$35, and GBP 30 per consultation, the rollout offers pet owners 24/7 access to Australian veterinarians for guidance on pet health, behavior, and preventative care. (com)
- Viticus Group, provider of the annual Western Veterinary Conference, announced its expansion to Nashville, Tennessee. The expansion includes WVC Nashville, a new veterinary continuing education conference, and a state-of- the-art hands-on education center. The inaugural WVC Nashville event is scheduled for summer 2026. (com)
- AUSTRALIA Elanco announced that Zolvix Plus (monepantel and abamectin) – a broad spectrum drench used in the sheep industry – is now registered for use in beef and non-lactating dairy cattle in Australia. Monepantel belongs to the amino-acetonitrile derivative family of anthelmintics, the first new broad spectrum drench class to be registered for use in cattle in Australia for nearly 40 years. (com)
- UK Swedencare AB announced it has acquired 100% of the shares in UK-based Summit Veterinary Pharmaceuticals Summit develops, produces, and sells animal health products for veterinary professionals in the UK and Hong Kong; and had annual revenues of GBP 7.3 million for 2024 calendar year. The initial purchase price is GBP 30 million ($39 million) along with a two-year earn-out arrangement. (marketscreener.com)
- SPAIN PAI Partners announced its agreement to acquire Nuzoa, a distributor of animal health products and services in Iberia, from Abac Capital. Financial terms were not disclosed. (company press release)
- CANADA CowManager announced the launch of Youngstock Monitor to producers in Canada. Youngstock Monitor is a new comprehensive solution to monitor calf behavior, providing real-time health alerts for early disease detection. (company press release)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- UK – AVIAN INFLUENZA The UK’s Chief Veterinary Officer has confirmed a case of influenza of avian origin (H5N1) in a single sheep in Yorkshire following repeat positive milk testing. The case was identified following routine surveillance of co-located livestock on a premises where avian influenza had been confirmed in captive birds. This is the first time this virus has been reported in a sheep. (uk)
- US – TELEMEDICINE A new bill introduced in Michigan’s House seeks to expand access to veterinary care through telemedicine. House Bill 4200 would allow licensed veterinarians to offer remote consultations under specific conditions: telemedicine visits would be allowed only after a veterinarian-client-patient relationship (VCPR) has been established through an in-person exam and client consent, and could also be used in emergencies. (Vet Candy)
- US – PET CARE The bipartisan People and Animals Well-being (PAW) Act, has been reintroduced in Congress, aiming to expand pet insurance access by making veterinary expenses eligible under Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). The bill allows pet owners to use up to $1,000 from these accounts for veterinary care or pet insurance while ensuring unlimited funds for service animals. (Veterinary Practice News)
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BRAKKE CONSULTING VIEWPOINT
In last week’s viewpoint, Lynn Fondon discussed how the veterinarian profession needs to look beyond price and fee increases to maintain revenue growth. I totally agree. Volume increases is critical to drive growth. This not only holds true for veterinarians but also for animal health companies.
First quarter earnings reports are right around the corner. With visits to veterinary clinics continuing to decline it will be interesting to see how 1Q25 revenues will be impacted. Those companies riding a wave of innovation in the companion animal business including Zoetis and Elanco may fare better than companies with aging product lines.
The latest wave of innovation fueling growth in companion animals is also geared toward driving patients back to the clinic for treatment, especially for monoclonal antibodies to address pain and dermatological conditions along with injectable parasiticides (expected in the next 12-18 months in the US). And we will not be surprised to see livestock perform well this year.
In the long run, volume growth is more important than raising prices because it drives sustainable revenue and market share gains – and it also has an impact on margin expansion. While raising prices has a significant and short-term impact on profitability, companies run the risk of a strong competitive response, of having weak commercial capabilities to support higher prices or of having customers decide not to purchase.
Randy Freides
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YOUR VIEW
Last week, we asked if you felt it is time for the US to begin vaccinating poultry against avian influenza. 83% of you said yes.
This week
To celebrate the publication of our Cancer in Dogs and Cats report, we will share a tidbit from the report’s pet owner survey. But first, let’s see if you can guess; we’ll let you know the answer next week.
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Chinese