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Brakke Consulting’s
Animal Health News & Notes for March 3, 2023
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
2023 Pain Management Products report – pre-order now
Earning News
Apiam Animal Health
Cryoport
CVS Group
Dechra Pharmaceuticals
Freshpet
Heska
J.M. Smucker
Patterson
PetIQ
Other News
Aurora Pharmaceutical
BioZyme
Felix Pharmaceuticals
Front Range Laboratories
LexaGene
Nutra Blend
Paramount
Paws Group
PetFriendly
Wedgewood Pharmacy
Zoetis
Zyvet
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BRAKKE CONSULTING
2023 PAIN MANAGEMENT PRODUCTS FOR DOGS AND CATS
PRE-ORDER BY MARCH 31 FOR DISCOUNT
Pain management is one of the leading topics in veterinary medicine today, and new, innovative products are changing the pain management paradigm. Is your company up-to-date on the latest trends in this important category?
Brakke Consulting’s annual report on Pain Management Products for Dogs and Cats includes such valuable information as:
– estimates of US sales and prices of leading products
– review of new and upcoming pain management products, including ZORBIUM and monoclonal antibody products SOLENSIA and LIBRELA
– discussion of the use of cannabinoids in veterinary pain management
– 2023 survey of 350 small animal veterinarians regarding use of pain management products
– Trended, aggregated practice-level data, powered by Vetsource, including chronic vs. acute use of analgesics, comparisons of analgesic revenue per patient by brand, and data on brand-switching at the patient level.
Pain Management Products for Dogs and Cats 2023 can be purchased for $8,450 if ordered by March 31, 2023, and $8,995 thereafter. The report will be completed in April. Questions about the study can be answered by project manager Lynn Fondon, DVM, MBA at info@brakkeconsulting.com.
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EARNINGS NEWS RELEASES
- Patterson Companies, Inc. reported results for its fiscal third quarter ended January 28, 2023. Reported net sales in the Animal Health segment were $969 million, a year-over-year increase of 2.6%. Animal health operating income was $30.2 million, an increase of 29%. (company press release)
- Dechra Pharmaceuticals reported results for the six months ended December 31, 2022. Group revenue was GBP 377 million ($454 million), an increase of 14% (+5 at constant exchange rate). Reported operating profit was GBP 44.6 million ($53.6 million), a decline of 22% (-27% at CER). North American Pharmaceuticals revenue was GBP 170 million ($205 million), an increase of 35% (+16% at CER). (company website)
- Heska Corporation reported financial results for the full year 2022. Consolidated revenue was $257 million, a year-over-year increase of 1.4% on a reported basis and 5.4% on a constant currency basis. Net loss attributable to Heska was $(19.9) million compared to a net loss of $(1.1) million in 2021. North America Segment revenue for the year was $162 million, an increase of 1.8%. (seekingalpha)
- PetIQ, reported financial results for the full year 2022. Net sales were $922 million, a year-over-year decline of 1%. Product segment net sales were $800 million (down 3%) and Services segment net revenues were $121 million (up 13%). Net loss was $(48.2) million, compared to a net loss of $(16.0) million in 2021. (company press release)
- The M. Smucker Co. announced results for the third quarter ended January 31, 2023, of its 2023 fiscal year. Revenue for the U.S. Retail Pet Foods segment was $759 million, a year-over-year increase of 9%. Segment profit was $109 million, an increase of 14%. (seekingalpha)
- Freshpet, Inc. reported financial results for the full year 2022. Net sales were $595.3 million, an increase of 39.9%. Net loss was $(59.5) million compared to a net loss of $(29.7) million. (seekingalpha)
- Cryoport, Inc. announced financial results for the full year 2022. Animal Health revenues were $33 million, unchanged from 2021. (PRnewswire)
- CVS Group reported results for the first half of fiscal 2023. Revenue was GBP 296 million ($356 million), an increase of 8% from the prior-year period. Net income was GBP 21.1 million ($25.4 million), up 21%. (Yahoo)
- Apiam Animal Health Limited announced results for the 6-months to December 31, 2022 (H1 FY23). Total Apiam Group revenue increased 25% to A$93.7 million (US$63 million). Underlying NPAT was A$3.7 million (US$2.5 million), up 15%. (abnnewswire)
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COMPANY NEWS RELEASES
- Zoetis announced it has received a $15.3 million grant from the Bill & Melinda Gates Foundation to help Zoetis to expand its original African Livestock Productivity and Health Advancement (A.L.P.H.A.) initiative to include aquaculture in addition to cattle, poultry, and swine in an additional seven countries in Sub-Saharan Africa. (company press release)
- The FDA announced the approval of Aurora Pharmaceutical’s EpriGard (generic eprinomectin) topical solution for beef and dairy cattle. (FDA)
- The FDA announced the supplemental approval of Felix Pharmaceuticals’ Parasedge Multi (generic moxidectin + imidacloprid) for Cats for use in ferrets. (FDA)
- The FDA announced the approval of Zyvet’s generic Carprofen Chewable for dogs, and Enrofloxacin Flavored Tablets for use in dogs and cats. (FDA)
- Wedgewood Pharmacy announced it has acquired Front Range Laboratories (FRL) in Loveland, CO. FRL provides analytical and microbiological testing as well as product stability and other services to support the testing needs of pharmacies across the country. Financial terms were not disclosed. (company press release)
- BioZyme, announced that Nutra Blend, LLC, will be the first US distributor for AO-Biotics EQE, the first and only postbiotic developed specifically for layers utilizing patent pending technology. (company press release)
- LexaGene Holdings, Inc., which commercialized the MiQLab System, announced that it has ceased operations, laid off its staff, and, together with its direct subsidiary LexaGene, Inc., and its indirect subsidiary Bionomics Diagnostics, Inc., filed a voluntary petition for relief under Chapter 7 of the US Bankruptcy Code. (Globenewswire)
- PetFriendly announced the launch of Brilliant! Dental Care for Dogs, a click & lick dental stick formulated with active ingredients that fight plaque and tartar. (Globenewswire)
- UK Paramount announced it has acquired 4 online retailers – Fetch, Medic Animal, Pet Supermarket, and Pet Meds – and two pet food brands – Bob & Lush and K9 Choice – from Paws Group. Together these brands generated a turnover of GBP 50 million ($60M) in 2021. Financial terms were not disclosed. (Globalpets)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – DRUG REGULATION The FDA announced that it has taken action to restrict the unlawful entry of xylazine active pharmaceutical ingredients and finished dosage form drug products into the country to address a growing public health concern. This action aims to prevent the drug from entering the U.S. market for illicit purposes, while maintaining availability for its legitimate uses in animals. (FDA)
- US – VETERINARY STUDENT DEBT A bill recently introduced in the California Assembly would offer up to $150,000 in student debt relief to licensed California veterinarians who agree to work for an animal shelter in the state or in underserved communities for at least five years, the San Diego Union-Tribune reports. The bill is co-sponsored by the San Diego Humane Society and the San Francisco SPCA. (Vet Advantage – San Diego Union-Tribune)
- WORLD – CARE GUIDELINES The American College of Veterinary Radiology and European College of Veterinary Diagnostic Imaging have released a consensus statement for the standardization of the abdominal ultrasound examination in dogs and cats, published as an open-access article in Veterinary Radiology & Ultrasound. (AVMA)
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BRAKKE CONSULTING VIEWPOINT
A couple of weeks ago, we reported in the newsletter about Arkansas’ efforts to legalize the use of Veterinary Technician Specialists (VTS) – a certification of advanced training – to handle some tasks that only licensed veterinarians can currently perform. Examples would include prescribing some drugs and performing minor procedures such as suturing. The objective of the bill is to expand access to veterinary care in the state, which currently struggles with a shortage of veterinarians.
It’s a solution that follows the human model of using Physician’s Assistants and Nurse Practitioners to manage some of the routine care needs of patients. While in theory it would seem to offer a way for veterinary practices to be more efficient and see more patients, I wonder about the degree to which the veterinary profession would fully utilize this potential new resource.
Recently, we surveyed veterinarians as part of our annual industry overview, and asked what one improvement they could make that would most impact their practice productivity. The #1 response was to improve their staff utilization and training. If veterinarians know that they aren’t getting the most out of the staff they have now, would anything change with the addition of VTS-certified staff who can perform higher-level tasks? It may require more than just legally permitting technicians with advanced certification to take some of the load off of over-worked veterinarians; the profession may also need to shift the mindset of DVMs so they more consistently prioritize training for staff, and then empower the staff members take on new responsibilities within the practice.
Lynn Fondon
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YOUR VIEW
Last week, we asked your thoughts on the supply of veterinarians in the US. Most of you – 61% – feel that there is a shortage, and half of those think it is a severe shortage. 24% think that there are too many vets working not enough hours, or have left the profession, due to compensation issues. 9% think there are just enough veterinarians, and 7% think there are more than enough.
This week
February was National Pet Dental Health Month. With that in mind, let’s find out how you approach your pets’ dental care.
Which of the following do you regularly do for your pets? (check all that apply)
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