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Brakke Consulting’s
Animal Health News & Notes for November 10, 2023
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
2023 Flea Control & Heartworm Markets report – pre-order discount ends Nov. 17
2023 Pet Medications Home Delivery Study – pre-order discount ends Nov. 15
Earnings News
BARK
Cryoport
Elanco
Freshpet
Pet Valu
PetIQ
Phibro
Trupanion
Other News
Antech
BioFeyn
Bionote USA
Bregal Partners
Central Garden & Pet
Fera Pets
GekkoVet
General Mills
IDEXX
Lick Sleeve
Mars
MBF Therapeutics
Merck
MinXray
PetPath
Phibro
Royal Canin
TDBBS
Veterinary Pathology Group
VetSnap
VolitionRx
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Brakke Consulting
2023 US FLEA CONTROL AND HEARTWORM MARKETS REPORT
EARLY-BIRD DISCOUNT ENDS NOV. 17
Are you on top of the trends in the largest market segment in companion animal health? Brakke Consulting will soon be publishing our 2023 report on the US Flea Control and Heartworm Markets.
The report includes valuable information on the US market for small animal parasiticides including:
– Product descriptions, prices (veterinarian cost and online pricing), and sales for the leading veterinary flea, tick and heartworm products
– an overview of the veterinary and OTC flea control markets
– discussion of new product launches, including NEXGARD PLUS and NEXGARD COMBO
– 2023 survey of 400 veterinarians
– 2023 survey of 500 pet owners
The report on the US Flea Control & Heartworm Markets will be available for a purchase price of $7,495 if ordered by FRIDAY, NOVEMBER 17, and $7,995 after that date.
Please contact Dr. Lynn Fondon at 336-396-3916 or lfondon@brakkeconsulting.com to pre-order the report, or for more information visit our website.
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EARNINGS NEWS RELEASES
- Elanco Animal Health Incorporated reported financial results for the third quarter of 2023. Revenue was $1,068 million, an increase of 4% compared to the prior-year quarter (+5% excluding the impact of foreign exchange rates). Reported net loss was $(1,096) million, inclusive of a non-cash goodwill impairment charge of $1,042 million; compared with net loss of $(65) million for the same period in 2022. (company press release)
- Phibro Animal Health Corporation announced financial results for its first quarter ended September 30, 2023. Animal Health net sales were $161 million, a year-over-year increase of 4%. Animal Health adjusted EBITDA was $28.5 million, a 6% increase. (company press release)
- Freshpet, Inc. reported financial results for the third quarter of 2023. Net sales were $200.6 million, an increase of 33%. Net loss was $(7.2) million, compared with prior year net loss of $(18.4) million. (seekingalpha)
- PetIQ, Inc. reported financial results for the third quarter of 2023. Net sales were $277 million, an increase of 32% compared to the prior-year quarter. Products segment net sales were $240 million, an increase of 36%. Services segment net revenues were $37 million, an increase of 11.5%. Net income was $0.5 million, compared to net loss of $(49.6) million in the prior-year period. (company press release)
- BARK, Inc. announced its financial results for the fiscal second quarter ended September 30, 2023. Total revenue was $123 million, a 14% decrease compared to the same period last year. Net loss was $(10.3) million compared to net loss of $(10.6) million in the prior-year quarter. (company website)
- Cryoport, Inc. announced financial results for the third quarter of 2023. Animal Health revenue was $6.9 million, a year-over-year decline of 28%. (Prnewswire)
- Trupanion, Inc. announced financial results for the third quarter of 2023. Total revenue was $286 million, an increase of 22% compared to the third quarter of 2022. Total enrolled pets was 1,712,177 at September 30, 2023, an increase of 19%. Net loss was $(4.0) million, compared to net loss of $(12.9) million in the third quarter of 2022. (seekingalpha)
- Pet Valu Holdings announced its financial results for the third quarter ended September 30, 2023. Revenue was C$262 million (US$190 million), an increase of 7% versus the prior year. Net income was C$18.0 million, (US$13 million) down from C$27.0 million in the prior year. Pet Valu ended the quarter with 766 stores across its Canadian network. (Seekingalpha)
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Brakke Consulting
Pet Medications Home Delivery Study
Pre-order by November 15 and save
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 at the end of 2023, is priced at $14,500. Pre-order by November 15 to receive a $2,000 discount. For more information, contact Richard Hayworth at rhayworth@brakkeconsulting.com or 214.422.2025.
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COMPANY NEWS RELEASES
- Merck Animal Health announced the launch of SEQUIVITY IAV-S NA (Swine Influenza Vaccine, N1 and N2, RNA Particle). The vaccine is designed to protect pigs against the H1N1, H1N2, and H3N2 influenza strains, and relies solely on the influenza neuraminidase (NA) surface antigen to provide immunity. (farms.com)
- IDEXX Laboratories, Inc. announced the upcoming launch of the SNAP Leish 4Dx Test, a comprehensive screening test for vector-borne diseases, including canine leishmaniosis. The test – which replace Lyme disease detection with detection of leishmaniosis in the SNAP 4Dx Plus testing platform – will be available in Europe and Asia beginning February 2024. (company press release)
- Central Garden & Pet announced today that it has acquired TDBBS, LLC from Bregal Partners. TDBBS is a provider of premium natural dog chews and treats and will expand Central’s portfolio with bully and collagen sticks, bones and jerky, and further strengthen Central’s eCommerce and digital capabilities. (company press release)
- The FDA’s Center for Veterinary Medicine (CVM) provided notice of a Federal Register publication issuing a final order to revoke the approved method for detecting residues of carbadox; and a second Federal Register publication proposing to withdraw approval of all new animal drug applications (NADAs) providing for use of carbadox in medicated swine feed and announcing an opportunity for Phibro – manufacturer of Mecadox (carbadox) – to request a hearing on this proposal, based on CVM’s determination that there is no approved regulatory method to detect carbadox residues in the edible tissues of the treated swine. Phibro in a statement said that it is extremely disappointed in the actions taken by the FDA and believes fully in the safety of Mecadox, which has been approved and sold in the US for more than 50 years. (company press release)
- General Mills, Inc. announced the acquisition of Fera Pets, Inc., a vet-founded pet supplement company. The acquisition represents General Mills’ first step into the pet supplement category. Financial terms were not disclosed. (company press release)
- Bionote USA introduced a new foal immunoglobulin G (IgG) test as part of its Vcheck product line. (company press release)
- MBF Therapeutics and CSIRO, Australia’s national science agency, announced a collaboration to evaluate MBFT’s novel DNA vaccine candidate for African swine fever. MBFT’s proprietary T-Max Precision DNA vaccine platform delivers vaccines mucosally to provide safe, durable, broad cross-protection against diseases of concern to livestock and poultry. (company press release)
- MinXray, announced it has added a line of wireless handheld ultrasound units to speed diagnosis and improve triage efficiency in veterinary care. (company press release)
- Lick Sleeve – an alternative to traditional e-collars – has partnered with PetPath to launch a free interactive care path dedicated to aiding pet owners in managing their dog’s recovery after TPLO surgery. The sponsored TPLO path features include: daily recovery guidance sourced from TPLOinfo.com; guided checklists; instructional videos; and interactive questions. (streetinsider)
- BioFeyn announced a partnership with Nord University to develop a targeted, modular, delivery mechanism for aquafeed for salmon raised via aquaculture. The system coats vitamins, minerals, and other nutrients in a shell of naturally derived compounds via nanoencapsulation. (com)
- VetSnap, a DEA-compliant digital controlled drug log software, announced the release of a new feature that automates state Prescription Monitoring Program reporting. (company press release)
- INDIA Royal Canin and Mars announced a new collaboration with GekkoVet and launched the application to provide the latest digital solutions and knowledge to veterinarians based in emerging markets, to support decision-making capabilities. Gekkovet is an AI based algorithm which will help vets in improving the quality and speed of clinical decision-making. (Media Brief)
- UK Antech announced the expansion of its UK lab network with the opening of a new UK veterinary diagnostics laboratory in Warwick. The new facility brings to the UK a complete portfolio that spans reference laboratory services, in-house diagnostics, comprehensive imaging and technology solutions, advanced telemedicine services and innovative rapid diagnostics. (prnewswire)
- UK VolitionRx Limited and Veterinary Pathology Group (VPG) announced they have joined forces to launch the Nu.Q Vet Cancer Test to veterinary practices in the UK and Ireland. (com)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- The American Animal Hospital Association (AAHA) announced the publication of the 2023 AAHA Management of Allergic Skin Diseases in Dogs and Cats Guidelines intended to provide a systematic approach to identifying and treating allergic skin diseases in these animals. (AVMA)
- US – DRUG REGULATION Veterinarians in North Carolina will soon need to report prescriptions for gabapentin through a special program after a bill was recently signed into law. The change making gabapentin a reportable substance becomes effective on March 1, 2024. (com)
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BRAKKE CONSULTING VIEWPOINT
I recently read an article in the Wall Street Journal titled, “You Can Tell Rover He’s a Bad Dog From 3,000 Miles Away”. I laughed at some of the video clips attached to the article. The article highlights how technology, and the use of home video cameras are being used to monitor pet behavior while we are out of the house or at work.
I find this a complete violation of pet privacy. What happens when left alone adds to the surprise when you return home. Gone are the days when you come home to find the trash strewn over the kitchen floor, pillows and shoes being shredded and plants being knocked over. What has this world come to?
In the article pet trainers are asked how best to eliminate bad behaviors. Scolding your dog or providing treats to distract them from their bad behavioral choices might not be the best approach. They say the attention gained during periods of bad acting reinforces that behavior. Trainers suggest talking to your pet when they are behaving well and reward proper behavior vs. negative reinforcement of bad behavior.
Technology is all around us: GPS tracking, remote treat dispensers, video cameras, etc. Our pets can’t get away with sneak attacks on the garbage pail or worse yet, the Christmas tree any longer. I only hope governments don’t take extreme measures, implementing laws protecting the privacy of our pets while they are home alone.
Randy Freides
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YOUR VIEW
Last week, we asked you about non-competes. 79% of you agreed that non-competes should be eliminated; 33% of you said that you are currently subject to a non-compete.
This week
Have you ever monitored your pet’s behavior remotely?
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