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Brakke Consulting’s
Animal Health News & Notes for November 13, 2020
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke News
2020 Flea, Tick and Heartworm Products report – last day for pre-order discount!
Earnings News
Alivira Animal Health
Covetrus
Elanco
Kindred Biosciences
Ouro Fino
Zomedica
Other News
Adamis Pharmaceuticals
AquaBounty
Boehringer Ingelheim
Chewy
Elanco
Nestlé Purina
NAVC
Petco
Petplan
Wagmo
Walkin’ Pets
Walmart
Zoetis (Librela)
Zoetis (Simparica China)
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2020 US FLEA CONTROL AND HEARTWORM MARKETS REPORT
EARLY-BIRD DISCOUNT ENDS TODAY!
Are you on top of the trends in the largest market segment in companion animal health? Brakke Consulting will soon be publishing our 2020 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 SIMPARICA TRIO, BRAVECTO PLUS,BRAVECTO 1-MONTH, and GENERIC SELAMECTIN PRODUCTS
– 2020 survey of 300+ veterinarians
– 2020 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 13, 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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COMPANY EARNINGS RELEASES
- Elanco Animal Health reported its financial results for the third quarter of 2020. Total revenue was $890 million, an increase of 15% (16% currency adjusted). Revenue for the quarter was comprised of $694 million from the legacy Elanco portfolio and $196 million from the legacy Bayer Animal Health portfolio (acquired August 1, 2020). Gross profit was $448 million compared with $411 million for the third quarter of 2019. Net loss was $(135.0) million compared with net income of $10.0 million for the same period in 2019. (company press release)
- Covetrus, Inc. announced financial results for the third quarter of 2020. Net sales for the third quarter of 2020 were $1.13 billion, an increase of 11% compared to the third quarter of 2019. Net loss attributable to Covetrus was $(35) million, which compared to a net loss in the third quarter of 2019 of $(959) million. The primary driver of the year-over-year improvement was the $939 million goodwill impairment charge recorded in the prior year period. Non-GAAP adjusted net income was $30 million compared to $19 million in the prior year period. (company press release)
- Ouro Fino Saúde Animal reported results for the third quarter of 2020. Revenues were R$225.2 million ($41.8 million), a 46% improvement compared to the third quarter of 2019. Ouro Fino’s adjusted EBITDA improved 246% to R$45.7 million ($8.5 million). (IHS Markit Connect)
- SeQuent Scientific Limited announced its financial results for the period ended September 30, 2020. Revenues for Alivira Animal Health were $46.5 million, an increase of 22% compared to the prior-year period. Net profit was $4.0 million compared to a net profit of $2.9 million in the comparable prior-year period. (company press release)
- Kindred Biosciences, Inc. announced financial results for the third quarter ended September 30, 2020. Net revenues were $1.0 million compared with $1.1 million for the same period of 2019. Net loss was $(12.2) million, as compared to a net loss of $(15.3) million for the same period in 2019. As of September 30, 2020, KindredBio had $66.8 million in cash, cash equivalents and investments, compared with $73.5 million as of December 31, 2019. (PRNewswire)
- Zomedica Corp. reported consolidated financial results for the third quarter of 2020. Zomedica recorded net loss of approximately $(5.0) million, compared to a loss of approximately $(2.8) million for the quarter ended September 30, 2019. As of September 30, 2020, Zomedica had cash of approximately $52.0 million, compared to $510,586 as of December 31, 2019. The increase in cash resulted primarily from the financing activities. (company press release)
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COMPANY NEWS RELEASES
- Chewy, Inc. announced that it is expanding its Pharmacy (Rx) business to now offer compounded medications that are customized to the specific needs of pets. Customers can order from Chewy in the same way they do their other medications. In the future, the company plans to expand its offering to veterinarians who can utilize the service to provide compounded medication options to their in-clinic customers. (company press release)
- Petco announced plans to go public after having submitted a registration statement for a proposed public offering of common stock. The number of shares and price range for Petco’s initial public offering (IPO) have not yet been determined. (Petfoodprocessing.net)
- Walmart announced the launch of Walmart Pet Care – a full-service, omnichannel pet care offering that leverages industry-leading providers to bring customers trusted pet care programs in one place, including Walmart Pet Insurance (provided by Petplan) and convenient pet care services like dog-walking and pet sitting. (company press release)
- Wagmo pet health insurance announced it is now available in Texas, raising to 13 the number of states where the company’s injury and illness coverage is sold to dog and cat owners. Wagmo launched its insurance plans in 2020; its other product, Wagmo Wellness preventive care coverage, was introduced in 2018 and can be found nationwide. (Todays Veterinary Business)
- Adamis Pharmaceuticals Corporation announced the signing of an agreement making it the sole US distributor of Arthramid Vet, a patented polyacrylamide hydrogel (PAAG) for intra-articular injection for management of osteoarthritis and degenerative joint disease in the horse. (TheHorse.com)
- After months of preparations for a world-class, fully integrated hybrid VMX Live and Virtual event, the NAVC has decided to move the dates of VMX 2021 to June 5-9, due to ongoing travel bans and restrictions beyond their control. (company press release)
- A California district judge has asked the FDA to reconsider the potential environmental risks of AquaBounty’s genetically engineered (GE) salmon, the first and only GE animal the FDA has approved for human consumption. The ruling from the judge requires the FDA to update its environmental assessment under the National Environmental Policy Act (NEPA) and Endangered Species Act (ESA). The FDA approved AquaBounty’s GE salmon in 2015, declaring it as “safe and nutritious to eat” as conventional salmon after completing a new animal drug review under the Federal Food, Drug and Cosmetic Act (FDCA) that spanned more than 20 years. (IHS Markit Connect)
- Walkin’ Pets introduced the Warrior Harness, its newest harness for the Walkin’ Wheels dog wheelchair. The Warrior Harness is available in 5 sizes to fit all size dogs. (company press release)
- EU Zoetis announced that the European Commission has granted the company marketing authorization for Librela (bedinvetmab), the first injectable monoclonal antibody (mAb) therapy approved in the European Union for monthly alleviation of osteoarthritis (OA) pain in dogs. Librela, which effectively controls OA pain for a month, binds to Nerve Growth Factor (NGF), a key player in OA pain. (company press release)
- EU Boehringer Ingelheim announced that the European Medicines Agency’s Committee for Medicinal Products for Veterinary Use (CVMP) has adopted a positive opinion for NexGard Combo (esafoxolaner, eprinomectin and praziquantel), a new spot-on solution for cats NexGard Combo protects cats against fleas, ticks, ear mites, nematodes and tapeworms. (IHS Markit Connect)
- EU Elanco announced that the European Medicines Agency’s Committee for Medicinal Products for Veterinary Use (CVMP) adopted a positive opinion for the approval of Increxxa (generic tulathromycin) for bovine and swine respiratory disease. (IHS Markit Connect)
- CHINA Zoetis has secured Chinese authorization for its Simparica (sarolaner) flea and tick tablets for dogs. (IHS Markit Connect)
- EU Nestlé Purina announced the launch of Beyond Nature’s Protein, a pet food includes insects as well as plant protein from fava beans and millet as a protein source. Purina Beyond Nature’s Protein will first be sold in Switzerland. The two initial recipes are based on chicken, pig’s liver and millet and insect protein (black soldier fly larvae), chicken and fava beans. Both recipes are available for dogs and cats. (GlobalPets)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – FOOD ANIMAL DISEASE SURVEILLANCE The National Pork Board launched a new tool called AgView to help the US pork industry respond faster than ever before possible in the event of a foreign animal disease outbreak. The web-based tool will help producers easily share their farm’s Foreign Animal Disease status updates and pig movement data with state animal health officials. The opt-in, no-fee technology is funded by the Pork Checkoff, and it will allow for contact-tracing of infected animals to help rapidly contain or regionalize a potential foreign animal disease outbreak. (NewsDakota.com)
- US – MUMS The FDA is extending the comment period for draft Guidance for Industry #61, entitled “Special Considerations, Incentives, and Programs to Support the Approval of New Animal Drugs for Minor Uses and for Minor Species,” by 60 days. The comment period will now close January 11, 2021. To electronically submit comments to the docket, visit regulations.gov and type FDA-1997-D-0444 in the search box. (FDA)
- NETHERLANDS – POULTRY RESEARCH Scientists at Wageningen University & Research (WUR) in collaboration with Utrecht University have succeeded in developing a new tracking system that follows broilers through the pen with a tag on their leg, which could record the activity levels of individual broilers throughout their life. The research was published in the scientific journal (Feedstuffs)
- UK – SWINE RESEARCH The UK’s Newcastle University and Queens University Belfast have developed a 2D camera-based deep learning system to identify health issues in pigs. The technology is based on convolutional neural networks and can automatically detect pig feeding behavior without the use of additional sensors or individual marking. The study was published in the journal Biosystems Engineering and can be read in full here. (IHS Markit Connect)
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BRAKKE CONSULTING VIEWPOINT
When coming to the close of the year, I always look back at what has been accomplished and what progress was made. This year will go down as a big “had to” year. Such as, “I didn’t think we could do that until we had to.” These years are not easy, but usually rewarding when you realize how accomplishing “had tos” contributes to broadening your horizons.
This year had to incorporate the term “global pandemic” into our lives. We had to keep customer contact without traditional sales calls. We had to find a way to curbside almost everything, including veterinary medicine. We had to work from home, while staying connected, productive and in relative harmony with the family. I am sure you have your own unique list of “had tos” you have accomplished this year?
Mastering the “had tos” creates the new normal.
Cary Christensen
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YOUR VIEW
Last week we asked, “How will your company do against plan in 2020?”
It would appear from your responses the vast majority of you will not be receiving a lump of coal for a 2020 bonus. Over ninety-five percent of you said you expect to come in over plan, with 20% of you believing you will exceed plan by more than 10%.
This week
This week we’re asking about your Thanksgiving plans:
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