Animal Health News & Notes for November 18, 2022

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Brakke Consulting’s
Animal Health News & Notes for November 18, 2022
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Animal Health Jobs

Earnings News
Better Choice Company
Jaguar Health
Ourofino Saúde Animal
Pet Valu
PetVivo Holdings
Sumitomo Pharma Animal Health
Vimian
Zomedica

Other News
Aflac
Alta Partners
Animab
Augmedix
BetterVet
Chewy
Connecticut Innovations
Dairy Tech
DVMetrics
EarthWise Pet
Elanco
ElleVet Sciences
Fatro
Fear Free
H.W. Naylor
Heska
Ishihara Sangyo Kaisha
MAI Animal Health
Mars Companion Fund
MySimplePetLab
Neogen
Operation Good Boy
Patterson Companies
Qbic III
Quadrel
Rover’s Wellness
Tenacious Labs
Tonisity International
Torigen Pharmaceuticals
Trupanion
Vet2Pet
Vets Plus
Vetsource
Vetster
VetSuccess
VetWelding
Werth Family Investment Associates

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ANIMAL HEALTH JOBS

With today’s tight competition for top animal health talent, you need every advantage to attract the best people. There’s a reason Animal Health Jobs is the premier job board for the animal health and animal nutrition industry. We are fanatics about matching the best candidates with the right jobs. A real person screens each candidate’s resumé for relevant experience, ensuring a high-quality talent pool.

With our tiered packages, you choose the level of service that’s right for your company. We accept roles across animal health, in marketing, business development, communications, technical services, sales, R&D and more. Whether you need a cat, dog, horse, pig, cattle or poultry person, you’ll find the best ones here.

If you need top talent, there’s no time to wait. Register your company or call us at 1-252-203-0033.

www.AnimalHealthJobs.com

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EARNINGS NEWS RELEASES

• Ourofino Saúde Animal reported results for the third quarter of 2022. Sales were R$280.7 million ($53.3 million), a year-over-year increase of 20%. Net income was R$44.8 million ($8.5 million), up 29% from 3Q 2021. (st)
• Sumitomo Pharma Animal Health reported results for the first half of its fiscal 2022 ended September. Animal health product sales were JPY3,080 million ($22.1 million), a year-on-year increase of 10%. (IHS Markit Connect – subscription)
• Vimian announced results for the third quarter of 2022. Sales were EUR 70.9 million ($73.9 million), representing year-on-year growth of 71% and organic growth of 5.2%. Adjusted EBITDA was EUR 17.2 million ($17.9 million), an increase of 49%. (IHS Markit Connect – subscription)
• Zomedica reported consolidated financial results for the third quarter of 2022. Total revenue was $4.78 million, compared to $0.02 million in the third quarter of 2021; and a 17% increase, on a pro-forma basis, over the combined revenue of Zomedica, Pulse Veterinary Technologies and Assisi Animal Health as standalone companies. Net loss was $(5.0) million, compared to a net loss of $(6.35) million for the three months ended September 30, 2021. (Seekingalpha)
• PetVivo Holdings, Inc. announced financial results for the second quarter of fiscal year 2023 ended September 30, 2022. Revenues were $223,280 compared to revenues of $4,977 in the prior-year quarter. Net loss was $(2.1) million compared to a net loss of $(1.1) million for the prior-year quarter. (Globenewswire)
• Jaguar Health reported results for the third quarter of 2022. Prescription product net revenue during the third quarter of 2022 was $3.1 million, an increase of approximately 412% over prescription the third quarter of 2021. Revenues for the non-prescription Neonorm products and Jaguar’s Animal Health business unit were minimal for the third quarters of 2022. Net loss was $(12.5) million compared to a net loss of  $(12.2) million in the prior-year quarter. (Seekingalpha)
• Pet Valu reported results for the third quarter of 2022. Revenue was C$244.7 million ($184M), a year-over-year increase of 22%. Net income increased 11% to C$27 million ($20.3M). (Globalpets)
• Better Choice Company , announced results for the third quarter of 2022. Gross sales totaled $14.2 million and net sales totaled $11.9 million, a decrease from $13.2 million year-over-year. (Petfood Processing – subscription)

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COMPANY NEWS RELEASES

• The FDA announced it has conditionally approved Ishihara Sangyo Kaisha‘s Panoquell-CA1 (fuzapladib sodium for injection) for the management of clinical signs associated with acute onset of pancreatitis in dogs. According to the FDA, Panoquell-CA1 is the first drug to address pancreatitis, a disease that previously could only be managed through supportive care. (FDA)
• Patterson Companies, Inc. announced that it has, through a subsidiary, signed an agreement to acquire substantially all of the assets of Dairy Tech, Inc., a company that provides pasteurizing equipment and single-use bags that allow dairy producers to produce, store and feed colostrum for newborn calves, as well as product offerings for beef cattle producers. Financial terms were not disclosed. (company press release)
• Neogen Corporation announced that it has released an upgraded version of its best-selling Ideal D3 detectable needles, designed to be six times more detectable than the conventional and stainless-steel needles. (PRnewswire)
• Heska announced it has received USDA approval for its truRapid canine heartworm test. (IHS Markit Connect – subscription)
• Vets Plus announced that Paul Hays has been appointed Chief Executive Officer. (company press release)
• MySimplePetLab announced a Series A led by Mars Companion Fund with participation from founding investors. MySimplePetLab offers routine testing for common health concerns among dog and cat owners. Veterinarians or pet parents receive an easy-to-use kit in the mail for sample collection that is then shipped back to MySimplePetLab. (com)
• Torigen Pharmaceuticals, Inc. announced it has closed its $13 million Series A1 round led by Werth Family Investment Associates, LLC and Connecticut Innovations, (PRweb)
• MAI Animal Health announced a partnership with Swiss-based VetWelding SA to introduce VetWelding’s Ultrasonic Resorbable Implant technology known as Bone Welding to oral maxillofacial and orthopedic veterinary specialists. The partnership provides distribution in North America, New Zealand, and Australia through MAI Animal Health’s sales team and their distributor network. (company press release)
• Vetsource launched a new brand identity to signal the official start of three brands coming together as a single, unified portfolio of solutions for the veterinary industry. Previous acquisitions Vet2Pet and VetSuccess are now part of the Vetsource brand; the Vet2Pet name will be retained as a product name. (company press release)
• W. Naylor Co., Inc. announced its broadened distribution throughout North America with Chewy. (EINnews)
• Tenacious Labs, an international consumer products group, announced has acquired Rover’s Wellness, a company that creates organically grown true broad spectrum hemp oil products for pets. Financial terms were not disclosed. (Pet Business)
• New purpose-driven pet company Operation Good Boy (OGB) officially launched to celebrate veterans and active-duty military, pet parents and dogs. OGB offers a portfolio of premium products, including military-grade gear, supplements and treats for dogs and are available via its e-commerce website. (Petfood Processing)
• Fear Free and ElleVet Sciences announced a partnership to educate and provide a multi-modal approach to addressing fear or stress responses in pets. (Pet Business)
• BetterVet, Inc., a mobile veterinary network, announced that it has secured $40 million in Series A financing co-led by Alta Partners and BetterVet’s CEO and co-founder. (PRNewswire)
• Vetster announced the launch of the Vetster for Veterinarians mobile app for Android and iOS. The app complements the company’s existing web-app. (PRweb)
• DVMetrics announced the availability of the CVP App for iOS, allowing iPhone users access to the newest version of the app. The app has convenient tables, indexes and charts to further assist users in understanding product use. (Vet Advantage)
• Augmedix announced its first-ever partnership in veterinary services with Veterinary Specialty Center. Augmedix offers medical documentation and data solutions to healthcare systems, physician practices, hospitals, and telemedicine practitioners. (Globenewswire)
• EarthWise Pet announced the acquisition of 42 franchise locations and independently branded stores. With this acquisition, EarthWise Pet expands to over 170 locations. Terms of the transaction were not disclosed. (Pet Business)
• EU Elanco Animal Health and Tonisity International announced a distribution and promotion agreement in respect of Tonisity’s novel, gut enhancing porcine products, Tonisity Px and Tonisity PxW. Elanco will act as exclusive distributor of Tonisity’s swine products in Brazil, Belgium, Denmark, France, Germany, Norway, Portugal, Spain, Sweden, and The Netherlands. The companies will explore collaboration opportunities in other markets, when appropriate. (Feedstuffs – subscription)
• ITALY Fatro announced it has acquired Quadrel, which owns intellectual property and patents for QL-A02. QL-A02 is a drug candidate that has shown very high activity against Leishmania in mice, hamsters and dogs. Financial terms were not disclosed. (IHS Markit Connect – subscription)
• JAPAN Aflac Incorporated and Trupanion, Inc. announced the launch of Aflac Pet Insurance, a joint venture between Aflac Life Insurance Japan and Trupanion to provide pet insurance in Japan. (company press release)
• BELGIUM Belgian start-up Animab announced it has closed a EUR 10 million ($10.2 million) series A investment round to support its livestock antibody platform for the prevention of intestinal infections in livestock. The investment round was led by the venture capital fund Qbic III with participation from existing investors. (IHS Markit Connect – subscription)

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ANIMAL HEALTH STOCK PRICE TRACKER

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ANIMAL HEALTH NEWS

• US – SHELTER MEDICINE The Association of Shelter Veterinarians announced the launch of the Journal of Shelter Medicine & Community Animal Health. The association calls it the first academic journal devoted to shelter and community medicine. (Vet Advantage)
• US – BOVINE BRUCELLOSIS PLAN The USDA’s Animal and Plant Health Inspection Service (APHIS) is updating the National Bovine Brucellosis Surveillance Plan to better meet current program needs while still maintaining disease-free status with the World Organization for Animal Health (WOAH). The plan will primarily use risk-based slaughter surveillance, focusing on plants that process cattle from the GYA. APHIS will also continue to conduct and support targeted surveillance. (Feedstuffs – subscription)

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BRAKKE CONSULTING VIEWPOINT
Let’s face it animal health and nutrition industry: we’ve got a digital problem. It’s not just us! Nearly everyone is searching for talent with digital skills.

Increasingly, filling the top of the sales funnel via digital marketing such as social media advertising, makes or breaks us. How to execute in these new media? How to gauge our success in this new frontier?

The implications of not knowing are profound. RAND recently surveyed over 1000 companies worldwide, with 54% citing a “shortage of digital talent (that) has led to a loss in competitive advantage.” Management consultant Wiley reported that the US ranks 26th in their Digital Skills Gap Index! RAND urges teaching digital skills in primary school.

The experts at PayMo recommend starting with upper management. Digital skills awareness isn’t just for marketers. They’re a strategic and organizational ball of wax. Familiarize your general managers. Skills most in demand, according to Wharton are data analysis, SEO, social media marketing, content marketing, and video marketing.

How should you address this need? Along with your management, you can train your team members via online tools. You can rely on your agency and if you dare, your media reps. But for the long term, all of us should be recruiting for these essential skills – we can help.

Jeff Santosuosso
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YOUR VIEW
Last week’s survey asked about how the election results would affect our industry. Slightly more than half (56%) said “No Effect,” with the other half evenly distributed between Negative (19%) and Positive Impact (25%). The intensity was slightly higher on the Negative side.

This week
This week’s question: How comfortable are you with your organization’s digital talent and strategy?