Animal Health News & Notes for November 19, 2021
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
IN THE NEWS:
Brakke Consulting News
2021 Flea Tick & Heartworm Markets report – early order discount ends TODAY!
Alivira Animal Health
Ouro Fino Saúde Animal
ELIAS Animal Health
Encore Vet Group
Nestlé Purina PetCare
One Health Group
Pure Simple True
2021 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 2021 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 CREDELIO CAT, FRONTLINE SHIELD, and generic imidacloprid/moxidectin products
– 2021 survey of 400 veterinarians
– 2021 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 19, and $7,995 after that date.
Please contact Dr. Lynn Fondon at 336-396-3916 or email@example.com to pre-order the report, or for more information visit our website.
COMPANY EARNINGS RELEASES
- Petco Health and Wellness Company, Inc. released its financial results for its third quarter of 2021. Net revenue was $1.4 billion, up 15% versus prior year. Net income improved by $49.3 million from prior year to $52.8 million. (company press release)
- Ouro Fino Saúde Animal reported results for the third quarter of 2021. Sales improved 4% to R$234.8 million ($43.5 million) for the quarter. Profit for third quarter was R$35.5 million ($6.6 million), compared to R$45.7 million reported at this stage last year. (IHS Markit Connect)
- Krka reported results for the first nine months of 2021. Animal health sales were EUR 64.6 million ($73.3 million), an increase of 16% over the prior-year period. (IHS Markit Connect)
- SeQuent Scientific, parent company of Alivira Animal Health, reported results for the second quarter of its fiscal 2022. Revenues were INR3.5 billion ($47.2 million), flat compared to the previous year. After-tax profit dropped 39% from the year-ago quarter to INR143 million ($1.9 million). (IHS Markit Connect)
- ImmuCell Corporation announced its unaudited financial results for the third quarter of 2021. Sales were $5.2 million, an increase of 38% compared to the prior-year quarter. Net income was $148,000 in contrast to a net loss of ($323,000) during the quarter ended September 30, 2020. (company press release)
- Kane Biotech announced their third quarter 2021 financial results. Total revenue was C$541,302 (US$430,000), an increase of 50% compared to the prior-year quarter. Net loss was C$(1,582,959), an increase of 53% compared to the prior-year quarter. (company press release)
- Zomedica reported results for the third quarter of 2021. Revenue was $22,514 for the quarter, after commencing commercialization of Truforma on March 15, 2021. Net loss was $(6.3) million, compared to a net loss of approximately $5.0 million in the prior-year quarter. Zomedica had cash and cash equivalents of approximately $271.4 million as of September 30, 2021. (Bollyinside.com)
COMPANY NEWS RELEASES
- Virbac announced the launch of its new free online C.E.T. Dental Authority Certification Program in collaboration with Mary L. Berg, BS, RVT, RLATG, VTS (Dentistry), to help veterinary teams learn more about dentistry through a self-paced program. (DVM360)
- Nestlé Purina PetCare announced the launch of Purina Pro Plan Veterinary Diets EL Elemental, an amino acid-based dry food containing omega fatty acids, vitamin A and zinc. The diet’s low-allergen carbohydrate sources help minimize the risk of allergic reactions to assist in elimination diet trials and the nutritional management of dermatological and gastrointestinal conditions. (Todays Veterinary Business)
- Huvepharma announced the formation of Huve Nutraceuticals, a new company that will focus on the manufacturing of omega-3 algal oils for nutraceuticals to help decrease dependence on omega-3 from fish. It will manufacture and market microbial- and microalgae-derived nutraceutical ingredients such as omega-3 DHA/EPA lipids, protein, exopolysaccharides and arachidonic acids (ARAs) that will be sold under the HuvePrime and HuvePure brands on a business-to-business basis. (IHS Markit Connect)
- ioVet, an entirely owned division of Iotech International Inc, announced the launch of Healthy Gums – a patented, molecular iodine-based canine and feline dental product that supports gum and periodontal health while freshening breath and promoting overall well-being. Healthy Gums is added daily to a pet’s drinking water and begins working immediately to significantly reduce dental plaque formation. (DVM360)
- Regency Pet LLC, a US pet aftercare services provider, announced its new partnership with Pet Rest Inc, in Indiana. The partnership encompasses Pet Rest Inc. Cremation Services, Pet Rest Equine, Pet Rest Aquamation, and the Pet Rest Cemetery. Regency Pet now has a total of 42 locations nationwide. (company press release)
- Ynsect, a French producer of insect protein, announced it is entering the US market as a supplier to Pure Simple True, which will use the ingredient in its Bernie’s direct-to-consumer brand of premium dog food, launched in September 2021. (IHS Markit Connect)
- Jinx, a dog food company, announced it has raised $28 million in a Series A funding round led by The Merchant Club (TMC). TMC was joined by other angel investors, including several celebrities. The investment will help Jinx expand its portfolio and extend its product distribution beyond direct-to-consumer (DTC) to include brick-and-mortar retailers across the United States starting early next year. (Pet Food Processing)
- Encore Vet Group – with 60 veterinary hospitals throughout the US – announced it has acquired VetSupport, a veterinary consulting group focused on training, education, and practice management. Financial terms were not disclosed. (DVM360)
- One Health Group (OHG) announced it has gained $1.5 million in funding from Pureland Group to help further develop Voyce, its remote animal monitoring technology. (IHS Markit Connect)
- Twist Bioscience and Invetx announced an extension to their existing antibody therapeutic partnership. The extended agreement covers the addition of next-generation synthetic antibody phage display technology for the discovery of novel monoclonal antibodies (mAbs) for the treatment of multiple diseases in cats and dogs. (Biospace.com)
- Genelux Corporation announced an exclusive worldwide licensing agreement for V-VET1, its clinical stage animal health product candidate, with ELIAS Animal Health. V-VET1is a vaccinia viral strain which selectively replicates in cancer cells causing cell death (apoptosis). ELIAS Animal Health plans future clinical trials to evaluate and develop V-VET1 as a potential new immunotherapy option for veterinary oncologists. Under the terms of the agreement, Genelux will receive an upfront payment, development and sales milestones, and royalties on product sales. (Yahoo Finance)
- SWITZERLAND Archer Daniels Midland (ADM) announced the opening of its new animal nutrition laboratory located in Rolle, Switzerland. The new lab will support the development of science-based feed additives to meet customer needs for petfood, aquaculture and livestock species worldwide. (World-grain.com)
- NEW ZEALAND Dutch-based Connecterra announced a partnership with Fonterra, a multinational dairy company owned by 8,800 New Zealand dairy farmer, to launch Connecterra’s smart dairy farm technology in New Zealand. (IHS Markit Connect)
ANIMAL HEALTH STOCK PRICE TRACKER
ANIMAL HEALTH NEWS
- BRAZIL – BSE Brazilian authorities are investigating two possible cases of bovine spongiform encephalopathy (BSE) in humans in Rio de Janeiro state. The municipal health authorities said the two cases identified in residents of the Rio suburbs had been referred to state health authorities, without giving the patients’ ages. Earlier in September, Brazil confirmed two cases of what it called “atypical” BSE in animals in the states of Mato Grosso and Minas Gerais. At the time, Brazil’s Agriculture Ministry stressed that the two cases identified in meat plants had generated spontaneously and were not related to contaminated feed, as in classic BSE. (Thecattlesite.com)
- POLAND – AVIAN INFLUENZA Poland – the EU’s largest poultry producing country – has been hit by another wave of avian influenza outbreaks, just weeks after declaring itself free of the disease. The Polish state veterinary service reported six new cases of HPAI on farms that together held around 650,000 birds. Avian influenza has been spreading rapidly in Europe recently, raising concerns in the poultry sector after previous outbreaks led to the culling of millions of birds and subsequent trade restrictions. (IHS Markit Connect)
- FRANCE – BRUCELLOSIS France’s ministry of food and agriculture has confirmed a case of bovine brucellosis on a dairy farm in the Haute-Savoie region. This marks the first official case of the disease since 2005, although an outbreak was identified in 2012 among ibex populations in the mountainous Bargy massif in Haute-Savoie. The latest case was identified as part of the regular health surveillance of farms. (IHS Markit Connect)
- UK – COVID IN PETS A UK-based veterinary referral center reported a significant rise in myocarditis cases among cats and dogs whose owners recently had COVID-19. Before the pandemic, about 1.5% of pets referred to the Ralph Institute in Buckinghamshire, England, were diagnosed with myocarditis. But between December 2020 and March 2021 that increased to 12.5%. Researchers have released a report on what appears to be COVID-induced myocarditis in pets seen at the Ralph Institute; in this case, specifically the Alpha variant of the coronavirus. (Vet Advantage – NBC News)
- US – CALF DIARRHEA RESEARCH A veterinary virologist at University of Illinois’ Veterinary Diagnostic Laboratory has identified the first instance of boosepivirus in a diarrheal calf in the United States while conducting a metagenomic sequencing study. Boosepivirus was first identified in diarrheal cattle through deep sequencing in Japan in 2009. Last year boosepivirus was proposed as a new genus in the viral family Picornaviridae. The research was published in the Wiley Online Library. (TheCattleSite.com)
- UK – INNOVATION A researcher at the University of Glasgow has developed DogPhone, a device which helps pets place video calls to their owners. DogPhone allows a dog to call its owner by picking up and shaking a ball fitted with an accelerometer. When the accelerometer senses movement, it initiates a video call on a laptop in their living room allowing the dog to see and interact with his owner. The owner can also use the system to call their pet. The research was presented at the 2021 ACM Interactive Surfaces and Spaces Conference in Łódź, Poland. (university press release)
- The Innovation Center for U.S. Dairy, Syngenta and The Nature Conservancy announced the next phase of a cross-industry collaboration with dairy farmers to reduce greenhouse gas emissions, improve water quality and strengthen farm resilience. The collaboration aims to develop a replicable program and toolset to scale the adoption of best management practices in feed/forage production and feed efficiency. (Feedstuffs)
BRAKKE CONSULTING VIEWPOINT
Fact or fiction? Media influence on perception? In this case, it’s worth repeating. A recent study published by the AVMA indicates some important discrepancies between perception and reality.
First, pet adoptions from shelters are actually down. Actually, supply is way down, making the apparent demand feel stronger.
Meanwhile, veterinarians and staff are working harder. Not surprisingly, in the spring of 2021, monthly appointments per practice were way up vs 2020. Revenues per transaction also show robust growth. AVMA Chief Economist Matthew Salois notes, “Clients are asking for more veterinary products and services … opting for higher-value products and services … average prices have continued to increase.” He reminds us that existing clients represent the bulk of total billings.
The pandemic-related efficiency reductions remain, with hospitals continuing to catch up on pent-up demand for increased demand for services. The result: burnout. DVM turnover rates are double MDs’, with technicians’ rates nearly double DVMs’ and significantly above nurses.
The impact on the industry? Efficiency and value. Pet owner economics continue to sparkle. Demand is real and repeatable. The qualitative intensity of “husbandry” among pet owners appears to translate to quantitative gains. But hospital staff must now demand efficiency among its suppliers, stakeholders, and colleagues.
Is the groundswell large enough to make such a conference profitable? Hard to say, but the current alternative, fending for oneself, suggests pent-up demand.
Last week we asked about your expectations for inflation 2022. Two-thirds of you said that you thought it would be between 5 and 8%; 25% thought it would be higher than that. If our readers are correct, it looks like the days of low inflation are over, at least in the near term.
How valuable would a veterinary industry supplier conference be, one that would bring together service organizations such as ad agencies, consultants, contract manufacturers, etc. with appropriate buyers from manufacturers and product/service marketers?