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Brakke Consulting’s
Animal Health News & Notes for November 4, 2022
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
2022 Flea Control & Heartworm Markets report – pre-order before Nov.18
Earnings News
Adisseo
Freshpet
IDEXX
Royal DSM
Swedencare
Zoetis
Other News
AmeriVet Veterinary Partners
Antech
Asia Veterinary Diagnostics
Avivagen
Bedford Capital
Bio2
Champion Petfoods
Cresilon
Custom Vet Products
Digital Edge Insurance
Felix Pharmaceuticals
GoDog
Hallmarq Veterinary Imaging
Heska
Level 5 Capital Partners
ManyPets
Mars Petcare
Merck
Mosegården
Nationwide
Neftys Pharma
Northeast Veterinary Partners
Nutramax Laboratories
Nutreco
Pet King Brands
Petco
PetDx
Precision Pharmacy
Swedencare
Telus
TikTok
UCARI
Vetoquinol USA
VolitionRx
Walkin’ Pets
Wickliffe Veterinary Pharmacy
Zesty Paws
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BRAKKE CONSULTING
2022 US FLEA CONTROL AND HEARTWORM MARKETS REPORT
EARLY-BIRD DISCOUNT ENDS NOV. 18
Are you on top of the trends in the largest market segment in companion animal health? Brakke Consulting will soon be publishing our 2022 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
– 2022 survey of 300+ veterinarians
– 2022 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 18, 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
- Zoetis reported its financial results for the third quarter of 2022. Revenue was $2.0 billion for the third quarter of 2022, an increase of 1% compared with the third quarter of 2021. On an operational basis, revenue for the third quarter of 2022 increased 5%, excluding the impact of foreign currency. Net income was $529 million, a year-over-year decrease of 4%. (company press release)
- IDEXX Laboratories, Inc., announced results for the third quarter of 2022. Revenues were $842 million, a 4% increase as reported (8% organically). Net income was $181 million, an increase of 3%. Companion animal group revenue was $765 million, an increase of 4%. (company press release)
- Swedencare reported results for the third quarter of 2022. Revenues were SEK483.5 million ($44.3 million), an increase of 119% year-on-year. Acquisitions accounted for a 95% increase, while currency movement generated a 16% boost to turnover. Organic growth was 8%. (IHS Markit Connect – subscription)
- Freshpet, Inc. reported financial results for the third quarter of 2022. Net sales were $151 million, an increase of 41%. Net loss was $(18.4) million, compared with prior year net loss of $(2.1) million. (SeekingAlpha)
- Adisseo – a subsidiary of chemical company China National BlueStar – reported results for the third quarter of 2022. Revenues were Rmb3.6 billion ($497 million), a 7% year-on-year increase. (IHS Markit Connect – subscription)
- Royal DSM reported results for the third quarter of 2022. Animal nutrition sales were EUR 975 million ($968 million), an increase of 15% year-on-year driven by currency movements and pricing. (company press release)
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COMPANY NEWS RELEASES
- Merck Animal Health announced it has reintroduced its Corvac-3 vaccine to help U.S. poultry producers combat outbreaks of avian coryza. Corvac-3 provides broad-spectrum protection against disease caused by Avibacterium paragallinarum (coryza serotypes A, B or C) and is approved for use in chickens five weeks of age or older by subcutaneous injection. (company press release)
- Vetoquinol USA announced the launch of Simplera (florfenicol, terbinafine, and mometasone furoate) otitis externa treatment, a bioequivalent to Elanco’s Claro. (company announcement)
- Felix Pharmaceuticals announced that its manufacturing site in India for oral solid formulations has received US FDA approval. The FDA ratification of the Indore site will allow pendin approvals for the firm’s products to be finalized. (IHS Markit Connect – subscription)
- Mars Petcare announced that it has signed a definitive agreement to acquire Champion Petfoods, a global pet food maker, from an investor group led by Bedford Capital and Healthcare of Ontario Pension Plan. Financial terms were not disclosed. (company press release)
- Nutramax Laboratories and Zesty Paws have recently filed lawsuits against one another for false and misleading advertising. In August, Nutramax announced it had brought legal action against Zesty Paws and its parent company H&H Group, citing false advertising and misleading comparisons between Nutramax’s Dasuquin animal supplements and Zesty Paws’ Vet Strength Mobility Bites. Zesty Paws then filed a lawsuit the following month against both Nutramax and Nutramax Laboratories Veterinary Sciences, Inc., citing broad-based false and misleading advertising of Nutramax’s print and online advertising. (Petfood Processing – subscription)
- Hallmarq Veterinary Imaging announced the launch of a new Zero-Helium system. The Small Animal 1.5T MRI is the world’s first veterinary-specific machine that does not rely on helium to cool the MRI magnet coils. (company press release)
- VolitionRx Limited announced the launch of its Nu.Q Vet Cancer Screening Test across the U.S. and the forthcoming launch in Europe by Heska Corporation. The launch of the test follows a soft beta launch in collaboration with Texas A&M towards the end of 2020. (company press release)
- Avivagen announced that it has closed the second tranche of its previously announced non-brokered private placement financing through the issuance of common shares of the Company at a price of $0.20 per Share, for aggregate gross proceeds of $175,000 in the Second Tranche. (company press release)
- Petco and Nationwide announced plans for a multi-year partnership to co-develop integrated and affordable pet health, wellness and protection solutions for every stage of a pet’s life. The customized, data-driven pet insurance solutions are expected to be available in 2023. (Pet Business)
- Precision Pharmacy and Wickliffe Veterinary Pharmacy announced that the two equine compounding providers have finalized a merger agreement, creating the country’s largest equine-focused compounding pharmacy group. Financial terms were not disclosed. (PRNewswire)
- Walkin’ Pets announced the launch of the Walkin’ Knee Brace, designed to stabilize the stifle joint and reduce knee pain and joint inflammation in dogs. (company press release)
- Pet King Brands announced it has introduced two new Zymox Equine Defense products for relief from chronic hide and hoof conditions. (IHS Markit Connect – subscription)
- AmeriVet Veterinary Partners has acquired 14 new veterinary practices from Northeast Veterinary Partners in a recent buyout. This brings the total number of clinics in AmeriVet’s network to 186. Financial terms were not disclosed. (DVM360)
- ManyPets announced it has acquired Digital Edge Insurance Company, allowing ManyPets to underwrite its own policies in 45 states. Prior to the acquisition ManyPets had its US policies solely underwritten by Accredited Surety and Casualty Company. Financial terms were not disclosed. (IHS Markit Connect – subscription)
- Cresilon – a biotech company that has developed medical devices that utilize its plant-based gel technology, which is used in hemostasis and wound treatment – announced it has closed $25 million in funding through a series A-4 tranche. The investment will help the company accelerate its global expansion in the animal health sector and allow it to bring its technology to the human health market. (IHS Markit Connect – subscription)
- UCARI – a human health business that uses bioresonance technology to provide intolerance testing in the human health sector – announced the launch of an at-home test that addresses intolerance issues in companion animals. The test requires a sample of the pet’s hair and allows the user to understand if their pet is intolerant to certain foods and ingredients, as well as environmental or household items. (IHS Markit Connect – subscription)
- GoDog, a US pet services company, announced it has raised $20 million in funding to launch a franchising platform to scale from a regional to a national player. The investment was made by Level 5 Capital Partners. (GlobalPets)
- UK Swedencare announced it has agreed to acquire UK-based Custom Vet Products for around GBP 10.6 million ($12.2 million), with GBP 8.5 million to be paid in cash. Custom Vet Products sells its products – most of which are private label and contract manufacturing soft chews and supplements – in the UK and Europe. Custom Vet Products recorded sales of GBP 2.4 million between April 2021 and March 2022. (IHS Markit Connect – subscription)
- DENMARK Nutreco announced the acquisition of Mosegården, a major independent livestock nutrition supplier in Denmark focused on animal health and nutritional mineral products for cattle and swine. Financial terms were not disclosed. (IHS Markit Connect – subscription)
- PORTUGAL French firm Neftys Pharma announced it has acquired Portuguese veterinary products distributor Bio2. Financial terms were not disclosed. (IHS Markit Connect – subscription)
- ASIA PetDx announced that OncoK9, its first-in-class multi-cancer early detection (MCED) test for dogs, is now available to veterinary clinics in Hong Kong, Singapore, Malaysia, South Korea, and Cambodia through Asia Veterinary Diagnostics, Powered by Antech. (company press release)
- CANADA Telecommunications provider Telus announced the launch of Telus Health MyPet, a new app offering telemedicine for pets that functions similarly to Telus’ virtual medicine offerings for humans. Telus Health is also working with the B.C. SPCA to provide veterinary care to dogs and cats being cared for by the animal welfare organization. (CBC)
- UK Social media platform TikTok is now selling pet care products via retail partners in its e-commerce arm, TikTokShop, in the UK. Members of the UK TikTok community can now use the platform to purchase pet care products directly from vendors. (Petbusinessworld)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- UK – AVIAN INFLUENZA The UK has mandated that all poultry and captive birds in England be kept indoors starting Nov. 7 amid the largest ever outbreak of avian influenza and rapidly growing case counts at commercial farms and in backyard flocks (AVMA SmartBrief – Reuters)
- US – CAT GUIDELINES The American Association of Feline Practitioners (AAFP) and the International Society of Feline Medicine (ISFM) have published the ‘2022 AAFP/ISFM Cat Friendly Veterinary Interaction Guidelines: Approach and Handling Techniques’ and the ‘2022 ISFM/AAFP Cat Friendly Veterinary Environment Guidelines.’ These guidelines cover all aspects of a cat’s veterinary experience, including the journey to the practice and interactions with veterinary team members, as well as the clinical environment. (association press release)
- US – RACEHORSE DEATHS A study led by the University of Glasgow and published in the Journal of the American Veterinary Medicine Association found that American Thoroughbred racehorses given furosemide on race day were at 62% increased odds of sudden death compared to those not racing on the medication. The researchers based their findings on data extracted from the Equine Injury Database, which holds detailed records of 92.2% of all official race starts made in the United States and Canada during the study period, from 2009 to 2021. (AVMA SmartBrief – Horsetalk)
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BRAKKE CONSULTING VIEWPOINT
For humans, wearable technology is something that has been around for a number of years. The first Fitbit device was introduced in 2009. Since then, the technology continues to evolve such that the latest Apple watch can detect heart rate changes as well as arrhythmias, far beyond just tracking steps and movement.
For pets, technology to track movement, location via GPS monitoring and temperature continues to gain traction. In an interesting collaboration, two divisions under the Mars umbrella have collaborated to develop a canine activity tracker that tracks key health metrics such as a dog’s activity levels, eating and drinking times, and scratching and licking habits. This provides pet parents with data-driven insights to detect potential health concerns, monitor and manage chronic health conditions, and make data-driven decisions on the best way to care for their pets, including how to choose the best food to meet their dog’s nutritional needs. Hello technology, meet marketing.
Given that our four-legged family members can’t vocalize when they are not feeling well, technology provides an easy and convenient way to gather data, provide potential early insights to potential illnesses and improve the overall health of our furry companions. Maybe the next tech breakthrough will be a voice box that vocalizes what your dog is thinking when they look at you with their head tilted sideways…you never know. Well, you may not want to know.
Randy Freides
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YOUR VIEW
Last week, we asked if you expect a US recession in the next 12 months. Not surprisingly, nearly all of you said yes: 32% think it will be mild; 50% think it will be moderate; and 14% think it will be severe.
This week
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