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Brakke Consulting’s
Animal Health News & Notes for November 8, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
2024 Flea & Heartworm Markets report – pre-order by Nov. 22
Earnings News
Elanco
Freshpet
PetMed Express
Phibro
Zoetis
Other News
AllyDVM
Alveo Technologies
Boehringer Ingelheim
Cat In A Flat
Eurofins Agro Testing
Eyam
Fidelis Animal Health
Jaguar Animal Health
LifeLearn
Mission Veterinary Partners
OvaInnovations
Pet Supplies Plus
Phibro
Rover
Royal GD
Shore Capital Partners
Silver Lake Management
Southern Veterinary Partners
trinamiX
VEOS Group
Vetiqure AB
x-OvO
Zoetis
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Brakke Consulting
2024 US Flea Control & Heartworm Markets Report
Pre-order by November 22
Are you on top of the trends in the largest market segment in companion animal health? Brakke Consulting will soon be publishing our 2024 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
- Upcoming new product launches, including CREDELIO QUATTRO
- 2024 survey of 350 veterinarians
- 2024 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 22, and $7,995 after that date.
Please contact Dr. Lynn Fondon at 336-396-3916 or info@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 2024. Revenue was $2.4 billion, an increase of 11% compared with the third quarter of 2023 (+14% on an operational basis). Net income was $682 million, an increase of 14%. Revenue in the U.S. segment was $1.3 billion, an increase of 15%. (company press release)
- Elanco Animal Health Incorporated reported financial results for the third quarter of 2024. Revenue was $1,030 million, a decrease of 4% (organic constant currency growth of 1%). Reported net income was $364 million, compared with a net loss of $(1,096) million for the same period in 2023, which included a $1,042 million goodwill impairment charge. (company press release)
- Phibro Animal Health Corporation announced financial results for its first quarter ended September 30, 2024. Net sales were $260 million, an increase of 13%. Net income was $7.0 million, an increase of $15.0 million. Animal Health net sales were $183 million, an increase of 14%. (company press release)
- PetMed Express, Inc. announced its financial results for its second quarter ended September 30, 2024. Net sales of $59.6 million, a decline of 16%. Net income was $2.3 million compared to net income of $0.7 million in the prior year period. (seekingalpha)
- Freshpet, Inc. reported financial results for the third quarter of 2024. Net sales were $253 million, an increase of 26%. Net income was $11.9 million, compared to the prior year period net loss of $(7.2) million. (seekingalpha)
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COMPANY NEWS RELEASES
- Phibro Animal Health Corporation announced the successful completion of the acquisition of the medicated feed additive product portfolio and certain water-soluble products from Zoetis Financial terms were not disclosed. (company press release)
- The FDA announced a supplemental approval for Boehringer Ingelheim‘s Nexgard Plus for the treatment and control of longhorned tick infestations in dogs and puppies; and for the addition of label language regarding the results of a second flea field study and improvement of symptoms in dogs with flea infestations and signs of Flea Allergy Dermatitis following treatment with afoxolaner alone, as a direct result of eliminating fleas. (FDA)
- Shore Capital Partners announced it is in talks to merge portfolio companies Southern Veterinary Partners and Mission Veterinary Partners and recapitalize the combined entity with an investment from Silver Lake Management through an $8.6 billion deal. The two private equity firms would co-own the combined entity and together contribute about $4 billion of fresh equity to the company. (Reuters)
- The FDA announced it has approved the conditional renewal of Jaguar Animal Health’s Canalevia-CA1 (crofelemer delayed-release tablets) for the treatment of chemotherapy-induced diarrhea in dogs. The approval is valid until Dec. 21, 2025. (Veterinary Practice News)
- Fidelis Animal Health, Inc. announced it has received notification from the FDA that Ethiqa XR (buprenorphine extended-release injectable suspension) 1.3 mg/mL is now indicated for the control of post-procedural pain in captive rodents and laboratory rabbits. (company press release)
- LifeLearn announced it has teamed up with AllyDVM to integrate its AI-enhanced ClientEd with AllyDVM’s PetPage app. This collaboration lets veterinary practices share personalized, reliable educational content directly with pet owners on their devices. (company press release)
- Franchise Group, Inc. – parent company of Pet Supplies Plus – announced it has entered into a restructuring support agreement with holders of approximately 80% of its first lien debt on a comprehensive solution to strengthen FRG’s capital structure and best position its leading brands for continued sustainable growth. Pet Supplies Plus expects to continue its growth, regardless of the financial position of FRG. (Pet Business)
- VEOS Group, a producer of sustainable, high-quality protein solutions for the food and animal feed industries, has acquired the activities of OvaInnovations, a producer of inedible egg proteins. By acquiring OvaInnovations’ operations, VEOS Group will have production capabilities in the US. Financial terms were not disclosed. (Feed Strategy)
- EU Alveo Technologies, Inc. announced the launch of its first animal health diagnostic product, the Alveo Sense Avian Influenza Test. Alveo’s decentralized molecular diagnostic test detects and differentiates between Avian Influenza Type A, H5 and H7 or H9. The product is launching in partnership with Netherlands-based Royal GD as well as UK-based x-OvO. (com)
- CANADA Eyam Vaccines and Immunotherapeutics announced a new partnership with a global leader in animal health, the second partnership for Eyam within the animal health industry. This collaboration will leverage Eyam’s Gemini expression system to enhance the delivery, effectiveness and duration of an antibody therapeutic. (com)
- NORWAY Vetiqure AB, ChemoTech AB’s subsidiary dedicated to animal care, announced a clinical partnership with the Norwegian University of Life Sciences (NMBU) Hospital for Equine Medicine to integrate ChemoTech’s Tumour-Specific Electroporation (TSE) therapy into their routine treatment offerings. (cision.com)
- EU Rover announced it has acquired Cat In A Flat, a cat-sitting community. The acquisition expands Rover’s European footprint into Switzerland, Belgium, Austria and Ireland, in addition to the 10 countries currently served by the Rover marketplace. Financial terms were not disclosed. (Pet Business)
- EU Eurofins Agro Testing and trinamiX GmbH, a subsidiary of BASF, announced a collaboration to offer a mobile analysis solution for forage, providing instant nutritional insights on farm with a hand-held device. (company website)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – MIDLEVEL PRACTITIONER According to the Associated Press, Colorado voters have approved Proposition 129, an initiative that establishes the position of veterinary professional associate, or VPA, and defines its educational requirements. VPAs will be allowed to provide more types of care considered within the scope of their qualifications – including spay and neuter surgeries – while under the supervision of a licensed veterinarian. (com)
- BRAZIL – CANNABIS The board of directors for Brazil’s National Health Surveillance Agency (Anvisa) recently approved a measure that allows the regulation of Cannabis sativa-based products by the Ministry of Agriculture and Livestock (Mapa) and the prescription of these products by veterinarians. (Feedstuffs)
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BRAKKE CONSULTING VIEWPOINT
“Marcia, Marcia, Marcia!” If you’re a Baby Boomer, you know exactly what that means. “That’s sketch, that’s sus, that’s skibidi.” If you’re a Gen Z, you know exactly what that means. No cap.
What’s the fuss? Gen Z is now 20% of the US population, continuing to grow – continuing to demand your attention. Consider these three points about Gen Z:
- Covid reduced their personal socialization
- They’re hooked on Amazon
- They’re fluent in technology
These strike us all, whether we’re recruiting and hiring them or marketing to them. Gen Z’s need more attention and socialization than you might anticipate. Those who join your team, will require more coaching.
They expect instant results and are using AI, etc. constantly. Deliver. That’s what they expect. Your message must break through instantly. They don’t wait around for results. In fact, they’re huge consumers of “Buy now, pay later” plans.
EMarketer claims ads aimed at Gen Z’s have 1.3 seconds to win their attention. Instagram and TikTok dominate.
This brief article barely skims the surface of this demographic. We encourage our readers to pursue this topic. To ignore this Megatrend may make your actions look downright skibidi.
Jeff Santosuosso
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YOUR VIEW
Last week, we asked how if your pet wore a costume for Halloween. 19% said “yes.” We hope you posted the pics!
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