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Brakke Consulting’s
Animal Health News & Notes for October 18, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Animal Health Jobs
Earnings News
Nestlé
Virbac
Other News
Argenta
Better Choice
BetterVet
Digicare Animal Health
Digitail
Hallmarq Veterinary Imaging
Mars
Peerlogic
PetLife International
Pets Choice
ProImmune
SRx Health
TARGAN
TriRx Pharmaceuticals
The Veterinary Cooperative
Vetnique
The Vets
Weave
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Animal Health Jobs
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EARNINGS NEWS RELEASES
- Virbac reported results for the third quarter of 2024. Revenue reached EUR 339 million ($367 million), an increase of 8% (+10% at constant exchange rates). (company press release)
- Nestlé SA reported results for the first nine months of 2024. PetCare sales were CHF 14,015 million ($16,214 million), unchanged from the prior-year period (+2% Real Internal Growth). (company press release)
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COMPANY NEWS RELEASES
- Mars Incorporated announced the results of the 2024 Mars Global Pet Parent Study with insights from over 20,000 pet parents (dog and cat owners) across 20 countries. Cat ownership is more common than dog ownership globally, and almost half (47%) of those surveyed were first-time owners. (company press release)
- The Vets, a provider of at-home veterinary care, and BetterVet, a mobile veterinary services company, have announced a strategic merger that will expand the combined companies’ footprint to over 30 major U.S. cities. As part of the merger, founders and existing institutional investors have made additional investments intended to further accelerate the growth and reach of the unified company. Financial terms were not disclosed. (newswire)
- Digicare Animal Health announced the launch of its new SedStation, an automated veterinary anesthesia workstation that handles the application of anesthesia while both monitoring and aiding respiration during an anesthetic procedure. Digicare also announces the SedVent, an intelligent anesthesia ventilator that can be incorporated into standard anesthesia machines. (company press release)
- Vetnique introduced a new, all-natural Daily Prebiotic & Probiotic to the Glandex line. This bacon-flavored soft chew is vet formulated and designed to improve the digestive system, gut health, and immune functions for dogs of all ages. (Pet Business)
- Argenta announced that it has closed on the carve-out acquisition of the manufacturing site and operations in Shawnee, Kansas, USA from TriRx Pharmaceuticals, LLC. The site offers sterile fill-finish, non-sterile liquids and pastes, and oral solid dose manufacturing. Financial terms were not disclosed. (KC Connector – company press release)
- The Veterinary Cooperative (TVC) announced a strategic partnership with Peerlogic, a provider of AI-powered communication solutions to enhance front office workflows, improve pet parent engagement, and drive practice profitability. (Businesswire)
- Weave announced user-interface (UI) updates tailored specifically for veterinary practices. Newly released updates include Pet Name Visibility and One-Click Vaccination Record Sharing. (yahoo finance)
- Digitail announced the launch of Digitail Academy, a CE course on technology for veterinary professionals. The free RACE & CVPM CE-approved courses cover topics including telehealth, AI, digital patient journey, inventory and data management, workforce of the future, and hospital design trends. (company press release)
- CANADA Better Choice Company announced expansion plans into veterinary medicine in 2025 following the acquisition of SRx Health, a Canadian pharmaceutical solutions provider. The new initiative, Better Pet Rx, will focus on providing care for your pets with love. (globenewswire)
- UK UK-based Pets Choice has announced the acquisition of several leading brands from British veterinary product company PetLife International. The newly acquired veterinary brands include Otodex, FormulaH, Conficlean2, and milk substitute supplement brands Welpi and Cimicat. Financial terms were not disclosed. (Globalpets)
- UK Hallmarq Veterinary Imaging announced it is expanding its production space by 35% at its head office site in Guildford, UK, to meet increased demand and improve overall efficiency. (company press release)
- EU TARGAN, announced it will make the European debut of WingScan at EuroTier 2024. The US-based manufacturer’s automated chick feather sex identification system leverages artificial intelligence (AI)-powered advanced imaging technology to identify and sort male and female day-old chicks based on their feathers. (Feedstuffs)
- UK The Pirbright Institute and ProImmune announced a strategic partnership to develop target-binding reagents called Ankyrons that will significantly accelerate research in animal health. Ankyrons are small, recombinant, target binding ankyrin repeat proteins developed by ProImmune that, like antibodies, can bind with high affinity to almost any target. ProImmune has already generated and provided new Ankyrons to Pirbright for further study and validation for foot-and-mouth disease and African swine fever, as well as a broad range of bovine, porcine, avian and mosquito protein targets. (company press release)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- WORLD – DISEASE SURVEILLANCE WOAH announced it will launch ZOOSURSY, a new disease surveillance project. ZOOSURSY will build on the success and principles of the EBO-SURSY Project, who has worked alongside Veterinary Services and wildlife authorities in ten countries, helping them build their knowledge and capacities on wildlife surveillance systems. ZOOSURSY is funded by the European Union, under a partnership between the Team Europe Initiative and the African Union. This partnership is focused on developing sustainable health security in Africa using a One Health approach. (association press release)
- US – PRODUCT SHORTAGE Hospitals throughout the U.S. are taking steps to conserve IV fluids after Hurricane Helene caused significant damage to one of Baxter International’s critical manufacturing plants. Concerns have been raised about a potential nationwide shortage, according to NBC News. (Vet Advantage – com)
- CHILE – CANINE STERILIZATION a veterinarian and professor at the University of Chile has developed an immunocastration vaccine for both male and female dogs called Egalitte. According to its developer, Egalitte works by blocking gonadotropin release and is reversible. (reuters)
- US – DIAGNOSTIC SERVICES The Virginia Tech Animal Laboratory Services (ViTALS), within the Virginia-Maryland College of Veterinary Medicine, and the Virginia Tech Plant Disease Clinic, within the College of Agriculture and Life Sciences, have jointly established a genomics-based pathogen identification service to assist animal and plant disease diagnosticians in identifying pathogens and enhance biosecurity and pandemic prevention. The concept is rather than developing PCR tests for individual pathogens, to sequence everything that’s in the sample, figuring out all of the nucleic acids that are in a sample, and then using bioinformatics to figure out the composition of that sample. (university press release)
- US – VET TECH WELL-BEING The National Association of Veterinary Technicians in America (NAVTA), the American Veterinary Medical Association (AVMA), Merck Animal Health, Royal Canin, and MentorVet have announced a groundbreaking collaboration to support the wellbeing and professional growth of veterinary technicians. This new partnership will provide 300 fully funded scholarships for MentorVet Tech, an evidence-based mentorship and professional development program designed to help veterinary technicians thrive in their careers. (company press release)
- CHINA – VETERINARY MEDICINE The American Animal Hospital Association (AAHA) announced the accreditation of four veterinary hospitals in China through its licensed accreditation partner, Gaozhen (Shanghai) Enterprise Management Center. Of particular note, the Zhejiang University Veterinary Teaching Hospital becomes the first teaching hospital in China to receive AAHA accreditation. (com)
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BRAKKE CONSULTING VIEWPOINT
As we reported earlier in the newsletter, this month Mars released its Global Pet Parent Study. This survey of 20,000 dog/cat owners and non-owners covered 20 global markets including North America. Their survey found that 47% of dog and cat owners were first-time owners, which was higher than I would have expected.
The Mars study also looked at generational differences in pet ownership. The study found that the younger the pet owner, the more pet-centric they are: Generation Z owners (18-27 years old) were 50% more likely than Baby Boomers (60+) to say their pets are “the most important thing in their life.” Gen Z owners also placed more importance on products that are sustainable and ethically produced. The AVMA’s 2022 Pet Ownership and Demographics Sourcebook also identified different preferences in veterinary care: younger pet owners (in this case, Gen Z and Millennials) were three times more likely to value telemedicine and curbside service, compared to older pet owners.
A pet owner’s age impacts their approach to their pets’ healthcare, and understanding the nuances of generational approaches to pet ownership can help make your marketing programs more successful. Let us know if we can help you investigate these trends.
Lynn Fondon
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YOUR VIEW
Last week, we asked you to guess how many FDA-approved pioneer products there are that include indications for both fleas and heartworms. Nearly half of you (45%) said 5 products, 32% said 8 products, 13% said 11 products, and 10% said 8.
The answer, with the approval of Elanco’s Credelio Quattro last week, is 11. (This includes several brands with 2 separately approved products – for instance, Nexgard Plus and Nexgard Combo). To learn more about them and the many, many other products to prevent fleas, ticks and heartworms, look to our annual Flea Control and Heartworm Markets report – 2024 edition coming in December!
This week
Does your company segment its pet product marketing by age demographics?