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Brakke Consulting’s
Animal Health News & Notes for October 22, 2021
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Earnings News
Nestle
Orion
Virbac
Other News
Allivet
American International Holdings
BASF
BNP Paribas
Bluegrove
Cardif Pinnacle
Cargill
Celerant Technology
Collings Nutrition Solutions
ConturaVet
Epiq Paws
Figo Pet Insurance
General Pet Supply
Global Animal Partnership
HerdDogg
Independence Holding Company
JAB
Mars Petcare
Moichor
Penn Veterinary Supply
PetDesk
PetSmart
Pet Solutions Group
Purina
Scout Bio
Synergy Veterinary Imaging Partners
TheraVet
US Stem Cell
Vetbiologics
VetRad
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COMPANY EARNINGS RELEASES
- Virbac SA reported results for the third-quarter of 2021. Revenue was EUR 288 million ($334 million), a 22% increase with respect to the same period in 2020 (+21% at constant exchange rates). (company press release)
- Nestle SA reported results for the first nine months of 2021. Petcare sales were CHF 11.36 billion ($12.32 billion), representing year-over-year real internal growth of 10%. (company website)
- Orion reported results for the third quarter of 2021. The animal health division reported turnover of EUR 16.2 million ($18.8 million), a year-on-year decline of 38%. (IHS Markit Connect)
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COMPANY NEWS RELEASES
- Mars Petcare announced the launch of Greenies Dog Supplements – soft chews in three varieties: Hip & Joint, Immune Health, and Skin & Coat. (PRNewswire)
- Purina announced the launch of Pro Plan Veterinary Diets EL Elemental, an amino acid-based diet to use in elimination diet trials for dogs with adverse food reactions. The diet provides complete and balanced nutrition for canine growth and maintenance without antigenic stimulation. (company press release)
- Allivet and PetSmart announced a strategic partnership to deliver pet prescriptions to pet owners’ door. Allivet is fully licensed to distribute pharmaceuticals in all 50 states. (PRweb)
- ConturaVet announced the opening of their first US-based office and has assumed all marketing and distribution activities to veterinarians for their three veterinary products: Arthamid Vet, Synamid, and Mictamid, a family of patented polyacrylamide hydrogels. (company press release)
- Celerant Technology, a NY-based provider of retail solutions for the pet food and supply industry, announced it has partnered with distributor General Pet Supply. (Pet Product News)
- Moichor, an AI-powered animal diagnostics company, announced the launch of image-based complete blood counts for cats and dogs. The company entered the diagnostics market earlier this year with an automated CBC solution for birds and reptiles. (PRNewswire)
- US Stem Cell announced it plans to relaunch Vetbiologics – its animal health division – with a greater focus on servicing aging pets by specializing in pain, wellness and geriatric care. Vetbiologics has long been a provider of veterinarian-specific options and stem cell banking. (IHS Markit Connect)
- Scout Bio announced the closing of a Series B2 financing, which raised a total of $33.0 million. This financing round included new investors, including OrbiMed and an (unnamed) major animal health company. (Globe Newswire)
- PetDesk and Penn Veterinary Supply announced their partnership to bring leading client relationship technology to veterinary hospitals. (PRweb.com)
- JAB announced has taken a majority stake in UK-based Cardif Pinnacle, a pet insurance-focused subsidiary of BNP Paribas It is also buying Chicago-based Figo Pet Insurance LLC. JAB had acquired Independence Holding Company’s pet insurance arm earlier this year, making the purchase through a vehicle named Iguana Capital. Financial terms were not disclosed. (Bloomberg.com)
- Synergy Veterinary Imaging Partners announced that they will join the VetRad team of veterinary teleradiology. Financial terms were not disclosed. (wfmz.com)
- BASF and Cargill announced they are expanding their partnership in the animal nutrition business, adding research and development capabilities and new markets to the partners’ existing feed enzymes distribution agreements. (Feedstuffs)
- American International Holdings announced that its subsidiary EPIQ MD has launched Epiq Paws as an add-on service to its primary care telehealth customers, bringing virtual consultations with licensed veterinarians to the millions of pet owners around the US. (Globenewswire.com)
- Collings Nutrition Solutions announced a rebranding and expansion of services for the pet industry, and will now be known as Pet Solutions Group. (company press release)
- Global Animal Partnership (G.A.P.), an animal welfare standards and labeling organization, announced its new dairy standard and a partnership with HerdDogg. HerdDogg’s proprietary Animal Traceability Platform will make it easy for dairies and auditors to conduct animal outcome assessments using G.A.P. scoring tools throughout the certification cycle, enhancing the overall process and enabling G.A.P. to provide benchmarking. (PRnewswire)
- EU TheraVet announced the commercial launch of Biocera-Vet – Bone Surgery in France and The Netherlands following the launch in Belgium earlier this year. (company press release)
- NORWAY Bluegrove (formerly CageEye) announced it has been awarded a EUR 3.5 million ($4.1 million) grant and investment package from the European Innovation Council to help bring its fish welfare technology to commercialization. The company’s technology aims to improve early detection of welfare challenges, reduce risk of disease outbreaks and cut health treatment costs in farmed fish. (IHS Markit Connect)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- BRAZIL – CSF Brazil has reported nine new cases of classical swine fever (CSF) in northern Ceara on a small property. The source of the event or origin of the infection is still unknown. (efeedlink.com)
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BRAKKE CONSULTING VIEWPOINT
Recent economic news has been dominated by headlines surrounding inflation and supply chain issues. While the animal health industry may not be reliant on microchips like the technology and automotive industries are, the animal health industry is facing its own economic pressures
In fact, the animal health industry is being challenged on multiple fronts. The industry is facing severe staffing shortages and high turnover rates and, based on some recent articles , medicine and clinic supply shortages are beginning to impact patient care and clinic operations.
Clinics are stretched especially given the rebound from the pandemic shutdowns in 2021. Using the basic principles of supply and demand you can certainly see how economic dynamics can impact the cost of veterinary care for years to come. Wage pressures are a distinct possibility as clinics compete to attract scarce talent. Other clinic operating costs are also under pressure due to supply chain interruptions in addition to clinics having to alter purchasing practices to stay ahead of potential stockouts which requires tying up cash in inventory of critical goods.
While we hear the inflationary pressures are transient, manpower shortages combined with supply chain disruptions can impact all aspects of a clinic’s operations. Is the industry heading toward an inflection point? Time will tell.
Randy Freides
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YOUR VIEW
Last week we asked if you would consider giving your pet a CBD supplement. Most of you (65%) said you would consider it if your vet suggested it, and 6% have already given your pet a CBD supplement. Another 23% would only consider them if the FDA approved them; only 6% said you wouldn’t consider it at all. We’ve come a long way from the days of “Reefer Madness” (for those of you old enough to remember that propaganda cult classic).
This week
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