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Brakke Consulting’s
Animal Health News & Notes for October 25, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
2024 Flea Control & Heartworm Markets report – preorder now
Earnings News
Swedencare
Other News
Bansk Group
Bergophor
BioZyme
Clasado Biosciences
DNAiTECH
Epica Animal Health
Inspire Veterinary Partners
PetIQ
Vet2Pet
Vetsource
Walmart
Zomedica
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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 300 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\
- Swedencare AB reported results for the third quarter of 2024. Net revenue was 641.0 MSEK ($60.6 million), an increase of 6% (organic, currency-adjusted growth of 9%). Profit after tax was 24.0 MSEK ($2.3 million). (company website)
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COMPANY NEWS RELEASES
- PetIQ, Inc. announced that at its virtual Special Meeting of Stockholders approximately 80% of its outstanding shares of common stock voted to approve the adoption of the definitive merger agreement pursuant to which Bansk Group will acquire all of the outstanding shares of PetIQ’s common stock for $31.00 per share, in an all-cash transaction valued at approximately $1.5 billion. Upon completion of the proposed transaction, PetIQ’s common stock will no longer be listed on the NASDAQ Stock Market, and PetIQ will be privately held and continue to be operated independently by the Company’s executive team. (company press release)
- Zomedica announced the release of the Ear Cytology Quick Scan protocol, a new feature available on the TRUVIEW microscope equipped with the TRUprep automated slide preparation system. (biospace.com)
- Vetsource announced it is now offering the Vet2Pet client engagement solution and app to veterinary practices free of charge when combined with its Prescription Management service. (company press release)
- Epica Animal Health announced the debut of its new veterinary-specific surgical navigator. In addition to enhancing accuracy during the surgery, the new surgical navigator allows veterinarians to diagnose the problem with a high-resolution CT scan and plan the surgery in 3D using the navigation software. The navigator will be available for purchase in early 2025. (company press release)
- Inspire Veterinary Partners, Inc. announced that it has entered into a securities purchase agreement with institutional investors, providing for the purchase and sale of 10 million shares of Class A common stock in a registered direct offering, at a price per share of $0.25. The gross proceeds of the offering are expected to be $2.5 million. (Yahoo finance)
- Following its Dallas, Georgia pilot clinic, Walmart announced the expansion of its Walmart Pet Services centers, with plans to open 5 clinics over the next month in Georgia and Arizona. (company press release)
- EU BioZyme announced its newest AO-Biotics distribution partner, Germany-based Bergophor GmbH. Bergophor will distribute AO-Biotics products throughout Germany, Austria and Poland. (Feedstuffs)
- NEW ZEALAND DNAiTECH announced a NZ$1 million raise led by Sprout Agritech, with a $750k repayable grant from Callaghan Innovation, to support the development of its instant diagnostic tests. The technology is capable of accurately identifying a broad spectrum of animal and human diseases including Johne’s disease in cattle at the point of care (POC). using Loop-mediated isothermal amplification (LAMP) to amplify small segments of DNA. (co.nz)
- UK Clasado Biosciences, a developer of prebiotic ingredients, announced it has expanded into the pet nutrition sector with the introduction of the Bimuno Pet brand. (Petfood Industry)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – ANIMAL HEALTH TRAINING University of Tennessee Institute of Agriculture announced it has secured a $600,000 USDA grant to help train undergraduates in the skills necessary to pursue livestock-related careers and to bolster efforts to fight tick-borne diseases that affect cattle. Eight undergraduate students a year would be selected for the eight-week program. According to the release, there are currently only 13 universities that offer veterinary and medical entomology courses, and only nine of those offer a laboratory component. (Feedstuffs)
- US – OFFLABEL DRUG USE The FDA is informing veterinarians and farmers to stop using unapproved aspirin to treat pyrexia and pain in lactating dairy cattle, which is being used on some dairy farms to treat cattle infected with highly pathogenic avian influenza, according to a communication from the American Association of Bovine Practitioners (AABP) to its members. The FDA published a “Dear Veterinarian” letter on October 11 as a reminder and educational effort that the extralabel use of unapproved drugs in food-producing species is prohibited. (association press release)
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BRAKKE CONSULTING VIEWPOINT
Finally, election season is upon us. But for finance nerds like myself, earning season is here as well with 3Q24 corporate earnings reports beginning in early November. It will be very interesting to see not only what the companies have to say about third quarter results but what signals they send for the rest of 2024 and 2025.
I recently saw some data from Vetsource that indicates that through the end of September, foot traffic through the vet clinic is down by -1.8% vs. 2023. However, at the clinic level, revenues have increased by +3.1% indicating a continuation of solid price contribution.
In the companion animal space, innovation is the most critical driver of growth. Elanco for example, is about to enter a wave of new product introductions in some of the largest market segments including flea/tick/heartworm (F/T/HW) and dermatology. BI recently launched NexGard Plus in the US. Zoetis’ growth in F/T/HW, dermatology and osteoarthritis is unmatched and Merck has received approval in Europe/Australia on the next wave of F/T innovation with a long-acting injectable product. All of these therapies come with higher price tags.
Will this innovation be enough to continue to drive growth? Will these products, especially the injectables and monoclonal antibody products, drive pet owners back to the clinic or will the increased prices finally create a breaking point for consumers? We should get a glimpse of this as 3Q earnings and 2024/2025 projections are communicated.
Randy Freides
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YOUR VIEW
Last week, we asked whether your company segments its pet product marketing by age demographics. 30% of you said yes, and 47% said no; 23% didn’t know.
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