***********************************
Brakke Consulting’s
Animal Health News & Notes for September 20, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
************************************
IN THE NEWS:
Brakke Consulting News
AnimalHealthJobs – Regional Sales Manager position
Transaction Insights Seminar – beginning September 25
Earnings News
General Mills
Vetoquinol
Other News
Antelligence
Celnor Group
Drayton Animal Health
Elanco (Zenrelia)
Elanco (TriRx Speke)
Hill’s
HT Vista
Inventory Ally
Nestlé Purina PetCare
Patterson
Phagelux Animal Health
Provet Cloud
Pumpkin Insurance Services
Scenthound
TriRx Speke
Vetsource
Vetstream
Victor Medical
Zoetis
*****************************************
AnimalHealthJobs
Join the Y-TEX Sales Team:
Now Hiring – Regional Sales Manager
Y-Tex, a deeply rooted manufacturing company in the livestock industry in Cody, WY since 1967, is looking for a driven, motivated individual to manage sales and service activities in MO, KS, NE, and CO. As a Sales Representative, you’ll be the face of Y-TEX products, driving business through distributors, dealers, veterinarians, ranches, dairies, and feedlots.
You’ll work directly with top distributors and producers, becoming an expert in our product lines and helping customers maximize their profits. This role offers extensive opportunities to build relationships, expand sales volume, and be part of a dynamic, fast-growing team.
Click here to apply now and help shape the future of livestock solutions with Y-TEX!
*********************************************
EARNINGS NEWS RELEASES
- Vetoquinol reported results for the first half of 2024. Sales were EUR 264 million ($292 million), up 3% on a reported basis. Net income amounted to EUR 24 million ($26.6 million), a decline of 26%. (company website)
- General Mills, Inc. reported results for the first quarter ended August 25, 2024. First-quarter net sales for the North America Pet segment were down 1% to $576 million. Segment operating profit was up 7% to 119.4 million. (company press release)
*********************************************
Brakke Consulting
Transaction Insights: Unlocking the Secrets to Successful Business Deals in Animal Health
Now a three-session virtual event beginning September 25, 2024
Are you seeking to navigate the complex landscape of buying and selling businesses or technology in the animal health and nutrition industry? Given the success of last year’s relaunch, we are excited to announce our educational transaction seminar for 2024, tailored specifically for animal health professionals.
It’s more than just due diligence – we will help you unlock the secrets to successful deals in animal health. This comprehensive seminar is designed to equip you with the knowledge, tools, and strategies to make informed decisions and to successfully manage a transaction in the animal health industry. Presenters include Senior Brakke Consultants Jim Kroman, Paul Casady, and Randy Freides.
The format now is virtual (Zoom) and will be held over three days, September 25th, October 2nd and October 16th. Each session will start at 1 pm ET and last 2 hours, followed by 30 minutes of questions, answers and discussions. Each session will be recorded in case you are unable to attend.
To view the event agenda, click here. To register, click here. Sign up by September 13th to receive our discount price of $1,000. Registration after July 26 will be $1,200. For more information, contact Amanda McDavid at amcdavid@brakkeconsulting.com or 336.396.3916.
**************************************
COMPANY NEWS RELEASES
- Zoetis , announced plans to unveil its new hematology analyzer Vetscan OptiCell, a cartridge-based, AI-powered diagnostic tool that provides advanced Complete Blood Count (CBC) analysis. The analyzer will be introduced to the US market later this year. (prnewswire)
- Elanco Animal Health Incorporated announced the FDA has approved Zenrelia, a once-daily oral JAK inhibitor for control of pruritus (itching) associated with allergic dermatitis and control of atopic dermatitis in dogs at least 12 months of age. Orders are expected to begin shipping in the coming days. (company press release)
- Hill’s Pet Nutrition announced it has expanded its Science Diet line with new Puppy and Kitten Sensitive Stomach & Skin foods. The new recipes are highly digestible with prebiotic fibers that promote healthy skin and coat and better stool quality for easier poop pickup. (prnewswire)
- Nestlé Purina PetCare announced a grant of nearly $1 million over 5 years that will support the University of California, Davis School of Veterinary Medicine’s G.V. Ling Urinary Stone Analysis Laboratory (USAL). It will allow companion animal veterinarians to provide free urinary stone analysis results to their patients. (prnewswire)
- Patterson Veterinary Supply announced its NaVetor veterinary cloud software now integrates with Vetsource for online pharmacy/home delivery. This allows veterinarians to give their clients online shopping and home delivery options for prescriptions – right from within NaVetor. (company press release)
- HT Vista announced it has partnered with Victor Medical Company to expand the uptake of their canine lump and bump screening device across the west of the USA. The device helps rule out cancer of subcutaneous and dermal masses. (company press release)
- Phagelux AgriHealth announced the launch of its new subsidiary, Phagelux Animal Health. The new entity, headquartered in Ames, Iowa, will focus on developing innovative products for livestock based on bacteriophage technology. (com)
- Pumpkin Insurance Services announced the launch of Pumpkin Wellness Club, a new preventive care membership for pet owners. The Pumpkin Wellness Club helps pet parents save on routine preventive care their pets. (com)
- Inventory Ally announced an integration with Provet Cloud practice management software. (Todays Veterinary Business)
- Antelligence announced the launch of a comprehensive database of over 8,800 corporate veterinary practice locations across the US, available via annual subscription. (company press release)
- Vetstream announced the integration of new Contextualised Care Resources – created by the Royal College of Veterinary Surgeons (RCVS) Knowledge – into Vetlexicon, its online veterinary reference tool. The Resources offer veterinary teams the ability to adapt standard care protocols to the individual circumstances of their patients. (company press release)
- Scentbound announced it is expanding its retail line, Houndswell, with Daily Dental Support, a dental health supplement developed to combat periodontal disease in dogs. (Pet Product News)
- UK TriRx Speke Ltd announced it has entered into trading administration, a formal insolvency process in the United Kingdom designed to help companies facing severe financial challenges regain stability. Elanco has a long-term supply agreement with TriRx to manufacture select farm animal products at the Speke site, and is working constructively with the Administrators to support business continuity. In the short term, Elanco is working with the Administrators to underwrite the operational costs to ensure work in progress at the site continues, and expects minimal supply disruption in 2024. (company press release)
- UK Celnor Group announced that Drayton Animal Health has become its 17th member company and is the first business in the company’s Life Sciences division. Drayton Animal Health is a UK-based Contract Research Organization (CRO) dedicated to the health and welfare of farmed animals. Financial terms were not disclosed. (company website)
*********************************************
ANIMAL HEALTH STOCK PRICE TRACKER
***********************************
ANIMAL HEALTH NEWS
- IRELAND – VETERINARY EDUCATION Two new veterinary medicine colleges are to be established in Ireland at South East Technological University and Atlantic Technological University. The move will almost double the number of graduates who join the Irish veterinary ranks each year. (com)
- US – INNOVATION The FDA announced the establishment of four Animal and Veterinary Innovation Centers (AVICs), The centers, which are the recipients of funding, are University of Wisconsin-Madison (HPAI and other avian viruses); University of California at Davis (gene editing technologies in food animals); Kansas State University (models to evaluate the efficacy of analgesics in food animals); and University of Arkansas (Histomonas meleagridis in turkeys). (FDA)
- US – ANIMAL HEALTH INDUSTRY ANALYSIS The FDA’s Center for Veterinary Medicine announced a collaborative agreement with the Reagan-Udall Foundation for the FDA (the Foundation) to progress in implementation of its Animal and Veterinary Innovation Agenda. The Foundation will conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis that aims to research the challenges within, and unmet needs of, the animal health, animal food and veterinary industries, and explain the economic impact of these gaps. (FDA)
************************************
BRAKKE CONSULTING VIEWPOINT
My career has primarily developed in my native country, Brazil, where I’ve dedicated 33 years to the animal health industry across various companies. Throughout this time, I’ve been consistently amazed by the industry’s dynamism, especially with the recent growth in veterinary specialties like telemedicine, health plans, and artificial intelligence.
Reflecting on the past year, I wanted to summarize the key growth drivers in this market. According to SINDAN (the industry’s union), the animal health market grew by 4.2% in 2023 compared to 2022. Over the past 10 years, the compound annual growth rate (CAGR) has been 10.5%, signaling a slowdown after the post-COVID peak of 20.5% growth in 2021, which mirrors the global trend.
The primary growth driver continues to be the market for dog and cat products, which accounted for 29% of the industry’s total revenue of 10.8 billion reais (approximately 2 billion USD at current exchange rates). Within the companion animal segment, the rapid adoption of innovative therapeutic products like monoclonal antibodies stands out.
I will continue to monitor the annual data for 2024 and share any new developments with you.
Mauri Moreira – Brakke LATAM
***********************************
YOUR VIEW
Last week, we asked what you think is the #1 issue contributing to a veterinary workforce shortage. 41% said high levels of burnout and work-life balance challenges; and 30% said lack of support and retention strategies at vet practices. 12% said demand for pet care services is outpacing supply; and only 5% said not enough veterinary graduates entering the field. 13% thought it was something else.
This week
This week let’s find out how often those of you with pets visit your veterinarian.
How many times in the past two years have you and your pet(s) visited your veterinarian?
English (United States) 
Portuguese