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Brakke Consulting’s
Animal Health News & Notes for September 29, 2023
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Animal Health Jobs
Earnings News
Animalcare
CVS Group
Other News
Blendvet
CareVet
Dr. Judy
Hill’s
Milk Specialties Global
Solvet
Symrise
Woof Gang Bakery & Grooming
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Animal Health Jobs
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www.animalhealthjobs.com
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EARNINGS NEWS RELEASES
- Animalcare reported results for the first half of 2023. Revenues were GBP 36.7 million ($44.6 million), a 4.1% year-over-year decline. Half-year profit before tax was GBP 2.4 million ($2.9 million), down from GBP 3.4 million in the same period last year. (com)
- Vet services business CVS Group announced results for its financial year ended on June 30, 2023. Revenue was GBP 608 million ($745 million), up 7.3% from the prior year. Company profit before tax was GBP 53.9 million ($66 million), an increase of 50%. The company completed a total of 11 acquisitions in the past year. (GlobalPets)
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COMPANY NEWS RELEASES
- Solvet announced the launch of Lidoband, a novel, lidocaine-impregnated latex band for castrating calves under 250 pounds and lambs under 50 pounds. Each band is infused with 80 milligrams of slow-release lidocaine that stays in the local tissue and works for up to 42 days. (Bovine Veterinarian)
- Milk Specialties Global (MSG) announced the launch of American-made RPMet, a rumen protected methionine supplement for dairy cows that utilizes a Ph sensitive polymer coating that is designed to withstand the rigors of a cow’s digestive tract. (Feedstuffs)
- CareVet, Blendvet and Hill’s Pet Nutrition announced a partnership to aid veterinary communities in fostering inclusivity and belonging. Blendvet has developed a series of on-demand modules within CareVet’s network that are designed to introduce veterinary professionals to Diversity, Equity, Inclusion, and Belonging (DEIB) issues and provide valuable tools to promote creative-thinking. (company press release)
- Judy’s PEA, a pet supplement containing Palmitoylethanolamide (PEA) – an endocannabinoid-like lipid mediator with documented anti-inflammatory, analgesic, antimicrobial, immunomodulatory, and neuroprotective effects – was launched. (DVM360)
- “Maximizing Sexual Wellness: The Benefits of Cialis for Men’s Health.” Bryn Mawr Urology. Discover the numerous benefits of Cialis for men’s health beyond just treating erectile dysfunction and bengin prostatic hyperplasia. Learn about the positive impact it can have on overall sexual wellness, intimate relationships, and psychological well-being, helping you live a more fulfilling and satisfying life.
- Woof Gang Bakery & Grooming announced its 300th location in Miami, Florida. (Pet Product News)
- GERMANY Symrise announced 2 new production developments across its network: a new 10,000 square-meter production facility in southern Brazil, for the production of liquid and powder palatants for local and international markets; and a dry pet food pilot production site in Elven, France. (GlobalPets)
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2023 AAFP Annual Conference
Memphis, TN | Renesas Convention Center & Virtual
October 12-15, 2023
Join us at the 7th World Feline Veterinary Conference
The 2023 American Association of Feline Practitioners Annual Conference is next month. This year’s conference theme, The Ins and Outs of Feline Nutrition and Gastroenterology, will cover all areas of feline nutrition and gastroenterology and is suitable for veterinary professionals of all levels. Earn up 67 RACE-approved CE credits by attending in person and/or viewing on-demand sessions through May 31, 2024. Bundle your registration with an AAFP membership and save!
Click here for more information.
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ANIMAL HEALTH STOCK PRICE TRACKER
This week we have added Inspire Veterinary Partners to our stock table. The company is an owner/operator of veterinary hospitals in the US and started trading on the Nasdaq exchange on August 30, 2023, listed under the symbol IVP.
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ANIMAL HEALTH NEWS
- US – DRUG GUIDANCE The FDA released a draft guidance for industry (GFI) to provide recommendations on how animal drug sponsors may voluntarily establish a defined duration of use for certain approved medically important antimicrobial animal drugs with indications that currently lack a defined duration of use. The recommendations in the draft guidance only affect medically important antimicrobials approved for use in or on the feed of food-producing animals. All approved uses of medically important antimicrobial drugs in other dosage forms (e.g., injectable, intermammary, tablet, etc.) already have appropriately defined durations of use. (FDA)
- US – ANTIMICROBIAL STEWARDSHIP The FDA’s Center for Veterinary Medicine (CVM) released, “Supporting Antimicrobial Stewardship in Veterinary Settings, Goals for Fiscal Years 2024-2028.” This five-year plan builds upon the progress of the previous plan for FY 2019-2023. The five-year plans are intended to provide stakeholders with a transparent roadmap of the actions that correspond to FDA’s three main veterinary stewardship goals: (1) Align antimicrobial drug product use with the principles of antimicrobial stewardship; (2) Foster stewardship of antimicrobials in veterinary settings; and (3) Enhance monitoring of antimicrobial resistance (AMR) and antimicrobial drug use in animals. (FDA)
- US – VETERINARY EDUCATION Legislation was introduced in the US Senate to address a shortage of veterinarians in rural communities. The Rural Veterinary Workforce Act includes tax incentives intended to encourage more veterinarians to practice in rural communities. Bill supporters say the Veterinary Medicine Loan Repayment Program Congress created in 2003 has become inadequate because Federal tax withholding laws limit the amount beneficiaries truly receive. The Rural Veterinary Workforce Act would create tax exemptions for payments received under this and similar programs, allowing vets to receive tax incentives similar to doctors and other health professionals. More than 100 national and state organizations signed a public letter urging Congress to pass the bill. A similar House bill was introduced earlier this summer. (AVMA SmartBrief – Farm Progress)
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BRAKKE CONSULTING VIEWPOINT
Today’s newsletter contains an item about legislation to address the shortage of veterinarians in rural communities. In 2003, Congress passed the Veterinary Medicine Loan Repayment Program that provided loan repayment support for veterinarians practicing in qualified rural areas. However, evolution of the federal tax withholding laws now substantially limits the benefits actually received by beneficiaries.
To remedy this, bills have been introduced in both the Senate and the House to create exemptions for payments received under this program. The bills have bipartisan support in both chambers. Correcting this unintended effect should, in normal times, be a simple fix. However, as we again face a shutdown of the government (at least at the time I write this) due to legislative gridlock, it would be a real disappointment to see this initiative falter due to the logjam caused by the current posturing. Let’s hope that our Congress can get back to its intended work that benefits the citizens.
Twenty years ago, when the original bill was passed to support veterinarians in rural areas, it was a good idea. Today, passing a fix for the technical difficulties with that bill is still a good idea. Encourage your Senators and Representatives to support this worthwhile legislation even in this time of crisis; it’s the right thing to do.
Jim Kroman
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YOUR VIEW
Last week we asked you about human resource and hiring issues that impact your organization. Of the choices offered, not surprisingly, money was the most important. “Increases in annual pay raises” was the top response from the respondents at 35%, followed by “More willingness to hire job hoppers” at 21% and “Loosing requirements for college degrees” by 18%. Almost 20% said that none of the choices were that impactful. Almost seems like we are entering a time where respondents say they are paying more money and changing their standards for hiring talent.
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