Animal Health News & Notes for July 16, 2021

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Brakke Consulting’s
Animal Health News & Notes for July 16, 2021
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:

Earnings News:
Krka

Other News:
Boehringer Ingelheim
Cargill
Elanco
EquiTrace
GekkoVet
Independence American Insurance
Intelia
If P&C Insurance
iVet
LexaGene
MetLife
PHI Direct
VetDC
Vetoquinol
Vidium Animal Health
Virbac
Zenex Animal Health India
Zydus Animal Health

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BRAKKE CONSULTING


Since you are reading this newsletter about the animal health and nutrition industry, chances are you like to read.  We would like to know which book or books about animals are the most important to you or influenced your choice of a career in this industry.  As you head to the beach or the mountains this summer, wouldn’t you like to know the best book to bring along with you?

Click here to let us know your choices and we’ll share them with you next week.  Everyone that replies by Wednesday, July 21 will be entered into a drawing for one of three $25 Amazon gift card…so three winners can buy another book!

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COMPANY EARNINGS RELEASES

• Krka reported results for the first half of 2021. The company’s animal health division reported revenues of EUR 45 million ($53 million), an increase of 16% over the prior year period. (IHS Markit Connect)

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COMPANY NEWS RELEASES

• Elanco Animal Health announced it has committed to investing $106 million in its Fort Dodge, Iowa campus over the next six years. The company acquired the facility as part of its acquisition of Bayer’s animal health business. (Messengernews.net)
• Boehringer Ingelheim announced that the FreVAX intramuscular needle free device can now be managed via the 2.0 version of the FreVAX smartphone app. New features include easy management of vaccination events; self-diagnostics and multiple languages settings; improved support; and export of consistent vaccination reports with high data quality. (company press release)
• Virbac announced it has acquired iVet, a US-based specialty pet food company. The company said the deal will provide it with expertise in distribution, logistics and e-commerce. Financial terms were not disclosed. (IHS Markit Connect)
• Vetoquinol USA announced the launch of Imoxi (imidacloprid + moxidectin) Topical Solution for Dogs, a once-a-month topical formula trusted for broad-spectrum protection against fleas, heartworm, sarcoptic manage, and intestinal parasites. (company press release)
• The FDA announced it has fully approved VetDC‘s Tanovea (rabacfosadine injection) to treat lymphoma in dogs. Tanovea initially received a conditional approval in December 2016. (FDA)
• LexaGene has introduced a new version of its in-clinic multiplex MiQLab Bacterial and AMR Panel. The new assay panel screens for 10 pathogens and 35 genes that confer antimicrobial drug resistance. The firm said the panel is potentially able to detect 96% of bacterial UTIs, as well as 93% of bacterial skin and soft tissue infections. (IHS Markit Connect)
• Vidium Animal Health announced it has launched SpotLight ePARR, a highly accurate and rapid molecular diagnostic test for canine lymphoma. SpotLight ePARR can be used with diverse sample types, including formalin-fixed, paraffin-embedded tissues; flow cytometry pellets; and air-dried, fine-needle aspirates; with results of the test delivered in 5–7 days. (einnews.com)
• MetLife announced the launch of MetLife Pet Insurance. MetLife pet policies include access to telehealth concierge services and grief counseling, among other benefits. Independence American Insurance will underwrite and issue the policies. (Todays Veterinary Business)
• EquiTrace has launched an app that enables trainers to keep track of a horse’s health and identity with a quick scan of a chip. EquiTrace works with all ISO-compliant microchips, and is a subscription service; a scanner available from EquiTrace as a one-time cost is required to operate the system. (company press release)
• Cargill and Intelia have entered into a partnership to distribute Intelia’s COMPASS broiler platform in the US and Canada. COMPASS is a precision livestock tool designed to help broiler producers monitor, manage, model and enhance decision-making at the flock level. (Feedstuffs)
• INDIA Cadila Healthcare announced that its wholly-owned subsidiary Zydus Animal Health and Investment has completed sale of its animal healthcare established markets undertaking to Multiples Alternate Asset Management-led consortium for Rs 2,921 crore ($440 million). The consortium, including Canada Pension Plan Investment Board and RARE Enterprises, agreed to purchase the undertaking through a special purpose vehicle controlled by them, in the name of Zenex Animal Health India. (Moneycontrol.com)
• CANADA PHI Direct announced the launch in Canada of Fluff-free Pet Health Insurance for pet owners looking for introductory coverage for their pet at affordable price points. The new PHI Direct plan is based on the idea that, after the initial upfront medical expenses are taken care of, the pet owner is better able to manage ongoing costs of care for that specific condition.  (Linkedin)
• FINLAND GekkoVet announced the launch of GekkoCompass, a subscription service for veterinarians that creates a list of possible diagnoses in probability order based on the pet’s symptoms, laboratory results and other findings. After a particular diagnosis is selected, the appropriate treatments are then suggested to the veterinarian. GekkoVet has also launched PetCompass to provide a similar information service to pet owners in partnership with Swedish business If P&C Insurance, which is offering its pet insurance customers the premium version of the PetCompass application for three months free of charge. (IHS Markit Connect)

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ANIMAL HEALTH STOCK PRICE TRACKER

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ANIMAL HEALTH NEWS

• US – BOVINE TB A 30-head herd of cattle on Molokai, Hawaii, will be depopulated after one of the cows was found to have bovine tuberculosis, marking the first case on the island since 1997. The herd had been moved to the eastern side of the island, where TB was previously found in wildlife. (AVMA Smartbrief – Honolulu Star-Advertiser)
• US – FDA GUIDANCE The FDA issued final Guidance for Industry (GFI) #261, entitled “Eligibility Criteria for Expanded Conditional Approval of New Animal Drugs,” for public comment. The agency received three comments on the draft guidance, which was finalized with limited clarifying changes. (FDA)
• US – DRUG SAFETY The FDA announced the launch of the Animal Drug Safety-Related Labeling Changes webpage, a new resource to improve transparency and communication with veterinarians, animal producers and consumers about safety-related labeling changes made to FDA-approved animal drug products. The webpage will be updated on a monthly basis when changes to drug labeling are approved by the FDA. (FDA)
• US – LEGISLATION The Farm System Reform Act was introduced in the US Senate to place a moratorium on large concentrated animal feeding operations, strengthen the Packers and Stockyards Act and require mandatory country of origin labeling on beef, pork and dairy products. According to its sponsors, the Act attempts to revitalize independent animal agriculture and uplift farmers and rural communities. (Feedstuffs.com)

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BRAKKE CONSULTING VIEWPOINT

This week’s newsletter includes announcements of not one but two new pet insurance companies. Pet insurance has certainly become a crowded market in the past decade or two – there are now nearly two dozen companies offering pet insurance policies in North America.

While there is a lot of activity in the segment, insured pets are still fairly uncommon.  According to the 2021 NAPHIA (North American Pet Health Insurance Association) report, only about 3.5 million pets in North America are insured, which is less than 5% of pets who regularly see a veterinarian.  Still, the market now exceeds $2 billion, not insignificant.  Interestingly, surveys of pet owners typically over-state the number of insured pets: the AVMA’s 2018 Pet Owner Demographics Study reported about 10 million dogs and 4 million cats were insured according to their owners; and the APPA’s National Pet Owner Survey found similar numbers.

Regardless of the current insured pet population, the consensus is that the market is growing rapidly – NAPHIA’s report stated that the number of pets insured in North America had increased 23% from 2019 to 2020 – the sixth consecutive year of double-digit growth. I guess that’s why we are still seeing companies willing to jump into the pet insurance pool.

Lynn Fondon

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YOUR VIEW

Last week we asked if you would vaccinate your pets for COVID-19, if a vaccine were available. Most of you – 61% – said that you would not vaccinate your pets. 13% said you would opt for the vaccine, and the rest weren’t sure. Given that our previous polls have shown that the majority of our readers are themselves vaccinated, it appears that most of you believe that COVID-19 is not a serious health issue for dogs and cats.

This week

This week, let’s find out how common pet insurance is with our readers.

Do you personally know anyone who has pet insurance?