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Brakke Consulting’s
Animal Health News & Notes for June 5, 2020
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting news
Market research reports
Earnings News
Benchmark
J.M. Smucker
Other News
Bayer
Bimeda
Chengdu Kehongda Technology
Creso Pharma
Cytozyme Laboratories
Dechra Pharmaceuticals
Felix Pharmaceuticals
Hill’s
nextProtein
TeleVet
Texas Vet Lab
VetBio
XpertSea Solutions
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BRAKKE CONSULTING, INC.
MARKET RESEARCH REPORTS
Brakke Consulting is an industry leader in timely market research on topics of high interest to stakeholders in the animal health, pet and veterinary markets. Reports published in the past two years include:
- COVID-19: Impact on Pet Care (May 2020)
- Pet Health Products: Changing Channels (January 2020)
- US Flea Control and Heartworm Markets (December 2019)
- Pain Management Products for Dogs and Cats (May 2019)
- Field Sales and Veterinary Teams (January 2019)
- Manufacturer Sales Force Effectiveness Study (December 2018)
- The Companion Animal Veterinary Telehealth Landscape (October 2018)
- Veterinary Practice Home Delivery (May 2018)
Prices for reports vary. For more information about these or other reports, visit our website by clicking here, or contact us at info@BrakkeConsulting.com.
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COMPANY EARNINGS RELEASES
- The M. Smucker Company announced results for the fourth quarter of its 2020 fiscal year ending April 30, 2020. US Retail Pet Food segment revenues were $768 million, an increase of 6% over the prior-year quarter. Segment net profit was $149.6 million, an increase of 14%. (company website)
- UK aquaculture specialist Benchmark announced results for the first half of its fiscal year 2020. The company recorded sales of GBP 57 million ($70.1 million), a year-on-year decline in revenues of 15%. The firm’s loss for the period totaled GBP(18.8) million ($23 million) – an increase of 106% year-on-year. (Animal Pharm)
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COMPANY NEWS RELEASES
- Bayer announced partnerships with farm management technology company XpertSea Solutions and water treatment firms Cytozyme Laboratories and Chengdu Kehongda Technology to provide major shrimp-producing markets with greater access to pond water environment management technologies. The company said the technology from the three companies will help shrimp farmers enhance their operational efficiency and sustainability. (Animal Pharm)
- Dechra Pharmaceuticals announced it has raised GBP 133.4 million ($164 million) in a placing to fund the acquisition of Osurnia from Elanco and bolster its finances as it looks to weather any COVID-related disruption. The company placed just over 5.1 million shares, or 5% of the existing issued share capital, at 2,600p each. (Sharecast.com)
- Bimeda announced the formal renaming of acquired vaccine production, research and diagnostic company, Texas Vet Lab Inc. (TVL), as Bimeda Biologicals Inc. Bimeda said both TVL and the VetBio Inc. divisions of the business will henceforth operate under the new Bimeda Biologicals Inc. legal name. (Feedstuffs)
- The FDA announced the approval of Felix Pharmaceuticals‘ generic Enrofloxacin Flavored Tablets for dogs and cats. (FDA)
- TeleVet announced a partnership with Hill’s Pet Nutrition to provide Hill’s veterinary customers with 60 days of free use of its telemedicine platform. (Daily-Journal.com)
- AUSTRALIA Creso Pharma announced it will issue roughly 35.6 million new shares at six cents a share to raise $2.1 million through a share placement. The new money will be used to keep growing the company’s human and animal health cannabidiol (CBD) product lines, pay back some debt, and general working capital. (themarketherald.com.au)
- FRANCE nextProtein announced it has received EUR 10.2 million ($11.1 million) in series A funding to boost production of its insect-based animal feed. The firm uses black solider fly larvae (Hermetia illucens) to convert food waste – specifically fruit and vegetables – into animal feed. Its product line includes protein powder for aquaculture, poultry, pigs and pets. The funding round was coordinated by French investment firm Blue Oceans Partners. (Animal Pharm)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – SARS-CoV-2 The USDA’s National Veterinary Services Laboratories (NVSL) publicly confirmed the first case of SARS-CoV-2 coronavirus infection in a pet dog in the US, after the dog showed signs of respiratory illness. The owner of the dog, a German Shepherd in New York, tested positive for the virus prior to the dog. Another dog in the house exhibited no symptoms, but did carry antibodies that suggested exposure to the pathogen. Earlier reports of infection in a pet dog, a Pug named Winston, proved to be incorrect. (Petfood Industry)
- US – DRUG REGULATION The FDA issued the final version of “Guidance for Industry #240: Proprietary Names for New Animal Drugs.” The guidance is meant to provide recommendations to assist sponsors in developing proprietary names for new animal drugs in order to avoid contributing to medication errors, negatively affecting safe use of the drug or misbranding the drug. (FDA)
- US – PET IMPORTATION A new bipartisan bill, Healthy Dog Importation Act, was introduced in the US House of Representatives. The bill would require every dog entering the US to have a certificate of veterinary inspection, ensuring the animal has received all necessary vaccinations and has tested negative for illness. (APPA enews)
- US – ANIMAL POPULATIONS The FDA announced it is revising its estimates of the numbers of cats and horses in the US for determination of minor uses in major species, based on information from the American Veterinary Medical Association (AVMA) and the United States Department of Agriculture (USDA). The FDA revised the population estimate of cats in the US downward from 74 million to 58.4 million, a 21% decrease. For horses, the FDA estimated the US horse population at 3.8 million, a 22% decrease from the previous estimate of 4.9 million horses. (FDA)
- UK – POULTRY VACCINE RESEARCH The Pirbright Institute reported that it has created the first recombinant vaccine for simultaneous protection against four viral poultry diseases: Marek’s disease, turkey herpesvirus (HVT), infectious laryngotracheitis virus (ILTV) and H9N2 avian influenza virus (AIV). (Animal Pharm)
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BRAKKE CONSULTING VIEWPOINT
As we start to emerge from the restrictions set in place to slow the spread of SARS-CoV-2, we’re all wondering what kind of economic recovery we can expect. For many parts of the economy, like the travel and hospitality industries, it is likely to be a slow, painful process. Travel may not be discouraged, but many people will think twice about non-essential travel plans for months to come, as can be seen in the results of last week’s poll below. The same goes for the entertainment and sports industries, which rely on ticket sales to events that involve a large number of fans in tight quarters.
The animal health industry, in contrast, may be in a better position. A recent report from William Blair affirmed that US veterinary clinic revenue is rebounding and they are predicting a V-shaped recovery scenario, which is the most optimistic route to a return to normal. Other reports show similar results, although there may be some regional variations. We believe that the flexibility that veterinary practices showed in managing patient visits during the lockdowns has positioned them for a rapid return to normal volumes. However, some experts feel that the recovery in the food animal sector of the business will be slower. Let’s hope that the recovery we’re starting to see continues with no unforeseen bumps in the road.
Lynn Fondon
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YOUR VIEW
Last week, we asked when you will be ready to attend one of your usual company or industry conferences or conventions. 30% of you said “when a vaccine is approved”, which could be awhile based on most experts’ timelines. 21% of you are ready now; 20% said sometime this summer or fall; and 24% said early next year, which is encouraging news for VMX and WVC. 5% of you said you’re not sure you’ll ever be ready.
This week’s question:
Did your job move to remotely working from home in reaction to the coronavirus?
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