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Animal Health News & Notes for February 28, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for February 28, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Alpharma reported that sales of its animal health division in the 4th quarter 2002 were $88.3 million, an increase of 34% over the fourth quarter 2001. Management noted that the animal health division had good results but that 2001 was an unusually low quarter. For the full year, animal health sales declined 4% to $322 million. (company website) > Nestle reported that year-end 2002 sales of its petcare division were CHF 10,719 million ($7,732 million), an increase of 72% over year-end 2001. Earnings before interest, taxes and adjustments were CHF 1,418 million ($1,023 million), an increase of 213% over 2001. Nestlé Purina PetCare USA managed to grow both sales and market share while undergoing a very successful integration process. Nestlé Purina PetCare Europe focused on improving margins through product rationalization. Nestle began consolidating sales of Ralston Purina on January 1, 2002. (company website) > AVANT Immunotherapeutics, Inc. reported financial results for the year ended December 31, 2002. For the year ended December 31, 2002, the Company reported a net loss of $13.8 million compared to a net loss of $22.8 million for fiscal 2001. The full year results for 2002 reflect an increase in revenue combined with a
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February 28, 2003
Animal Health News & Notes for February 21, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for February 21, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Akzo Nobel announced that year-end 2002 sales for its animal health division Intervet were down 1% to 1,081 million euros ($1,133 million), due to pressure from soft market conditions, particularly in Latin America, and weak key currencies. Sales for the fourth quarter 2002 were 264 million euros ($277 million). (company website) > Pharmacia reported that its Animal Health division continued its growth with sales up 7% in the quarter to $134 million, and up 8% for the full year to $506 million. (company website) > Provimi sa announced that unaudited preliminary results showed that sales rose 2.2% in 2002 to 1.5 billion euros ($1.63 billion). The company indicated that premix and specialty businesses in Netherlands, France and Spain strengthened considerably, and that China also reported improved results. But restructuring costs in the French aquafeed business, plant start-up costs in Chile and continued weakness in Poland reduced preliminary operating income by 0.7% to 94.7 million euros. (Watt Feed Enews) > Patterson Dental announced that sales of the Webster Veterinary Supply unit in the third fiscal quarter ended January 25, 2003 increased 8% to $40.2 million. (Business Wire) > Virbac Corporation reported financial results for the fourth quarter and twelve
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February 21, 2003
Animal Health News & Notes for February 14, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for February 14, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Virbac SA announced provisional turnover for the year 2002 was 367 million euros ($388 million), an increase of 5% over 2001. The companion animal business grew 10% reinforced by sales of new products. The animal feed business recorded a 3% decrease following Virbac’s decision to reduce this activity in Brazil. (Animal Pharm) > Dainippon reported net sales of 12.4 billion yen ($103 million) for its animal science division for the first half of the fiscal year. Sales through September 30, 2002 showed a 6.5% increase over the comparable period in the prior year. (Animal Pharm) > Heska reported financial results for the year ended December 31, 2002. Total companion animal health product sales for the year were up 10% to $35.9 million, while total food animal health product sales for the year were up 4% to $14.2 million. (company press release) > Evialis reported turnover for the first nine months of 2002 were 552 million euros ($589 million) a decrease of 5.7%. Third quarter turnover fell to 168 million euros ($179 million) compared with 180 million euros in the prior year third quarter. The downturn in demand for the company’s main product range was partially offset by the
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February 14, 2003
Animal Health News & Notes for February 7, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for February 7, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Aventis reported that full-year sales for 2002 for its animal health business Merial – a 50-50 joint venture with Merck & Co. – rose 4% on an activity basis to EUR 1.825 billion ($1.9 billion). This figure includes the poultry genetics business. (Business Wire) > Colgate-Palmolive reported results for the fourth quarter and full year 2002. Hill’s Pet Nutrition’s (14% of Company Sales) fourth quarter unit volume grew 5.0%, dollar sales increased 9.0% and dollar operating profit grew 16% to an all-time record high. Continued improvements in supply chain efficiencies generated savings that funded record high levels of advertising for the quarter and the year. For full year 2002, volume increased 5.5%, dollar sales grew 7.0% and operating profit grew 13% versus 2001. At 14% of company sales, Hill’s full-year sales would be an estimated $1.3 billion. (Business Wire) > Procter & Gamble reported that pet health and nutrition (the Iams Company) volume increased 10% behind continued growth in the United States. (company website) > ImmuCell Corporation announced the results of its operations for the fourth quarter and year ended December 31, 2002. During the year ended December 31, 2002, total revenues decreased by 7% to $6.2 million
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February 7, 2003
Animal Health News & Notes for January 31, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for January 31, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Wyeth Labs reported fourth quarter and full year results for 2002. Revenues for its animal health division Fort Dodge declined 22% to $170 million in the fourth quarter of 2002, primarily due to lower sales and higher than projected returns of ProHeart offset, in part, by higher sales of the company’s West Nile vaccine for horses. Revenues for the full year declined 16% to $653 million. (company website) > IDEXX Laboratories, Inc. reported that net income increased 30% to $12.8 million for the quarter ended December 31, 2002, from $9.8 million for the same period in the prior year. Revenue for the fourth quarter of 2002 increased 11% to $105.9 million from $95.1 million for the fourth quarter of 2001. Companion Animal Group revenue for the fourth quarter of 2002 increased 12% to $83.7 million from $74.9 million for the fourth quarter of 2001. This increase resulted primarily from increased sales of instrument consumables, laboratory services and rapid assays, and sale of 114 units of the Company’s LaserCyte hematology system, which was introduced commercially in the quarter. Net income increased 21% to $45.4 million for the year ended December 31, 2002, from $37.6 million for 2001. Revenue for
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January 31, 2003
Animal Health News & Notes for January 24, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for January 24, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Pfizer announced that Animal Health sales in the fourth quarter of 2002 increased 8% to $325 million, compared to the same period in 2001. This performance was led by the strong growth of companion-animal products Revolution, Clavamox, and Synulox; and livestock medicine RespiSure/Stellamune. Full-year Animal Health sales increased 10% to $1.119 billion. (company website) > Eli Lilly announced that worldwide sales of its animal health subsidiary Elanco in the fourth quarter of 2002 were $195.5 million, an increase of 4% compared with the fourth quarter of 2001. For the full year of 2002, animal health sales increased 1%, to $693.1 million. Excluding the effect of exchange rates, sales increased by 6% for the quarter and 3% for the year. (Business Wire) > Schering-Plough reported fourth quarter 2002 sales of its animal health division were $193 million, a decrease of 4% over the fourth quarter of 2001. Sales for the full year decreased 2% to $677 million. (company website) > Novartis announced results for the year 2002. In Animal Health, sales were up 10% in local currencies (1% in CHF) to CHF 970 million ($626 million), driven by double-digit growth in the LATAM region and the US, where the
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January 24, 2003
Animal Health News & Notes for January 17, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for January 17, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > ConAgra reported that sales for the second quarter of the 2003 financial year fell by 19% to $6.0 billion. Meat Processing sales were $1.1 billion, a fall of 58% compared to the same period in the 2002 financial year. Meat Processing sales were substantially lower compared to the previous year because of the sale of the fresh beef and pork business. Sales for the first half of the 2003 financial year were down by 13% at $13.0 billion. Meat Processing sales were $3.6 billion, a decrease of $1.7 billion, or 32%. (Wattnet Meatnews) > Alcide Corporation reported strong growth in food safety sales as its animal health and surface disinfectants channel shows improvement in its fiscal 2003 second quarter, ended Nov. 30, 2002. For the quarter, Alcide earned $435,000 on revenues of $5.8 million. In the second quarter a year ago, Alcide earned $439,000 on revenues of $5.7 million. In the first six months of the fiscal year, Alcide generated net income of $497,000 on revenues of $10.8 million compared to $760,000 on revenues of $11.1 million in the like period a year earlier. (Business Wire) > Cargill Inc. reported $319 million in earnings from its second quarter,
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January 17, 2003
Animal Health News & Notes for January 10, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for January 10, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY NEWS RELEASES > KMG Chemicals, Inc. announced its acquisition of the Rabon insecticidal product lines of Boehringer Ingelheim Vetmedica, Inc., effective as of December 30, 2002. As part of the transaction, KMG has also acquired the product registration for Ravap Insecticide Spray. Both KMG and Boehringer Ingelheim Vetmedica will produce and market this spray composed of Rabon and other ingredients. Boehringer Ingelheim Vetmedica will continue to market the product under its Ravap trademark. Other assets acquired in the transaction include equipment, certain inventory, product registrations for other Rabon products, and other intangible assets. Financial terms were not disclosed. (company press release) > Synbiotics Corporation announced that Paul Hays has joined the Company as President and Chief Operating Officer. Mr. Hays was also appointed to the Synbiotics Corporation Board of Directors. Mr. Hays brings eighteen years of experience in the animal health market. He was previously employed at Boehringer Ingelheim Vetmedica, Inc. for approximately ten years where he served in various senior management positions. Mr. Hays has also served on the Boards of the Animal Health Institute and the American Feed Industry Association. (Yahoo News) > Intervet has signed a research agreement with Oxford BioMedica to develop TroVAX-VET, an anti-cancer gene therapy
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January 10, 2003
Animal Health News & Notes for January 3, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for January 3, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY NEWS RELEASES > H.J. Heinz Co. announced it has completed a $1.2 billion deal that sends StarKist tuna, 9-Lives cat food and other brands to Del Monte Foods Co. and allows the company to concentrate on its core products. The deal, which was first announced in June, gives Heinz shareholders a 75 percent stake in Del Monte. Del Monte will also assume $1.1 billion in Heinz debt. In the deal, Del Monte picks up Heinz’s American tuna, private label soup and infant feeding businesses. It also gets Heinz’s U.S. and Canadian pet food and pet snacks. (AP) > The FDA amended the animal drug regulations to reflect approval of an abbreviated new animal drug application (ANADA) filed by Phoenix Scientific, Inc. The ANADA provides for the veterinary prescription use of an injectable praziquantel solution in dogs and cats for the removal of various species of cestodes (tapeworms). (AnimalNet – Federal Register) > Novus International and its wholly-owned subsidiary Viridus Animal Health announced that the USDA approved its new product for the control of coccidiosis in broiler chickens. Advent Coccidiosis Control is a vaccine with a precise dose of purified, viable, sporulated oocysts and contains the three species of Eimeria that most
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January 3, 2003
Animal Health News & Notes for December 27, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for December 27, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** BRAKKE CONSULTING VIEWPOINT We hope all of you are having an enjoyable and relaxing Holiday. With just a few days left in the year we want to take this opportunity to thank all of our clients and readers for your support and business in 2002. You’ve continued to make Brakke Consulting a leading service provider and for that we THANK YOU. Since there are few news stories to report this week, we have decided to use this newsletter to report some of our current and planned activities for 2003 at Brakke Consulting. We wish you a Happy and Prosperous 2003. Ron Brakke Dick Wilson John Mannhaupt John Volk John Short Dr. Lynn Fondon Eli Thomssen Ken Berkholtz Jay Lockhart Dr. Gilles Guillemette Dick Miles Dr. Atsuo Hata Roger Cummings Dr. Karen Felsted Dr. Jim Guenther and Jane Morgan ****************************************************************** Brakke Consulting Planned Activities in 2003: 2003 OVERVIEWS IN ORLANDO & LAS VEGAS The 2003 Animal Health Industry presentation will include information including sales estimates for 2002 along with forecasts for the future, including the outlook for leading companies and products. The focus will be on the US with some international aspects. Some specific areas are: – what will the Animal Health business
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December 27, 2002
Animal Health News & Notes for December 20, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for December 20, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > ConAgra Foods reported results for the second quarter for its food business. Comprising Packaged Foods, Food Ingredients, and Meat Processing, the division had sales of $4.8 billion for the second quarter and $10.6 billion for the first half of the 2003 financial, down as planned from $6.3 billion and $12.3 billion, respectively, on last year. First half sales in the Meat Processing sector were $1.1 billion and operating profits were $17 million, which were substantially lower compared to last year because of the reduction in the size of the sector following the decision to sell the fresh beef and pork business. (Wattnet Meatnews) ****************************************************************** LAST DAY TO ORDER AT THE EARLY-ORDER PRICE! THE 2002 US FLEA AND HEARTWORM REPORT This year’s report includes an all-new survey of 250 dog and cat owners, as well as a new veterinarian survey. The veterinary survey includes information on new products including ProHeart 6, Iverhart Plus, and Revolution. In addition, Bayer’s just-launched K9 Advantix is profiled in the report. Product sales and trends for the veterinary products, as well as an overview of the trends in OTC sales, are also included. The report will be available until December 20, 2002 at an
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December 20, 2002
Animal Health News & Notes for December 13, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for December 13, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Sanderson Farms reported that net sales for the fourth quarter of fiscal 2002 were $201.0 million, compared with $206.6 million for the same period a year ago. For the quarter, the company reported net income of $6.5 million, compared with net income of $12.8 million for the fourth quarter of fiscal 2001. For the fiscal year ended Oct. 31, 2002, net sales were $743.7 million, a 5.3% increase compared with net sales of $706.0 million for 2001. The company reported net income of $28.8 million for fiscal 2002, compared with net income of $27.8 for fiscal 2001. (Meating Place) > Central Garden & Pet Company announced financial results for the fiscal fourth quarter. Net income for the fiscal fourth quarter increased to $751,000 from a loss of $13.7 million in the comparable 2001 period. Net sales for the 2002 quarter were $240.8 million compared to $246.3 million in the year-ago period. Sales declined slightly due to lower sales of other manufacturers’ products, partially offset by increases in branded product sales. (Business Wire) ****************************************************************** NOW AVAILABLE: THE 2002 US FLEA AND HEARTWORM REPORT This year’s report includes an all-new survey of 250 dog and cat owners, as well as
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December 13, 2002
Animal Health News & Notes for December 6, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for December 6, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > PETsMART, Inc. announced results for its third quarter, which ended Nov. 3, 2002. The company reported third quarter net income of $20.7 million versus net income of $5.8 million for the third quarter of 2001. Net sales for the third quarter of 2002 were $657 million, compared to $599 million last year. Comparable store sales grew 9% over the third quarter of last year. Services sales for the third quarter were $36.7 million, up 30.5% compared with the third quarter of last year, an increase that continues to reflect the company’s focus and investment in growing pet services. (Business Wire) > Dainippon Pharmaceuticals reported sales for its animal science division for the first half of the fiscal year. The company reported that net sales for the six months ended September 30, 2002 rose by 6.0% to Yen 12.4 billion ($103 million) compared to the prior-year period, accounting for 15.7% of the company’s total sales. (company information) > H.J. Heinz announced that second quarter (ended October 30) sales for U.S. and Canadian pet products were $227.5 million, a 4.8% decline from the prior year, principally due to the planned exit from certain private label items. Operating income for pet
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December 6, 2002
Animal Health News & Notes for November 27, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for November 27, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Happy Thanksgiving. The newsletter is being broadcast this week on Wednesday rather than Friday due to the Thanksgiving holiday in the US. We hope everyone in the US enjoys their holiday. ****************************************************************** GET READY! Brakke Consulting’s 2002 US Flea Control and Heartworm Markets will be available the first week of December, immediately after the US Thanksgiving holiday. This year’s report will include an all-new survey of 250 dog and cat owners, as well as a new veterinarian survey. Product sales and trends for the veterinary products, as well as an overview of the trends in OTC sales, will also be included in the report. The report will be available until December 20, 2002 at an early-order price of $3,500. Studies ordered after the Christmas holiday will be priced at $4,000. For more information, call 972-243-4033 or email Dr. Lynn Fondon at lfondon@brakkeconsulting.com. ******************************************************************** COMPANY NEWS RELEASES > IDEXX Laboratories, Inc. announced it has been informed verbally by the FDA that the FDA expects to provide further comments to the Company regarding its application for approval of nitazoxanide. As a result the Company anticipates an additional delay in the introduction of nitazoxanide. Nitazoxanide is a product for the treatment of equine protozoal myeloencephalitis
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November 27, 2002
Animal Health News & Notes for November 22, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for November 22, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Patterson Dental reported that sales of the Webster Veterinary Supply unit increased 4.1% in the second quarter (ended October 26, 2002) to $45.2 million. Webster’s performance was affected by the decision of the manufacturer of a major heartworm medication to scale back sales and marketing support for this product during the fall months. Excluding this factor, Webster’s sales rose approximately 16% in the second quarter, well above planned levels. (Business Wire) > Smithfield Foods reported earnings of $4.1 million in the quarter ended Oct. 27, down 93% from $60.5 million in the same quarter last year. Low prices for hogs and a weak market for fresh pork products lowered earnings sharply in the second fiscal quarter for the nation’s largest pork processing company. Sales rose 17% to $2 billion from $1.7 billion in the second quarter last year, with higher sales in the company’s beef and processed meats businesses helping make up for a 36% decline in hog production revenue. (AP) ******************************************************************* GET READY! Brakke Consulting’s 2002 US Flea Control and Heartworm Markets will be available the first week of December, immediately after the US Thanksgiving holiday. This year’s report will include an all-new survey of 250 dog
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November 22, 2002
Animal Health News & Notes for November 15, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for November 15, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Bayer reported sales for the third quarter 2002 for its animal health division were 223 million euros ($220 million), a decrease of 3% over the third quarter of 2001. Operating results for the third quarter were flat at 51 million euros ($50 million). Sales for the 9 months ended September 30, 2002 were 638 million euros ($625 million), essentially flat compared to the prior-year period. Operating results for the first nine months 2002 were 144 million euros ($141 million), an increase of 10% over the prior-year period. (company website) > Doane Pet Care Company reported results for its third quarter and nine months ended September 28, 2002. The Company reported net income of $2.8 million for its third quarter ended September 28, 2002 on net sales of $216.3 million, compared to breakeven net income on net sales of $206.3 million for the third quarter ended September 29, 2001. Net sales increased 4.8% for the 2002 third quarter compared to the 2001 third quarter primarily due to increased U.S. dry dog food volume and new business awarded earlier this year. (PRNewswire) > Synbiotics Corporation announced financial results for its third quarter ended September 30, 2002. For the quarter, the
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November 15, 2002
Animal Health News & Notes for November 8, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for November 8, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > PetMed Express, Inc. announced results for the quarter ended September 30, 2002. Net sales for the quarter ended September 30, 2002 were $14.2 million, compared to $7.8 million for the quarter ended September 30, 2001, an increase of 83%. Net sales for the six months ended September 30, 2002 was $29.1 million, compared to $13.1 million for the six months ended September 30, 2001, an increase of 121%. PetMed Express also reported new customer growth of approximately 114,000 customers for the second quarter of fiscal 2003, with 47% of those new customers ordering through the company website. (Business Wire) > Church & Dwight Co., Inc. reported third quarter 2002 net income of $17.6 million, a 13.5% increase over the $15.2 million in the same period last year. Total Church & Dwight sales for the third quarter, excluding Armkel and other affiliates, increased 10.7% to $263.8 million from $238.4 million last year. This increase is primarily due to the Arrid antiperspirant and Lambert Kay pet care product lines acquired from Carter-Wallace late in 2001. (Business Wire) > Heska Corporation reported financial results for its third quarter ended September 30, 2002. During the third quarter of 2002, Companion Animal Health
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November 8, 2002
Animal Health News & Notes for November 1, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for November 1, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Aventis reported that in the first nine months of 2002, sales by its animal health business Merial rose 6% on an activity basis to 1.44 billion euros ($1.4 billion). This figure includes the poultry genetics business. (company press release) > Alpharma reported sales for the third quarter 2002 for its animal health division were $84.6 million, compared to sales of $67.9 million in the third quarter of 2001. Operating margin in 2002 increased to 11.9% compared to 4.1% in last year’s third quarter. Sales for the first nine months of 2002 were $234 million compared to sales of $269 million in 2001. Animal Health revenues, operating income, and operating margins have improved sequentially each quarter in 2002. (company website) > Nestle announced that sales for its petcare division for the first nine months of 2002 were 7.8 billion euros ($7.6 billion), an increase of 75% over the nine-months sales of 4.5 billion in 2001. Real internal growth for the period was reported to be an increase of 0.7%. (company website) > Virbac Corporation reported record sales and operating income for the third quarter ended September 30, 2002. For the third quarter 2002, net sales reached a record $15.9
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November 1, 2002
Animal Health News & Notes for October 25, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for October 25, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Akzo Nobel reported that third quarter 2002 sales for its animal health division Intervet were under pressure from weak currencies and soft market conditions, particularly in Latin America. Sales were 264 million euros ($260 million), a decrease of 4% from the third quarter 2001. Sales for the first nine months were 817 million euros ($800 million), essentially flat compared to the first nine months of 2001. (company website) > Wyeth reported that third quarter 2002 sales for its animal health division Fort Dodge decreased 37% to $128 million, primarily due to lower sales and higher than projected returns of ProHeart 6 offset, in part, by higher sales of the company’s West Nile virus vaccine for horses. Sales for the first nine months decreased 14% to $484 million. (company website) > Eli Lilly reported that third quarter 2002 sales for its animal health division Elanco decreased 6% to $168 million compared to the third quarter of 2001. (company website) > Schering Plough reported that third quarter 2002 sales of its animal health division decreased 4% to $162 million, due to market conditions for swine products in the US coupled with weakness in certain international markets. For the first nine
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October 25, 2002
Animal Health News & Notes for October 18, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for October 18, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Pfizer reported that animal health sales in the third quarter 2002 increased 10% to $280 million, compared to the same period in 2001. This solid performance was led by the strong growth of companion animal products Revolution, Rimadyl, and Clavamox/Synulox and of the livestock medicine RespiSure/Stellamune. (company website) > Novartis reported that animal health sales for the third quarter 2002 were CHF 234 million ($148 million), an increase of 4% over the third quarter 2001. The first nine months of 2002 increased 4% (12% in local currencies) to CHF 746 million ($473 million). US sales grew strongly, supported by acquired vaccine businesses, which contributed 5 percentage points to the business unit’s sales growth. The worldwide companion animal segment was driven by strong sales of Interceptor, Sentinel and Fortekor. A number of new products were launched in key markets, and the farm animal segment benefited from the recovery of the UK foot and mouth epidemic. (company press release) > Colgate-Palmolive reported results for the third quarter 2002. Hill’s Pet Nutrition (13% of Company Sales), reported strong results both domestically and internationally that contributed to 6.5% unit volume growth in the third quarter. Dollar sales rose 8.0% versus third quarter
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October 18, 2002
Page 64 of 73
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