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Animal Health News & Notes for October 11, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for October 11, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY NEWS RELEASES > Virbac Corporation announced that it has received FDA approval for Equell Paste, an equine anthelmintic product. Equell is a 1.87% ivermectin paste that is biologically equivalent to the current market leaders, Eqvalan and Zimectrin. Equell will be manufactured at Virbac Corporation’s PM Resources facility, in a new production suite built exclusively for this product line. Pfizer Animal Health will be the exclusive North American distributor of the product under a licensing agreement with Virbac. Pfizer Animal Health will distribute Equell through its dedicated Equine Business Division. (Business Wire) > Pierce Biotechnology, a company that manufactures test kits for transmissible spongiform encephalopathies such as BSE, has developed sample collection kits to assist authorities who are tracking the spread of chronic wasting disease (CWD) in the U.S. deer population. The kits are designed to ensure a consistent and optimal process of obtaining deer tissues that will lead to quality test results for CWD. Pierce is marketing the kit to authorities who will use the kits to collect cervid brain stem, lymphatic tissue and other tissues necessary for laboratories to use in testing for CWD. (PRNewswire) > Ceva Sante Animale signed a draft agreement to acquire a controlling interest in the
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October 11, 2002
Animal Health News & Notes for October 4, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for October 4, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** In order to receive the HTML version instead of the text version of this newsletter, use the link at the bottom of this week’s newsletter that states: “If you would like for us to remove your name from the circulation list, or if you need to change your profile or email address, please click here”. Then click on the button below your email address that says HTML, and click “Update subscription.” ****************************************************************** COMPANY EARNINGS RELEASES > Wyeth reported in its analyst conference that the animal health division Fort Dodge Animal Health will be hurt by lower sales and higher-than-projected returns of ProHeart 6, an injection to prevent heartworm in dogs that must be given by a veterinarian every six months, rather than the standard pill pet owners can feed their dogs every month. (company website) > CANADA Pethealth Inc. reported a net loss of $1.5 million on sales of $823,000 for its second quarter ending June 30, 2002, compared to a net loss of $2.4 million on sales of $323,000 in the year-ago period. Total issued and outstanding insurance policies increased 110% to over 30,000. (Veterinary Practice News) ******************************************************************* SENIOR SLOW PITCH SOFTBALL WORLD SERIES IN PLANO During this past week, the
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October 4, 2002
Animal Health News & Notes for September 27, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for September 27, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** In order to receive the HTML version instead of the text version of this newsletter, use the link at the bottom of this week’s newsletter that states: “If you would like for us to remove your name from the circulation list, or if you need to change your profile or email address, please click here”. Then click on the button below your email address that says HTML, and click “Update subscription.” ****************************************************************** COMPANY EARNINGS RELEASES > Neogen Corporation announced that net income for the first quarter of its 2003 fiscal year, which ended Aug. 31, was 25% higher than the previous fiscal year’s first quarter. Neogen reported first quarter revenues of $10.9 million, a 12% increase compared to the first three months of fiscal year 2002. The Company’s first quarter operating income was $1.5 million, up from $1,235,000 in the comparable prior year quarter. Neogen’s strong growth in profit was driven in part by an increase in gross margins, to 53.4% of sales in FY 2003, from 50.3% in FY 2002. (company website) ******************************************************************* COMPANY NEWS RELEASES > IBP Fresh Meats, a division of Tyson Foods, is offering consumers a new line of irradiated ground beef products. SureBeam Corp. will electronically irradiate
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September 27, 2002
Animal Health News & Notes for September 20, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for September 20, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** In order to receive the HTML version instead of the text version of this newsletter, use the link at the bottom of this week’s newsletter that states: “If you would like for us to remove your name from the circulation list, or if you need to change your profile or email address, please click here”. Then click on the button below your email address that says HTML, and click “Update subscription.” ****************************************************************** THE NEWEST BRAKKE CONSULTING STUDY IS HERE! ****Cancer in Dogs and Cats**** now shipping > Do you know the leading killer of dogs and cats in the US? > Do you know the #1 health concern of US dog owners? Both of these questions can be answered with a single word: cancer. Pets are enjoying better health and wellness care than ever before, and are living longer because of it. Consequently, geriatric diseases are becoming more commonplace, and cancer is at the top of the list. Find out where the market opportunities are in this growing area of veterinary medicine. Brakke Consulting is now taking orders for the August 2002 report “Cancer in Dogs and Cats.” The report is available for immediate shipping. You may order “Cancer in Dogs and
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September 20, 2002
Animal Health News & Notes for September 13, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for September 13, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** NOTICE TO SUBSCRIBERS: HTML OPTION Brakke Consulting’s electronic newsletter is now available in HTML format in addition to the current text version. The two newsletters are identical except that the HTML version allows you to see font modifications such as boldface type, and you will be able to see and use hyperlinks directly from the newsletter. In order to receive the HTML version instead of the text version, you MUST have a mail program that is HTML-enabled. If you want to receive the HTML version of Brakke Consulting Animal Health News & Notes, use the link at the bottom of this week’s newsletter that states: “If you would like for us to remove your name from the circulation list, or if you need to change your profile or email address, please click here”. Then click on the button below your email address that says HTML, and click “Update subscription.” ****************************************************************** COMPANY EARNINGS RELEASES > H.J. Heinz reported results for the first quarter ended July 31, 2002. Sales in the U.S. Pet Products and Seafood segment decreased 10.3%. Volume decreased 7.7% primarily in pet snacks, canned cat food and dry dog food partially offset by volume increases in tuna. (Business Wire) ****************************************************************** THE
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September 13, 2002
Animal Health News & Notes for September 6, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for September 6, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** NOTICE TO SUBSCRIBERS: HTML OPTION Beginning next week, Brakke Consulting’s electronic newsletter will be available in HTML format in addition to the current text version. The two newsletters will be identical except that the HTML version will allow you to see font modifications such as boldface type, and you will be able to see and use hyperlinks directly from the newsletter. In order to receive the HTML version instead of the text version, you MUST have a mail program that is HTML-enabled. If you want to receive the HTML version of Brakke Consulting Animal Health News & Notes, use the link at the bottom of this week’s newsletter that states: “If you would like for us to remove your name from the circulation list, or if you need to change your profile or email address, please click here”. Then click on the button below your email address that says HTML, and click “Update subscription.” ****************************************************************** COMPANY EARNINGS RELEASES > Evialis announced turnover of 383 million euros ($372 million) for the first half of 2002, an increase of 3.8% over the first half of 2001. The company attributed its progress to the development of value-added activities and international business. (Animal Pharm) > Royal
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September 6, 2002
Animal Health News & Notes for August 30, 2002 – 3rd Anniversary Edition
printer friendly version ****************************************************************** Brakke Consulting’s Animal Health News & Notes for August 30, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > PETsMART, Inc. announced results for its second quarter, which ended August 4, 2002. The company reported second quarter net income of $21.5 million versus a net income of $2.8 million for the second quarter of 2001. Net sales for the second quarter of 2002 were $651.5 million, compared to $582.4 million last year. Comparable store sales grew 11.4% over the second quarter of last year. Services sales for the second quarter were $39.5 million, up 31% compared with the second quarter of last year, an increase that continues to reflect the company’s focus and investment in growing pet services. Year to date, sales increased 11.4 percent, or $132.6 million, to $1.3 billion and net income increased $39.6 million from the first half of last year. (Business Wire) > Ridley Inc. reported results for its fiscal 2002 fourth quarter and year ended June 30, 2002. Ridley reported net earnings of $4.5 million on sales of $156 million, compared with a loss of ($10.4) million on sales of $160 million in the fourth quarter of fiscal 2001. For the fiscal 2002 year, revenues decreased by 1.0% to $690 million, due to volume decreases in complete feed sales
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August 30, 2002
Animal Health News & Notes for August 23, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for August 23, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Boehringer Ingelheim reported results for the first half of 2002. The company reported that the Animal Health business is going through a difficult period in various markets such as the USA and South America. Sales were down slightly by 0.7% cent at EUR 150 million ($150 million). (company website) > Nestle S.A. reported that sales for the first half of 2002 in its petcare division were CHF 5.4 billion ($3.65 billion), an increase of 82% over the first half of 2001. Real internal growth was an increase of 3.7% excluding the effect of the acquisition of Ralston Purina. (company website) > Patterson Dental Company reported results for the first quarter of fiscal 2003 ended July 27. Sales for Webster Veterinary Supply increased 11% to $47.0 million on a pro forma basis. Webster Veterinary Supply also recorded strong operating results in this year’s first quarter. Reflecting the growing synergies between the dental and veterinary supply businesses, Patterson’s eMagine order-entry system was rolled out to Webster’s sales force during the first quarter, and is expected to be available to Webster’s customers by the end of the year. (Business Wire) > Biopure Corporation announced its financial results for the third fiscal
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August 23, 2002
Animal Health News & Notes for August 16, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for August 16, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Dainippon’s Animal Pharmaceuticals Division reported results for the year ending March 31, 2001. For the year, the division reported sales of 24.5 billion yen ($204 million), an increase of 4.2% over the prior year. The strongest growth was recorded in small animal veterinary products. Sales of products for food animals declined 20%, and sales of aquaculture products fell 66%. (animal Pharm) > PetMed Express, Inc. announced results for the quarter ended June 30, 2002, which is the first quarter of the company’s 2003 fiscal year. Net income was $902,000 for the first quarter, compared to a net loss of $1,091,000 for the comparable period last year. Net sales for the quarter were $14.8 million, compared to $5.4 million for the comparable period last year, an increase of 177%. PetMed Express also reported new customer growth of approximately 121,000 customers for the first quarter of fiscal 2003. (Business Wire) > IGI, Inc. reported a net profit of $9.3 million for the second quarter ended June 30, 2002 compared to a net profit of $540,000 for the comparable period in 2001. For the six months ended June 30, 2002, net profit was $8.8 million compared to a $29,000 net profit
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August 16, 2002
Animal Health News & Notes for August 9, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for August 9, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Doane Pet Care Company reported results for its second quarter and six months ended June 29, 2002. The Company reported net income of $5.2 million for its second quarter ended June 29, 2002 on net sales of $204.3 million, compared to a net loss of $6.2 million on net sales of $217.3 million for the second quarter ended June 30, 2001. The Company also reported net income of $13.7 million for the six months ended June 29, 2002 on net sales of $424.4 million, compared to a net loss of $14.9 million on net sales of $468.0 million for the 2001 six months ended June 30, 2001. (PRNewswire) > Central Garden & Pet Company announced financial results for the fiscal third quarter and nine months ended June 29, 2002. Net income for the fiscal third quarter increased to $18.4 million from $7.7 million in the comparable 2001 period. Net sales for the 2002 quarter were $335.6 million compared to $341.8 million in the year-ago period. The improved earnings were driven primarily by a continuing shift to higher margin proprietary garden and pet brands, significant cost reductions in both the Garden Products and Pet Products segments, the elimination of
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August 9, 2002
Animal Health News & Notes for July 26, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for July 26, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Pfizer reported that Animal Health sales in the second quarter 2002 increased 11% to $274 million (up 15% excluding the impact of foreign exchange), compared to the same period in 2001. This strong performance reflected double-digit growth in both livestock and companion animal product lines. Revolution, Rimadyl, Dectomax and RespiSure/Stellamune showed strong sales growth. Sales for the first six months of 2002 increased 10% to $513 million. (company website) > Akzo Nobel reported that for the second quarter 2002, its animal healthcare business Intervet was severely impacted by incidental items (especially obsolete inventories), weak currencies and market conditions in Latin America. (company website) > Wyeth reported that second quarter 2002 sales of its animal health division Fort Dodge were $194 million, an increase of 1% over sales in the second quarter 2001. Sales for the first six months were flat at $355 million. The company reported that sales of West Nile Virus vaccine offset decreases in ProHeart 6 sales. (company website) > Eli Lilly reported that second quarter 2002 sales of its animal health division Elanco were $162 million, an increase of 4% compared with the second quarter of 2001. Excluding the effect of exchange rates, sales grew
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July 26, 2002
Animal Health News & Notes for July 19, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for July 19, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > IDEXX Laboratories, Inc. reported that net income increased 30% to $12,964,000 for the quarter ended June 30, 2002 compared to the same period in the prior year. Revenue for the second quarter of 2002 increased 4% to $105,690,000 from the second quarter of 2001. For the first six months of 2002, net income increased 15% to $20,149,000 compared to the same period in the prior year. Revenue for the first six months increased 5% to $202,241,000. (company press release) > Ceva Sante Animale reported an 11% increase in sales for the first four months of the year, when compared with the same period in 2001. (Animal Pharm) > Pilgrim’s Pride announced net income of $3.3 million for the third fiscal quarter ended June 29, 2002, a $22 million decrease when compared to 2001’s third fiscal quarter net income of $25.3 million. Pilgrim’s Pride also announced net sales for the third fiscal quarter of $637.1 million, a 1.4 percent decrease when compared with the $645.8 million for the same period last year. (Meating Place) > Farmland Industries reported for its fiscal third quarter ended May 31 a net loss of $189.5 million, which included $127.5 million in pre-tax restructuring
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July 19, 2002
Animal Health News & Notes for July 12, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for July 12, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY NEWS RELEASES > Novartis announced that, after 12 years in his current position as Head of Animal Health, Hans-Beat Gürtler will retire at the end of August. During his tenure at the helm of Novartis Animal Health, Hans-Beat reengineered the division to its current standalone structure and tripled sales, mainly through a new product portfolio allied to several acquisitions. The new Head of Animal Health will be Kurt Schmidt, who has close to 17 years experience in the consumer goods industry, mainly with Kraft Foods. (company press release) > Merial is sponsoring a public service campaign to raise awareness of rabies. The majority of rabies infection cases reported to state health offices in 200 involved wild animals like raccoons, skunks, and bats, which are seen more often in neighborhoods as urban sprawl continues. Animal health experts recommend owners take their pet to the veterinarian for regular annual visits, discuss rabies and other diseases with their veterinarian, and update all vaccinations. (company press release) > Neogen Corporation announced the release of the world’s first rapid test to ensure ruminant by-products in animal feed and feed supplements are properly labeled. The new test complements the company’s test introduced in early May to detect
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July 12, 2002
Animal Health News & Notes for July 3, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for July 3, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > ******************************************************************* Company News Releases > Schering-Plough has temporarily suspended production of Banamine, Nuflor and Optimmune at its manufacturing plant in Puerto Rico in order to implement GMP programs dictated by a settlement of Schering’s dispute with the FDA over manufacturing standards and quality control measures. Schering is pursuing alternate sources of Nuflor, and perhaps the other product, to satisfy the US demand for the product. Aggregate sales of the products manufactured in Puerto Rico were around $50 million. (Animal Pharm) > Novartis has launched Atopica, a new canine atopic dermatitis product, in Australia and New Zealand. Atopica contains the active ingredient cyclosporine A and is available in a gel capsule formulation. The product has also been approved by the Swiss regulatory authority and Atopica should be available in Switzerland in the near future. (Animal Pharm) > A federal judge in Tampa, Fla., has dismissed an environmental class-action lawsuit against Smithfield Foods Inc. filed by a coalition of plaintiffs’ lawyers led by Robert F. Kennedy, Jr. Last year in a series of news conferences, Kennedy trumpeted his intention to use this and other lawsuits as a means of “shutting down Smithfield’s farm operations.” In dismissing the lawsuit, which sought
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July 3, 2002
Animal Health News & Notes for June 28, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for June 28, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > ConAgra Foods Inc. reported a 58.7% profit increase for its fourth quarter, beating Wall Street estimates. The company earned $192 million for the quarter ended May 26, up from $121 million in the same period last year. Its fourth-quarter sales were steady at $6.4 billion, about the same as a year ago. Sales of packaged foods increased, while sales declined in its meat processing, food ingredients and agricultural products divisions. For the year, ConAgra had net income of $783 million up from $638 million a year ago. Revenue rose to $27.6 billion from $27.1 billion a year earlier. (AP) ******************************************************************* Company News Releases > A chemical drum exploded at the Pfizer Corp. research lab in Groton, CT Tuesday, blowing the roof off a warehouse and injuring seven people, two critically. The explosion happened inside a small warehouse used to store chemicals for making batches of test pharmaceuticals. The blast peeled the metal roof off the building and blew out windows on an adjacent building. About 4,500 people are employed at the Groton facility. Four buildings in the complex were evacuated and roads in the area were blocked off. No residents were evacuated, and police said there was no
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June 28, 2002
Animal Health News & Notes for June 21, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for June 21, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Evialis reported first quarter 2002 sales of 204 million euros ($175 million), with growth of 8% over the comparable prior year period attributable to acquisitions in 2001. (Animal Pharm) > Degussa reported that its feed additives business reached 570 million euros ($510 million), an increase of 16% over the prior year’s figures. Methionine in particular performed well. (Animal Pharm) ******************************************************************* Company News Releases > MWI Veterinary Supply Co. announced that it has a new majority investor, Bruckmann, Rosser, Sherrill & Co., (BRS), that will be providing significant new capital to MWI primarily to fund future growth plans. Agri Beef Co. will remain a substantial investor in MWI. BRS is a private equity investment firm focused on high quality, middle market companies with strong market positions and growth potential. MWI is the largest supplier of animal health products to the veterinary profession headquartered in the western United States. (company communication) > The USDA gave marketing approval to Pfizer for FluSure, a bivalent (H1N1 and H3N2) swine influenza vaccine, as well as FluSure in combination with leading Pfizer vaccines—RespiSure-ONE and RespiSure for mycoplasmal pneumonia, and ER Bac Plus for erysipelas. A combination vaccine for all three diseases is approved
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June 21, 2002
Animal Health News & Notes for June 14, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for June 14, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > PetMed Express, Inc. announced results for the year ended March 31, 2002. Net income was $825,000 for fiscal 2002, compared to a net loss of $2.8 million for fiscal 2001. Net sales for the year ended March 31, 2002 were $32.0 million, compared to $10.0 million for the year ended March 31, 2001, an increase of 220%. PetMed Express also reported new customer growth of approximately 275,000 customers for fiscal 2002, of which 41% ordered through the company website. (Business Wire) > HJ Heinz reported that sales in the U.S. Pet Products and Seafood segment increased 3.2%, primarily as a result of the increased volume (up 5.9%) of StarKist tuna and pet snacks. Unfavorable pricing, primarily related to pet snacks and pet food, reduced sales in those areas. (Business Wire) ******************************************************************* Company News Releases > Procter & Gamble has granted a license to Travel Meals LLC to produce, market and distribute new Travel Meals travel packs featuring Iams dog and cat foods. P&G will share in the revenue and will supply the food and biscuits for the Travel Meals. Travel Meals come packaged in a sturdy plastic container than transforms into food and water bowls. The packages
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June 14, 2002
Animal Health News & Notes for June 7, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for June 7, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > PETsMART reported a first quarter net income for 2002 of $22.1 million, versus a net income of $1.2 million for the first quarter of 2001. Net sales for the first quarter of 2002 were $645.8 million, compared to $582.2 million last year. Comparable store sales grew 12.1% over the first quarter of last year. Services sales for the first quarter were $37 million, up 38% compared with the first quarter of last year, an increase that continues to reflect the company’s focus and investment in growing pet services. (Business Wire) > Smithfield Foods Inc.’s earnings for the fourth quarter of fiscal 2002, ended April 28, fell to $24.9 million versus $48.5 million excluding unusual items a year ago. For fiscal year 2002, Smithfield reported record earnings of $195.7 million compared to $174.9 million prior to unusual items. Sales in the fourth quarter totaled $2 billion, 30% above the $1.5 billion in the same period last year. For the full year, sales were $7.4 billion, up 25% from $5.9 billion in fiscal year 2001. The increases were due to the sales of newly acquired companies and an improved product mix in the company’s value-added product categories. The company attributed
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June 7, 2002
Animal Health News & Notes for May 31, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 31, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company News Releases > Meow Mix cat food has been purchased from Nestle Purina by a group of private investors. The group purchased Meow Mix, as well as Nestle Purina’s Alley Cat brand cat food, on January 31 for an undisclosed sum. The sale of the brands was part of the agreement to spin off certain brands when Nestle acquired Ralston Purina. The new company plans to increase spending on advertising and promotion by 40%, including a revival of the 1970’s television ads using the Meow Mix jingle. (Pet Business) > Heska Corporation and Veterinary Pet Insurance (VPI) announced that VPI will now include Heska’s new E.R.D.-Screen Urine Test for renal function as part of VPI’s Vaccination & Routine Care Coverage. The Vaccination & Routine Care Coverage is a wellness plan that can be added to one of two major medical plans, the VPI Superior Plan and the VPI Standard Plan. (company press release) > Pet’s Choice, a veterinary medical group with 50 hospitals in the United States, is partnering with the College of Veterinary Medicine at Texas A&M University to provide the veterinary medical profession with a high-impact program that will address professional and leadership development for the veterinarian. The focus
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May 31, 2002
Animal Health News & Notes for May 24, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 24, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Patterson Dental Company reported consolidated sales of $44.5 million for its Webster Veterinary Supply subsidiary for the fourth quarter of fiscal 2002 ended April 27. Webster’s comparable basis sales increased approximately 12% from last year’s fourth quarter. For fiscal 2002, Webster’s sales totaled $134.8 million. Webster’s comparable basis sales increased approximately 9% in fiscal 2002. Webster’s comparable basis, year-over-year sales growth of approximately 12% does not include the impact of sales through distribution of ProHeart-6, which was introduced earlier in the year. Including ProHeart sales resulted in pro forma sales growth of 18% in the fourth quarter. (Business Wire) > Mars reported that subsidiary Royal Canin’s sales increased 12% in the first quarter of 2002 to reach 137.7 euros ($124.7 million). Almost 65% of sales are now “nutritional” products, encompassing the therapeutic and functional foods. (Animal Pharm) > PETCO Animal Supplies, Inc. reported strong sales and pro forma net earnings growth for its first quarter ended May 4, 2002. Net sales in the first quarter of 2002 were $349.2 million with a comparable store net sales increase of 9.3%. Overall, net sales increased 14.7% over the first quarter of fiscal 2001. First quarter 2002 represented the 37th consecutive
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May 24, 2002
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