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Animal Health News & Notes for June 30, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 30, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Alcide Corporation announced net sales and earnings for its fiscal year ended May 31, 2000. Fiscal year 2000 sales of $12.4 million were $1.2 million higher than fiscal 1999 sales. Sales of Sanova to the poultry industry totaled $3.9 million for the 12 month period, as this new Alcide business continued to expand rapidly. The net loss of $447,000reported for fiscal 1999 included a one-time $2.3 million charge to royalty expense to settle a lawsuit with royalty rights holders. (Business Wire) ***************************************************************** Company News Releases > The Federal Trade Commission has approved the $90 billion merger between Pfizer and Warner-Lambert. The deal is expected to make the new Pfizer the largest pharmaceutical company in the world. The FTC agreed to the merger after the companies consented to divest themselves of some businesses in four areas – treatments for depression, Alzheimer’s, cancer and lice. (AP) > Heska Corporation sold its Center Laboratories business to Alk-Abello’ (ALK), a part of the Chr. Hansen Group, based in Denmark. In addition, ALK has licensed certain of Heska’s intellectual property rights related to recombinant allergens for use in human allergy treatment. The purchase price for the business together with the up-front license fee
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June 30, 2000
Animal Health News & Notes for June 23, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 23, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Ag Services of America, Inc. reported revenues for the three months ending May 31, 2000 increased 17% to $155.8 million from $132.9 million during the comparable quarter last year. Net earnings increased 2% to $3.13 million compared to $3.08 million for the first quarter of fiscal 2001. (PRNewswire) ***************************************************************** Company News Releases > Pfizer Inc said the Federal Trade Commission (FTC) accepted a consent decree clearing the way for the company’s merger with Warner-Lambert. The merger was completed. (PRNewswire) > Synbiotics Corporation has retained two investment banking firms to advise the company on exploring strategic alternatives for enhancing shareholder value, which may include the sale of the Synbiotics Animal Health business. Synbiotics also said that its previously announced plans for creating a holding company and changing its name to W3 Inc. will be deferred, pending the outcome of this strategic initiative. (BW HealthWire) > Alpharma, Inc. has filed a Shelf Registration Statement with the Securities and Exchange Commission which, when effective, would permit the Company to sell up to $500 million in debt and equity securities in one or more public transactions. (PRNewswire) > Alpharma, Inc announced that its International Pharmaceutical Division (IPD) has taken an initial equity
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June 23, 2000
Animal Health News & Notes for June 16, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 16, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > H.J. Heinz Company reported fourth quarter sales in pet products of $306,997, an increase from $301,927 for the same period last year. For the fiscal year ending May 3, 2000 the pet product sales were $1.2 billion, down from $1.3 billion for the fiscal year ending April 28, 1999. (PRNewswire) > Paradigm Genetics, Inc. reported a net loss for the first quarter, ending March 31, 2000, of approximately $4.8 million compared to a net loss of approximately $2.0 million for the same period in 1999. Total revenues during the first quarter were $593,000 compared to $332,000 for the same period in 1999. > Polydex Pharmaceuticals Ltd. today reported first quarter sales of $3.4 million a 7% increase over last year. Sales for the same period in 1999 were $3.2 million. Net income for the first quarter 2000 was $189,601 as opposed to net income for the same period in 1999 of $365,641. (PRNewswire) > Innovative Medical Services announced their fiscal third quarter financials for the quarter ending April 30, 2000. The company posted revenues of $357,000 for the quarter compared to $1.2 million for the same quarter last year, a decrease of 69%. The company recorded a net
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June 16, 2000
Animal Health News & Notes for June 9, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 9, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Smithfield Foods, Inc. reported net income of $75.1 million for the fiscal year ending April 30, 2000, compared with net income of $94.9 million in fiscal 1999. Sales for the year were $5.2 billion, an increase of 36% over 1999. (PRNewswire) > Guyomarc’h, French animal nutrition group, reported first-quarter sales of $180.5 million this year, up 9.3% on the first quarter of 1999. The group’s sales for 1999 totaled Fr 3,845 million, down by 4.3%, but net income was Fr 84.2 million, up by 3.1% on 1998. This month Guyomarc’h purchased an 85% stake in the family-owned company UAR, which specializes in equine feed, for an undisclosed amount. (Animal Pharm) > Abic (Netanya) of Israel announced sales, excluding overseas activities, during 1999 reached $22.5 million, 20% higher than 1998. By product group, sales were greatest in its poultry biologicals line. (Animal Pharm) ***************************************************************** Company News Releases > Neogen Corporation acquired the assets of AmVet Pharmaceuticals of Yaphank, N.Y. The terms of the acquisition were $3.4 million in cash, plus incentives based on future revenues. Neogen plans to integrate all of AmVet’s assets into its Animal Safety Division in Lexington, KY. (PRNewswire) > Central Garden & Pet Company
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June 9, 2000
Animal Health News & Notes for June 2, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 2, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Biopure Corporation announced its financial results for the second fiscal quarter ended April 29, 2000. For the quarter, the company reported a net loss of $9.9 million, compared with a net loss of $8.4 million for the corresponding period in 1999. Total revenues were $710,000 for the second quarter of fiscal 2000, compared with $812,000 for the corresponding period in 1999. (PRNewswire) > International Absorbents Inc. reported a 24% increase in revenues and a 52% increase in profits for the quarter ended April 30, 2000. Revenues for the quarter rose to $2.2 million versus $1.8 million for the same period last year. Profits grew to $382,000, compared to $252,000, for last year’s first quarter. Gross margins for the first quarter increased to $982,000, or 45%. (PRNewswire) ***************************************************************** Company News Releases > IGI, Inc. announced it has signed a letter of intent to sell its Vineland Laboratories Division to Lohmann&Co., AG, of Cuxhaven, Germany. An increasing number of IGI’s new products are based on the patented Novasome® micro encapsulation technology. > PetsVetsandYou.com announced it sold out Phase I and has a waiting list for Phase II investors in its private placement offering. The seed money was raised exclusively
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June 2, 2000
Animal Health News & Notes for May 26, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 26, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Aventis Agriculture, which consolidates Aventis CropScience and Aventis Animal Nutrition, reported total sales of 1,207 million euro in the first quarter, a decline of 6.4 % compared with the first quarter of 1999. Sales by the animal health business Merial, a 50:50 joint venture with Merck & Co. Inc., are not included. (PRNewswire.com) > Synbiotics Corp. announced results for the first quarter ended March 31, 2000. Revenue for the first quarter was $9.2 million, compared with revenue of $9.5 million for the first quarter ended March 31, 1999. Net loss for the first quarter was ($834,000), compared with net income of $706,000 for the prior year quarter. The company stated they are transitioning from distribution to direct sales. (Business Wire) > PETsMART, Inc. announced financial results for its fiscal 2000 first quarter, the thirteen weeks ended April 30, 2000. The Company reported operating net income in the first quarter of 2000 of $3.1 million, excluding a non-operating loss from its equity investment in PETsMART.com. Net sales for the first quarter were $534.0 million, an increase of 4.1 percent over the $512.9 million reported for the same period last year. (Business Wire) > Oil-Dri Corporation of America announced sales
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May 26, 2000
Animal Health News & Notes for May 19, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 19, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > PETCO reported continued strong comparable store sales growth and gross profit margin improvement leading to record sales and net earnings for its first quarter ended April 29, 2000. Net sales for the first quarter increased 15% to a record $265.2 million from $229.7 million in the first quarter last year. Net earnings for the first quarter were $6.4 million, compared with $3.6 million in the prior year. (Business Wire) > Virbac Corporation, the US subsidiary of Virbac SA, announced record results for the first quarter ended March 31, 2000. For the three months ended March 31, 2000, net sales were $13.4 million compared with equivalent net sales of $12.9 million for the first quarter of 1999. Net income for the three months ended March 31, 2000, was $931,000, compared with a net loss of $118,000, for the year-earlier period. (BW HealthWire) > PetQuarters.com announced the financial results for the third quarter ending March 31, 2000. Net sales for the quarter were $3.7 million, representing an increase of $3.6 million from the third quarter of 1999. The Company’s gross margin was a positive 28% for the quarter. Net losses increased by $3.3 million from the prior year period, which
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May 19, 2000
Animal Health News & Notes for May 12, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 12, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Novartis announced that animal health sales increased 19% to CHF 251 million ($151 million) in the first quarter of 2000. Animal health sales were greater than that of the company as a whole, and the company expects further sales increases this year. The sales increase was attributed to an increase in the European and Latin American farm animal sectors, as well as the contribution of Vericore, acquired in 1999. (Animal Pharm) ***************************************************************** Company News Releases > Pfizer Animal Health has created the Revolution Mobile, a 25-foot-long, seven-ton vehicle displaying a larger-than-life dog and cat that will roam the country as part of Revolution Pet Trek 2000, a cross-country tour designed to educate pet owners about the importance of protecting their pets against parasites. Between May and November 2000, the Revolution Mobile will visit more than 20 dog- and cat-related events across the United States, including dog and cat shows, Humane Society events, community celebrations, veterinary gatherings and more. (PRNewswire) > Novartis announced its intent to acquire the remaining interest in Cobequid Life Sciences. An affiliate of Novartis Animal Health already owns approximately 40% of the outstanding common shares of Cobequid. The offer will be made at C$4 per
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May 12, 2000
Animal Health News & Notes for May 5, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 5, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Bayer AG reported that first quarter 2000 sales for the agriculture business segment had a good quarter, with sales up 17% to € 1.025 billion ($985 million). The Crop Protection and Animal Health business groups contributed equally to this growth. The Animal Health Business Group scored further market success with its flagship product Advantage. (company website) > Aventis reported that first quarter 2000 sales of Aventis Animal Nutrition achieved a significant volume increase during the first quarter. However, its sales declined 3% to € 138 million ($133 million) due to price weakness. Prices, which dropped significantly in the second half of 1999, are now stabilizing and even recovering for methionine. (PRNewswire) > Aventis did not report Merial first quarter 2000 sales, but avermectin sales were € 104 million ($100 million), essentially flat compared to the first quarter 1999. Animal health fipronil sales were € 69 million ($66 million), an increase of 50% over the same quarter in 1999. (PRNewswire) > Central Garden & Pet Company announced financial results for the fiscal second quarter ended March 25, 2000. Net sales for the fiscal second quarter were $382.9 million, compared with $447.1 million in the comparable 1999 period. The decrease
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May 5, 2000
Animal Health News & Notes for April 28, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 28, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Heska Corporation reported its financial results for the first quarter ended March 31, 2000. Total revenues increased 30% to $14.4 million for the quarter compared to $11.1 million for the first quarter of 1999. Net loss for the first quarter of 2000 was $5.9 million compared with a loss of $7.9 million for the first quarter of 1999. During the first quarter of 2000, Heska recorded a restructuring charge of $435,000 related to the rationalization of its Diamond Animal Health subsidiary. Also during the first quarter, the Company completed the previously announced sale of its United Kingdom diagnostic laboratory business, which was no longer deemed strategic to the Company’s future operations. (PRNewswire) > Destron Fearing Corporation reported that it achieved strong earnings on record second quarter sales results. Net sales for the quarter ended March 31, 2000, increased 21% to $6.6 million from the previous second-quarter record of $5.4 million set last year. Net income was $1.4 million compared with last year’s second quarter net income of $1.1 million before an extraordinary gain. (PRNewswire) > Veterinary Centers of America Inc. reported financial results for the first quarter ended March 31, 2000. During the current quarter of 2000, the
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April 28, 2000
Animal Health News & Notes for April 20, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 20, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Eli Lilly reported that worldwide sales of animal health products for Elanco in the first quarter of 2000 were $155.4 million, an increase of 6% when compared with the first quarter of 1999. Excluding the effect of exchange rates, sales grew by 8% for the quarter. (PRNewswire) > Pfizer reported that first quarter 2000 sales of companion-animal products rose by 31%, driven by sales of Revolution and Rimadyl. However, sales of the Animal Health Group as a whole were down 6% to $268 million for the quarter due to a weak livestock market in the U.S. and Europe, as well as by the decision of the European Commission to ban certain antibiotic feed additives, including virginiamycin, in the European Union after June 30, 1999. (PRNewswire) > Schering-Plough reported that worldwide sales of animal health products in the first quarter of 2000 totaled $158 million, up 3% over the previous year (6% when foreign exchange is excluded). (PRNewswire) > Colgate reported that unit volume and sales both grew 9% at Hill’s for the first quarter 2000. New products and enriched marketing programs produced excellent growth throughout North America and internationally. Strong sales of Science Diet Hairball Control formula for
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April 20, 2000
Animal Health News & Notes for April 7, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 7, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Doane Pet Care Company reported net income of $9.5 million for its fourth quarter ended January 1, 2000 on net sales of $205.1 million and net income of $21.4 million for the fiscal year ended January 1, 2000 on net sales of $770.6 million. The Company stated that results for the 1999 fiscal year were not comparable to the reported results for 1998 due to its 1998 acquisitions of Ipes Iberica, S.A. in April 1998 and Windy Hill Pet Food Company, Inc. in August 1998 and its related refinancing on November 12, 1998. (PRNewswire) **************************************************************** Company News Releases > Ralston Purina Company completed the tax-free spin-off of Energizer Holdings, Inc. on April 1 and now is focused exclusively on its global pet products business. Ralston had pet products sales of $2.72 billion in fiscal year 1999. (PRNewswire) > Pharmacia Corporation, formed through the merger of Monsanto Company and Pharmacia & Upjohn, officially began trading as a public company on Monday, April 3, with its listing on the New York Stock Exchange. The new company will trade under the stock ticker symbol “PHA” both in New York and on the Stockholm Stock Exchange. (PRNewswire) > Heska Corporation announced that
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Animal Health News & Notes for April 14, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 14, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > IDEXX Laboratories, Inc. reported net income of $8.0 million for the quarter ended March 31, 2000, compared to net income of $7.3 million for the same period in the prior year. Revenues for the first quarter increased to $90.9 million from $89.6 million for the first quarter of 1999. According to David E. Shaw, Chairman and CEO, revenues in the first quarter were relatively flat, due largely to lower sales of veterinary practice management systems and the disposition of the food microbiology testing business; practice management system sales were exceptionally high in 1999 due to Y2K-related purchases. (BW HealthWire) > IGI, Inc. reported results for the year ended December 31, 1999. Revenues for 1999 were $34.6 million versus $33.2 million for 1998, an increase of 4%. Net loss was ($1.6 million) compared with a loss of ($3.0 million) for the corresponding period of 1998. Companion Pet Product sales increased 9% compared to 1998, while Poultry Vaccine sales decreased 5% compared with 1998. (PRNewswire) > Synbiotics Corp. announced that its one-time licensing fee of $1.5 million related to the amendment of a supply agreement with Merial Limited in exchange for giving Merial broadened U.S. distribution rights would be recorded
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April 14, 2000
Animal Health News & Notes for March 31, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 31, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > **************************************************************** Company News Releases > Monsanto Company and Pharmacia & Upjohn announced that the European Commission has cleared the planned merger of the two companies. Based on the European approval, the companies confirmed plans to close the merger on Friday and to begin trading as Pharmacia Corporation on Monday. In relation to the European Commission ruling, the two companies have agreed to divest a few immediate-release analgesic products marketed by Pharmacia & Upjohn in Sweden. Sales of these products are not significant and are immaterial to the overall transaction. Pharmacia Corporation’s corporate and pharmaceutical business headquarters will be in Peapack, N.J. The agricultural business headquarters will be in St. Louis and will retain the Monsanto name. (PRNewswire) > Heska Corporation announced that it has entered into an option agreement with Pharmacia Diagnostics, a subsidiary of Pharmacia Corporation. Under the agreement, Pharmacia Diagnostics will evaluate the use of Heska’s recombinant allergen technology for use in their allergy diagnostic systems for humans. During the option period, Pharmacia Diagnostics has an exclusive right to license the technology for instrument-based human diagnostics. Financial terms of the agreement were not disclosed. Pharmacia Corporation is the global leader in allergy diagnostics. (PRNewswire) > Doane
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March 31, 2000
Animal Health News & Notes for March 24, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 24, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Aventis reported 1999 sales for Merial were 1.6 billion euros ($1,610 million), down 1% from 1998 sales. Sales of Frontline increased 9.6% to 296 million euros ($297 million), while avermectin sales declined 4.4% to 530 million euros ($533 million). (company website) Neogen Corporation announced the highest revenues for any quarter in the Company’s 18-year history. Neogen reported third quarter revenues of $6.275 million, an 18% jump from the previous year’s $5.29 million. Year-to-date, revenues for fiscal year 2000 stood at $17.0 million at the end of the third quarter, as compared to $16.9 million at the same time last year. Neogen’s third quarter net income was $627,000 as compared to the prior year’s $589,000. Not including revenues from Acumedia, which was acquired by Neogen in the third quarter, revenues from the Company’s Food Safety Division increased by more than 23% in the quarter as compared to last year, and its Animal Safety Division saw an increase of 13%. (PRNewswire) Alcide Corporation announced net sales and earnings for its fiscal third quarter ended Feb. 29, 2000. Net sales of $2.9 million for the quarter were 26% higher than for the equivalent quarter a year ago. Nine month sales of $8.5
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March 24, 2000
Animal Health News & Notes for March 17, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 17, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Bayer AG reported sales of its animal health group were 917 million euros ($920 million), up 3.5% over the prior year’s revenues of 886 million euros. Growth was attributed to the companion animal sector, which was reported to represent almost half of the animal health group’s sales. (Bayer annual report) Synbiotics Corp. reported results for the year ended Dec. 31, 1999. Revenue for the year ended Dec. 31, 1999 was $32.0 million, compared with revenue of $31.7 million for the prior year. Net loss for the year was ($749,000), compared with a net loss of ($1,911,000) for the prior year. Direct sales in the U.S. continue grew by 40% in the fourth quarter as a result of an expanding sales force, telesales team, and industry leadership on the Internet. (BW HealthWire) **************************************************************** Company News Releases Heska Corporation announced that it has received USDA approval to manufacture and market its new canine heartworm diagnostic product, Solo Step CH Batch Test Strips. The Company plans to make the product available to veterinarians in approximately two weeks. (PRNewswire) Monsanto Co. and Pharmacia & Upjohn Inc. expect to close their proposed $27 billion merger ahead of schedule. In a joint press release Wednesday,
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March 17, 2000
Animal Health News & Notes for March 10, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 10, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Degussa-Huls reported that for their shortened financial year of October – December 1999, the feed additives division continued to suffer from strong price pressure and reported a considerable drop in earnings. (company website) Veterinary Pet Insurance reported year-end 1999 revenues of $24.8 million, an increase of 60% over 1998 revenues of $15.5 million. The company is forecasting revenues of $100 million by the year 2003. The company also reported a 68% increase in policy renewals. Revenue growth has in part been driven by corporations offering pet insurance as an employee benefit, with over 100 corporations and veterinary clinics participating in VPI’s employee benefits program. (Veterinary Practice News) Heinz reported financial results for the nine months ended January 26, 2000. Pet Products sales were $931 million, down 5.5% from the comparable period in 1999. Lower sales were primarily attributed to lower pricing on pet food as a result of the company’s decision to refocus its marketing to achieve more competitive price points on the shelf. (PRNewsWire) Embrex, Inc. announced record revenues and earnings for the year ended December 31, 1999. Fiscal year revenues increased $5.1 million, or 18%, to $33.8 million for the year ended December 31, 1999 from revenues
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March 10, 2000
Animal Health News & Notes for March 3, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 3, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Purina Mills, Inc. reported preliminary unaudited summary financial results for the fourth quarter and year ended December 31, 1999. Purina generated approximately $53.1 million of earnings before interest, taxes, depreciation and amortization expense, and restructuring costs (EBITDAR) during 1999 on feed sales volume of over 4.3 million tons. During 1998, the Company reported approximately $67.8 million of EBITDAR and 4.6 million tons. Although Purina’s results for the year were down, the Company reported results for the fourth quarter ended December 31, 1999, were up significantly versus fourth quarter results in 1998. As previously disclosed, Purina is making significant progress in moving through its Chapter 11 restructuring. (PRNewswire) PETsMART, Inc. announced that for the year ended January 30, 2000, consolidated net sales were $2.1 billion and were unchanged from the $2.1 billion reported in 1998. The 1999 results exclude sales from the UK Pet City subsidiary, which was sold in December 1999, and represented $0.2 billion in 1998. Comparable store sales for the Company’s North American stores increased 4.6% for the fiscal year ended 1999. The Company reported consolidated net income of $37.5 million, excluding losses from PETsMART.com of $29.1 million and $45.6 million from the disposal of the Company’s
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March 3, 2000
Animal Health News & Notes for February 25, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 25, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Veterinary Centers of America Inc. (VCA) reported financial results for the year ended December 31, 1999. For the year ended December 31, 1999, revenues increased 14% to a record $320.6 million from $281.0 million in 1998. Animal hospital revenues were $223 million and laboratory revenues were $103 million, with $5.8 million in eliminations. Operating income for the year was $47.0 million, up from $38.8 million in 1998. (Business Wire) Akzo Nobel reported that in animal healthcare, Intervet sustained its high profitability level with continued growth in sales and income, while the November 1999 acquisition of Hoechst Roussel Vet contributed to the results from November. Intervet sales for 1999 were reported as EUR 515 million ($517 million), an increase of 45% over 1998 sales of EUR 355. Exact contribution of Hoechst Roussel Vet to sales was not specified. **************************************************************** Company News Releases Feedstuffs has learned that the Monsanto animal health business and Monsanto’s DeKalb Swine genetics business will be left in Monsanto Agriculture. The dairy and swine businesses are currently organized under the Monsanto animal agriculture umbrella, which is tied to the Monsanto agriculture chemicals and seeds units. Many industry observers expected the merger would combine Monsanto’s dairy products with
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February 25, 2000
Animal Health News & Notes for February 21, 2000 – Special Edition
SPECIAL EDITION Brakke Consulting’s Animal Health News & Notes for February 21, 2000 Copyright © Brakke Consulting, Inc. (note: the regular edition of Brakke Consulting Animal Health News & Notes will be published on February 25.) Company News Releases • Merck and Aventis, joint parent companies of Merial, announced that effective February 21, 2000, Alan Reade will assume the position of executive chairman of Merial. The announcement was made on February 18, 2000. Reade was formerly the president and CEO of Rhone-Poulenc Agro for North American Operations, and is currently the leader of the Aventis CropScience post-merger integration process. In order to ensure a smooth transition John Preston, the previous executive chairman of Merial, and Louis Champel, the previous CEO, will serve as consultants to Merial and Alan Reade for a limited period of time. ********************************************************************* Brakke Consulting Viewpoint Merck and Rhone Poulenc announced last week that they have completed the first phase of the Merial organization that was developed with the forming of Merial in 1997. A press release was made by Merial in London on February 18, 2000 indicating that Alan Reade would become the Executive Chairman of Merial effective February 21, 2000. The release further indicates that Dr. Preston and Mr. Champel will serve as consultants to Merial and Mr. Reade for a limited period of time. The
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February 21, 2000
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