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Animal Health News & Notes for February 18, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 18, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Novartis announced 1999 year-end results for animal health were CHF 927 million ($580 million), an increase of 3% from sales of CHF 901 million in 1998. Sales expanded in the Asia/Pacific region and the company defended its position in the competitive flea control market for pets, particularly in the US and in Europe. Interceptor and Sentinel were the brands driving growth. In contrast, the strong price pressure for commodities affected the farm animal market in the Americas and Europe. Econor, a new veterinary treatment for intestinal and respiratory diseases in farm animals, made good progress with introductions in 21 countries. The new fast-acting flea treatment Capstar was successfully launched in four countries. (PRNewswire) **************************************************************** Company News Releases Pharmacia & Upjohn has acquired from New Zealand-based InterAg the worldwide marketing rights to the CIDR intravaginal insert for estrus management. The progesterone-releasing insert approved in a number of animal species has been marketed by InterAg since the mid-1980’s and is already approved in more than 30 countries. An investigational new animal drug application has been filed with the FDA. (Animal Pharm) Destron Fearing Corporation announced that it has entered into a three-year agreement with Triumph Pork Group LLC. The agreement makes
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February 18, 2000
Animal Health News & Notes for February 11, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 11, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases IBP Inc., the nation’s largest red meatpacker, posted record earnings in 1999, citing increased consumer demand for beef and pork, ample supplies of hogs and cattle, and growth in the prepared foods business. IBP reported showed net earnings of $313 million for the year ending Dec. 25, a 65% increase from 1998 net earnings. Sales in 1999 totaled $14.1 billion, 10% higher than 1998. (Des Moines Register) **************************************************************** Company News Releases Pfizer announced it is acquiring Warner-Lambert Co. for $90 billion in stock, in a deal that will create the world’s second-largest pharmaceutical company. The deal will mark the end of a takeover battle that started in November when Warner-Lambert announced a $58.3 billion merger with its New Jersey neighbor American Home Products Corp. American Home Products will be paid $1.8 billion – the largest breakup fee in history – to sever its contract with Warner-Lambert. (AP) Alpharma has reported that it plans to sell 2 million shares of Class A common stock. At 2/4/00 closing price of $32-13/16, the estimated cash flow would be around $65.5 million. (Feedstuffs) Neogen Corporation announced that its Board of Directors has increased its authorization for Company common stock repurchase from the previously
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February 11, 2000
Animal Health News & Notes for February 4, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 4, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Schering-Plough reported that worldwide sales of animal health products in 1999 totaled $678 million, up 5% over 1998 (6% when foreign exchange is excluded). Fourth quarter 1999 sales of animal health products were up 12% to $192 million (15% when foreign exchange is excluded), reflecting gains for Nuflor (florfenicol), a broad-spectrum, multi-species antibiotic. (PRNewswire) Aventis reported that sales of Aventis Animal Nutrition (formerly Rhone Poulenc Animal Nutrition) declined 8.2% to euro 551 million ($553 million) due to significant overcapacity and resulting price weakness in the methionine and vitamin businesses. Sales for Merial were not reported, but Frontline sales increased 9.6% to euro 296 million ($297 million), while avermectin sales declined 4.4% to euro 530 million ($532 million). (PRNewswire) Heska reported total revenues for the year ended December 31, 1999, increased 29%, to $51.2 million compared to $39.8 million for the prior year. The growth in revenues during 1999 was primarily due to increased sales of new products introduced by the Company during 1999. Net loss for the year ended December 31, 1999 was $35.8 million, compared with a loss of $44.3 million for the prior year. Fourth quarter 1999 revenues increased 11%, to $14.2 million compared to $12.8 million
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February 4, 2000
Animal Health News & Notes for January 28, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 28, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Elanco reported that worldwide sales of animal health products in the fourth quarter 1999 were $192.4 million, an increase of 3% when compared with the fourth quarter of 1998. For the full year of 1999, animal health sales increased 2%, to $627.8 million. Sales growth was led by Micotil and Surmax. In December, Paylean, a new swine feed ingredient, received approval from the FDA’s Center for Veterinary Medicine (CVM). Paylean directs nutrients to increase the amount of quality meat in high-value cuts and improves production efficiencies. (PRNewswire) Ralston Purina Company announced first quarter earnings before unusual items of $189.9 million, compared to $131.9 million in the prior year. First quarter sales were $1.4 billion, compared to $1.3 billion in the prior year first quarter, an increase of 9%. Sales for North American Pet Foods increased 7% in the quarter on higher volumes. International Pet Foods’ sales increased 2% in the quarter. Sales for Golden Products increased 20% in the quarter due to significant volume increases in scooping litter as well as increased conventional litter volumes, which resulted in market share improvements in both categories. (PRNewswire) IDEXX Laboratories, Inc. reported revenues for 1999 increased 11% to $356 million from $320
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January 28, 2000
Animal Health News & Notes for January 21, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 21, 2000 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases Pfizer reported that 1999 year-end sales for the Animal Health Group were $1,345 million, a 2% increase over 1998. 4th quarter 1999 sales of Animal Health increased by 8% to $417 million. Exceptional sales performances of companion-animal products were led by the launch of Revolution, approved in the U.S. in July. Sales of Rimadyl continue to show strong growth. Partially offsetting the strong performance of the companion-animal business was continuing weakness in the livestock market in the U.S. and Europe. Sales of virginiamycin, an antibiotic for poultry, cattle and swine, were adversely affected by the decision of the European Commission to ban certain antibiotic feed additives, including virginiamycin, in the European Union after June 30, 1999. (PRNewswire) ABAXIS, Inc. reported results for its third fiscal quarter ended 12/31/99. Revenues increased 109% to $6.5 million compared with revenues of $3.1 million for the same quarter last year. The Company reported a net income of $172,000, making this its first profitable quarter. (PRNewswire) **************************************************************** Company News Releases Synbiotics Corp. announced that it has defeated an attempt by HESKA to dismiss their patent infringement lawsuit. On Jan. 11, 2000 the United States District Court Southern District of California issued an order denying
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January 21, 2000
Animal Health News & Notes for January 14, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 14, 2000 **************************************************************** Company Earnings Releases Destron Fearing reported record first quarter sales and profits for the quarter ended 12/31/99. Net sales increased 3% to $4.2 million. Net income was $552,000, compared to the previous first quarter of $239,000. **************************************************************** Company News Releases Warner Lambert reversed course and said it would hold merger talks with Pfizer. The decision came two months after Warner-Lambert agreed to be acquired by American Home Products. Warner-Lambert’s board said that “in light of changing circumstances” it had concluded Pfizer’s offer “is better financially for Warner-Lambert shareholders than the proposed merger with American Home Products.” Either combination would create the world’s largest drugmaker. Investors had pressured Warner-Lambert executives to re-evaluate its decision to unite with American Home Product, especially in light of the rising value of Pfizer’s offer. Pfizer’s offer is now worth about $75 billion. American Home’s bid is valued at less than $51 billion. The difference between the offers has widened in recent weeks due to Pfizer’s rising stock price and American Home’s falling stock price. Synbiotics Corp. announced that it has acquired W3Commerce LLC, a privately-held, San Diego-based Internet systems and services provider. W3Commerce specializes in information and e-commerce networks that develop direct channels for manufacturers to supply retail and business consumers. Emphasizing
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January 14, 2000
Animal Health News & Notes for January 7, 2000
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 7, 2000 **************************************************************** Company Earnings Releases Central Garden & Pet Company announced that it expects to report a loss of between $0.29 and $0.39 per share for the fiscal first quarter of 2000, ended December 25, 1999. The Company typically reports a first quarter loss. The Company said results reflect lower distribution sales related to the previously announced expiration of the Solaris Alliance, a seasonal shift in garden product sales, increased interest costs and a lower share count resulting from Central’s share repurchase program, and a timing difference in sales of methoprene, the active ingredient in certain pet products, among other factors. Smithfield Foods Inc said it expected to post lower profits in fiscal third quarter because of recent flooding in North Carolina and weaker profit margins for fresh pork compared with the year earlier. Analysts polled by First Call/Thomson Financial had expected Smithfield to post earnings of $1.03 per share in the period, compared with a profit of $1.31 per share in the same year-ago quarter. **************************************************************** Company News Releases The Iams Company announced plans to expand availability of its Iams Dog and Cat Foods in North America. The expansion will focus on retail sales channels where parent company Procter & Gamble sells its products, such as grocery stores,
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January 7, 2000
Animal Health News & Notes for December 30, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for December 30, 1999 **************************************************************** Company News Releases Heska Corporation announced that it has signed a letter of intent to sell its United Kingdom subsidiary, Heska UK Limited, formerly Bloxham Laboratories. Heska UK is a veterinary diagnostic laboratory that also provides veterinary allergy products and services to veterinarians and sells Heska’s diagnostic and monitoring instruments in the U.K. The letter of intent provides for Heska to retain its veterinary allergy business in the U.K. Heska plans to continue marketing its allergy-related products and services directly in the U.K. and to sell its veterinary medical instrumentation in the U.K. through an independent distributor network. Heska also announced that its allergy extract and treatment set manufacturing subsidiary, Center Laboratories in Port Washington, New York, is under strategic review. PETsMART.com is introducing the first comprehensive online Pet Food Calculator. Visitors to http://www.petsmart.com will be able to enter their dog’s or cat’s information into an interactive system and receive advice on the foods that address the specific fitness and health needs of their pet. By entering variables such as the age, weight, activity level and life stage of their dog or cat into the PETsMART.com Pet Calculator, pet owners will be able to find out all the foods fit for their pet’s individual needs, the amount
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December 30, 1999
Animal Health News & Notes for December 23, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for December 23, 1999 Company earnings releases Neogen Corporation reported that its second quarter earnings did not match the Company’s excellent performance in the second quarter of its previous fiscal year. Neogen reported second quarter earnings of $338,000 as compared to the prior year’s second quarter of $666,000. The Company reported that earnings were down as a result of reduced sales in the quarter. Neogen recorded sales of $5.4 million in the second quarter, as compared to $5.9 million in the previous year. Alcide Corporation announced net sales and earnings for its fiscal second quarter and first half, which ended November 30, 1999. Net sales of $3.0 million for the quarter ending November 30, 1999 were 11% higher than for the equivalent quarter a year ago. First half sales of $5.6 million were $815,000 lower than first half sales last year, which included a non-recurring contractual minimum payment of $1.1 million from the Company’s former distributor, Novus International, Inc. Sales of Sanova to the poultry industry totaled $846,000 for the second quarter and $1.3 million for the first half. **************************************************************** Holiday Notes from Brakke Consulting Let me add my voice to the chorus of holiday well-wishers. 1999 has been a very fulfilling year for me professionally. My sincere thanks to our clients
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December 23, 1999
Animal Health News & Notes for December 21, 1999 – Special Edition
**************************************************************** SPECIAL EDITION Brakke Consulting’s Animal Health News & Notes for December 21, 1999 (note: the regular edition of the Brakke Consulting Animal Health News & Notes will be published on December 23.) Company News Releases Monsanto Co. and Pharmacia & Upjohn signed a merger agreement Sunday, creating the world’s 11th largest drug. The combined company, as yet unnamed, will have sales this year of $17 billion and 60,000 employees. The new company’s pharmaceutical business will be headquartered in Peapack, N.J., where Pharmacia is based, and the agricultural-chemical business will be headquartered in Monsanto’s hometown of St. Louis. Tentative plans are to sell 19% of the agriculture business in an initial public stock offering next year. The agricultural business will become a separate legal entity, with a stand-alone board of directors and its own publicly-traded stock upon completion of the intended IPO. **************************************************************** Brakke Consulting Viewpoint The announced merger of Pharmacia & Upjohn and Monsanto is such a big news story in animal health, we decided to send a special edition of our newsletter instead of waiting until Thursday to discuss it. If in the merger the Pharmacia & Upjohn Animal Health and Monsanto Dairy Business are combined into a single subsidiary, total sales will be in the range of $660 million for 1999. This would move the new company
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December 21, 1999
Animal Health News & Notes for December 17, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for December 17, 1999 Company earnings releases 4th quarter earnings for Degussa’s feed additives’ division were significantly lower. Degussa reported that, although volumes continued to rise, there was strong downward pressure on prices. Dainippon Pharmaceutical Co reported its financial results for the first half of fiscal 1999 ended September 30. Net sales of animal health products increased by 6.7% to ¥10.6 billion [$101 million] from ¥9.9 billion in the same period last year. Central Garden & Pet Company announced its financial results for the full year ended September 25, 1999. Full year net sales increased 19% to $1.5 billion from $1.3 billion in fiscal 1998. Central reported net income for fiscal 1999 of $24.5 million compared with $33.7 million in fiscal 1998. Company News Releases American Home Products’ Chairman, President and CEO, John R. Stafford, said that “AHP is fully committed to the completion of the merger-of-equals business combination with Warner-Lambert Company that we announced on November 4, 1999. The friendly merger with Warner-Lambert will create enormous near and long-term value for our shareholders. Regardless of rumors reported by the press, I can assure you that we are not and have not been in discussions either formally or informally with Pharmacia & Upjohn regarding an alternative business combination.” The Wall Street Journal
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December 17, 1999
Animal Health News & Notes for December 10, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for December 10, 1999 Company earnings releases Cobequid Life Sciences announced record revenues for the year ended August 30, 1999 of $7.1 million and net profit of $1.07 million. These results mark the third consecutive year of significantly increased profits underlining several key factors, including the company’s successful approach to business development. H. J. Heinz Company reported that second quarter Fiscal 2000 net income increased $14.6 million to $234.8 million. Sales for the quarter increased $21.7 million or 0.9%. Asked if the pet food division was on the block, Chief Financial Officer Paul Renne said, “It’s not. Right now we’re trying hard to fix it and our goal is getting it back into good shape.” The pet food division has been a drag on earnings for about a year as it struggles with disappointing sales trends. Company News Releases Pharmacia & Upjohn announced that it has appointed Stephen P. MacMillan as Sector Vice President, Global Specialty Operations to lead a newly created business unit consisting of the company’s Consumer Healthcare, Animal Health, Diagnostics, Pharmaceutical Commercial Services and Plasma operations. American Home Products Corp. has approached advisors to Pharmacia & Upjohn Co., suggesting a takeover if American Home’s merger with Warner-Lambert fails, the London-based Financial Times reported in its Friday editions. American
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December 10, 1999
Animal Health News & Notes for December 3, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for December 3, 1999 Company earnings releases PETCO Animal Supplies, Inc. reported that continued strong comparable store sales growth and gross profit margin improvement led to record sales and net earnings for its third quarter and nine month period ended October 30, 1999. Net sales for the third quarter increased 22% to a record $249.0 million from $204.8 million in the third quarter last year. During the third quarter, comparable store sales rose 13.2%, the largest increase reported in the premium pet food and supplies sector in the past three years. For the nine months (39 weeks) ended October 30, 1999, net sales increased 19% to a record $714.8 million from $598.4 million in the same period last year. Comparable store sales increased 12.1% for the nine month period. Company News Releases Novartis Group has acquired Vericore Holding limited, a UK based Animal Health company which holds 5.26 million shares or 40% of the issued shares in Cobequid Life Sciences. Cobequid Life Science divisions include the Aqua Health Group of Companies (AHL) and Progressive Genetics Systems (ProGeneSys). The Aqua Health Group’s principal business is the research, development, production and marketing of health care technologies to aid in the prevention and control of diseases in the global aquaculture industry. ProGeneSys manufactures DNA vaccines,
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December 3, 1999
Animal Health News & Notes for November 24, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for November 24, 1999 Company earnings releases PETsMART, Inc. announced the unaudited financial results for its fiscal 1999 third quarter and thirty-nine weeks ended October 31, 1999. Net sales for the 1999 third quarter were $564.7 million, an increase of 8.4 % over the third quarter last year. The Company reported net income of $2.9 million for third quarter 1999, excluding $9.9 million equity in the loss of PETsMART.com, and related income tax effects. This compares to net income for third quarter 1998 of $5.3 million. At October 31, 1999, the Company operated 484 stores in North America and 93 stores in the United Kingdom. Smithfield Foods, Inc. reported record second quarter earnings for fiscal 2000. Net income in the quarter ended October 31, 1999 increased to $22.2 million from $18.5 million in the record second quarter a year ago. Net income in the first six months of fiscal 2000 increased 122% to $29.1 million from net income of $13.2 million in the six month period a year ago. Sales for the second quarter of fiscal 2000 were $1.2 billion, up from $874 million in the same quarter of fiscal 1999. Sales for the first six months of fiscal 2000 were $2.4 billion, compared to $1.7 billion in the same six-month period
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November 24, 1999
Animal Health News & Notes for November 19, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for November 19, 1999 Company earnings releases Synbiotics Corp. announced revenues of $6.0 million for the third quarter ended Sept. 30, 1999; a decrease of 12% from the comparable prior year quarter. Net loss for the quarter ended Sept. 30, 1999 was ($1,167,000), compared to a loss of ($743,000) for the prior year quarter. Revenue for the nine months ended Sept. 30, 1999 was $25.2 million, compared with $24.7 million in the prior year nine-month period. IGI, Inc. reported a third quarter net loss of $334,000 for the quarter ended September 30, 1999. This compared to a net loss of $668,000 for the corresponding period in 1998. Revenues for the quarter ended September 30, 1999 were $8.8 million, an increase of 7% over the quarter ended September 30, 1998. Revenues for nine months ended September 30, 1999 were $26.4 million, which was 9% greater than the corresponding nine-month period of 1998. PetMedExpress.com, Inc. announced net sales of $4.2 million for the quarter ended September 30, 1999, up 44% over last year’s second quarter net sales. The net loss for the period was $161,079, compared to last year’s net income of $459,105. Last year’s net income reflects the utilization of a net operating loss carry forward which resulted in a zero tax provision.
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November 19, 1999
Animal Health News & Notes for November 12, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for November 12, 1999 Company earnings releases Embrex, Inc. announced revenue for the quarter ended 9/30/99 of $8.2 million compared with $7.4 million for the quarter ended 9/30/98, reflecting an 11% increase that was primarily attributable to strong INOVOJECT system revenue in North America. Net income for the quarter increased 106% to $1,552,000, compared with $753,000 in the same period last year. Destron Fearing reported net sales for the 4th quarter ended 9/30/99 of $3.8 million, a 51% increase from $2.5 million in 1998. Net sales for fiscal 1999 increased 47% to $18.5 million. Net income for fiscal 1999 was $3.5 million, compared to a net loss of $2.0 million in 1998. Company News Releases American Home Products Corporation said that it remains fully committed to its announced strategic business combination with Warner-Lambert and that it intends to complete the transaction pursuant to the terms of its agreements. Pfizer Inc. Chairman William Steere said the drug maker may drop the conditions it attached to its $74.6 billion hostile bid for Warner-Lambert Co., a move that could ease Wall Street’s concerns and bolster Pfizer’s chances of success. Pfizer’s bid for Warner-Lambert now hinges on reversing antitakeover provisions in the friendly, $67.3 billion merger deal between Warner-Lambert and American Home Products Corp. Those provisions
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November 12, 1999
Animal Health News & Notes for November 5, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for November 5, 1999 Company earnings releases In plant & animal health, Rhone-Poulenc recorded net sales of 494 million euros ($532 million) in the third quarter 1999, down 15.6% excluding the impact of exchange rates. Income from operations in plant & animal health were 94 million euros ($101 million), down 29.5%, a result of the decline in operating income. Earnings benefited however from a significant contribution from Merial, which recorded good sales of the anti-parasitic, Frontline. Virbac SA announced 9-months 1999 sales of $220 million (FF1,330 million), up 25% over the same period in 1998. Virbac Corporation, the US subsidiary of Virbac SA, announced 3rd quarter sales of $12.9 million, up 4% over 1998. For the nine months ended 9/30/99, sales were $35 million, up 7.7% over 1998. Hoffmann La Roche announced 9-months 1999 sales of feed additives were $950 million (CHF 1,456 million). Feed additives accounted for 56% of the sales for the vitamin and fine chemicals division, up from 50% in 1998. Ralston Purina announced fourth quarter 1999 for the fiscal year ended September 30, 1999 sales were $1.2 billion compared to $1.15 billion in the prior year fourth quarter. Earnings from continuing operations before unusual items were $113 million compared to $98 million in the prior year. Sales for
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November 5, 1999
Animal Health News & Notes for October 29, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for October 29, 1999 Company earnings releases Veterinary Corporation of America (VCA) announced revenues in the third quarter of 1999 increased 12% to a record $84 million, from $75million in the third quarter last year. For the nine months ended Sept. 30, 1999, revenues increased 15% to a record $244 million from $211 million for the nine months ended Sept. 30, 1998. Intervet reported excellent results for the third quarter 1999. No further details were given in the press release. Company News Releases Novartis Animal Health, the best-performing sector of its agribusiness division, looks to be exempt from the organizational changes planned for the crop protection and seed businesses. The company’s animal health division was also exempt frm an angribusiness streamlining program involving 1,100 job losses, which began earlier in the year. Fort Dodge announced that Bursamune® in ovo, an infectious bursal disease (IBD) vaccine, has received temporary authorization of utilization from the National Agency for Veterinary Medicament of Fougeres for in ovo administration to broiler chickens. Such temporary authorizations (ATU) have been used for the initial registration of a number of new products in France in recent years. Embrex will supply Fort Dodge with the Viral Neutralizing Factor (VNF®) necessary to manufacture the complex under an agreement between the two companies.
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October 29, 1999
Animal Health News & Notes for October 22, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for October 22, 1999 Company earnings releases Pfizer reported that animal health sales increased by 5% to $336 million for the quarter. Solid sales performances of companion-animal products were led by the excellent launch of Revolution and Rimadyl. Partially offsetting the strong performance of the companion-animal business was continuing weakness in the livestock market in the U.S. and Europe. Elanco announced that third-quarter worldwide sales of animal health products were essentially flat compared with a year ago. Excluding unfavorable exchange rates of 4 percent, sales growth was 4 percent. Sales of Tylosin were down 24% from third quarter 1998, and sales of monensin were up 7%. Schering-Plough announced that worldwide sales of animal health products in the third quarter were flat at $161 million (up 1 percent when foreign exchange is excluded). Worldwide sales of animal health products increased 2% to $486 million in the 1999 first nine months (3 percent when foreign exchange is excluded). Novartis reported third quarter AH sales were up 4% with dynamic sales particularly in the US and Asia Pacific region. Nine-month sales in the companion animal segment were driven by a marked expansion of Interceptor and Sentinel in the US, while the farm animal business was held in check by very low commodity prices. Capstar flea
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October 22, 1999
Animal Health News & Notes for October 15, 1999
**************************************************************** Brakke Consulting’s Animal Health News & Notes for October 15, 1999 According to Feedstuffs magazine, both Pfizer and Hoffmann-La Roche are reportedly considering divesting at least part of their respective medicated feed additives businesses. Profits for medicated feed additives have suffered recently, and the European stance on in-feed antibiotics is impacting the business as well. IDEXX Laboratories reported that third quarter net income increased 41% to $8.4 million, up from $6.0 million for the same period last year. Revenue for the three months ended September 30, 1999 increased 10% to $86.4 million from $78.5 million for the same period in 1998. IDEXX also announced that Ralph K. Carlton would step down as Chief Financial Officer to head the Company’s veterinary information business, which includes its VetConnect Internet venture and its IDEXX Informatics subsidiary. Heska announced it has recently received four new patents. Two patents are for the use of the high affinity IgE receptor alpha chain to detect IgE, and two patents cover novel flea antigens associated with flea bite allergy. Heska now holds 40 patents and 93 pending patent appliations. PetMedExpress and the Florida Board of Pharmacy have agreed to a settlement regarding charges filed against the former. The settlement includes a $40,000 fine, continuing education, and monitoring by the Board for 30 months. Planet Polymer Technologies Inc.
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October 15, 1999
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