Animal Health News-May 2024

Virbac increased its sales by more than 10% in the first quarter of 2024, with revenue of 345.7 million euros, led by Europe and the U.S. The companion animal segment in Central and Eastern Europe showed strong momentum (+34.9% at constant exchange rates), while the U.S. subsidiary achieved the Group's highest growth (+28.4% at constant exchange rates), particularly in dental and mobility products. The veterinary arm of Merck, MSD Saúde Animal do Brasil, announced the closure of its vaccine and veterinary medicine factory in Montes Claros, impacting around 450 jobs. Meanwhile, the companion animal industry in the U.S. continues to grow, with the American Pet Products Association (APPA) reporting $147 billion in industry spending in 2023 and expected year-on-year growth through 2030.

?? Virbac increased its sales by more than 10% in the first quarter of 2024. Virbac has released its first-quarter 2024 sales results, revealing revenue of 345.7 million euros, with a 10.8% increase at constant exchange rates. All regions showed solid results, led by Europe, where revenue grew by 12.5% at constant exchange rates, mainly driven by strong sales momentum in the companion animal segment in Central and Eastern Europe (+34.9% at constant exchange rates). Meanwhile, the U.S. subsidiary (+28.4% at constant exchange rates) achieved the Group's highest growth, benefiting from growth in the companion animal ranges, particularly in dental and mobility products. The Latin American countries (+1.4% at constant exchange rates) showed a more mixed performance. (animalshealth.es , April.).

?? MSD Saúde Animal do Brasil, the veterinary arm of the American multinational Merck, Sharp & Dohme (MSD), announced the closure of its vaccine and veterinary medicine factory located in Montes Claros, in Northern Minas Gerais. The confirmation came through the company's communications office on Thursday (April 11), following a statement made to the city council. According to the multinational, the decision is not related to the factory's performance, which employs around 450 people, including direct and indirect employees, but rather to global factors affecting the company's operations in the pharmaceutical industry. (comprerural.com , 24th of April).

?? Merck Animal Health announced it has agreed with Cambridge Technologies, an independent custom vaccine company based in Worthington, Minn., to sell and market its innovative autogenous poultry vaccines in the United States. Cambridge Technologies uses cutting-edge molecular diagnostic and manufacturing techniques to develop custom vaccine solutions to help veterinarians and poultry producers manage emerging disease challenges. Through this agreement, Cambridge will contribute its production expertise and distribution while Merck Animal Health will provide its expansive customer reach. (Company site, April).

?? Boehringer Ingelheim Unveils R&D Laboratory, Pioneering the Future of Animal Health Products. The global leader in animal health recently celebrated a new and innovative laboratory space at its St. Joseph, Missouri location by hosting a ribbon cutting. This state-of-the-art facility is set to revolutionize the development of future products, including biotherapeutics. The new laboratory is a testament to Boehringer’s commitment to innovation and excellence. This unique late-stage R&D laboratory, the only one of its kind in the US, is designed to streamline the process of transitioning products from development to manufacturing, enhancing our ability to serve animals better. The lab’s flexible design and proprietary equipment, which allow scientists to mimic operations, remove hurdles of transfers, and maximize efficiency. (petage.com , May 3th).

?? Labyes Argentina CEO Esteban Corrales announced on LinkedIn last week the kick-off of LABYES Colombia. All is prepared for the Argentinean Pharmaceutical Pet company to start operations in one of the top 4 markets in Latin America (LinkedIn, April),

?? Biogénesis Bagó ships 13 million vaccines to combat the outbreak of foot-and-mouth disease in Algeria and Libya. The Argentine animal health company Biogénesis Bagó will send a total of 13 million vaccines against foot-and-mouth disease, in successive shipments through June, to combat outbreaks of this livestock disease in Algeria and Libya, according to its CEO, Esteban Turic, as told to Efeagro. According to the company, North Africa and the Middle East are experiencing a "critical situation with the advancement of foot-and-mouth disease," which the FAO's European Commission for the Control of this disease had already warned could pose a transmission risk to the European Union. In a communication at the beginning of the year, the Commission recommended that security and protection measures be stepped up. (efeagro.com , Apr. 26th).

??The Spanish animal health and nutrition industry, represented by Veterindustria, recorded global sales of 2.097 billion euros in 2023, representing a 7.54% increase compared to the previous year. This figure includes the national market, which reached 1.285 billion euros with a 5.76% increase, while exports surged to 812 million euros, marking a 10.48% rise. (portalveterinaria.com , Apr).

?? The FDA approved?Felix Pharmaceutical's generic carprofen injectable for use in dogs.?(FDA ).

?? Australian company?Poseidon Animal Health?announced it has expanded its footprint in the equine healthcare industry to the US market. Currently marketed in the UAE, Europe, and Asia, Poseidon Animal Health specializes in manufacturing animal digestive health supplements for dogs and horses.?(insidefmcg.com.au ).

?? Merck?announced financial results for the first quarter of 2024. Animal Health sales were $1,511 million, an increase of 1% (4% currency adjusted).?(company press release ).

?? Eco Animal Health revenue set to top expectations. Eco Animal Health said in an update on Thursday that, despite initial foreign exchange challenges, its revenue for the year surpassed market expectations, reaching almost ￡90m, compared to the anticipated ￡88.7m. In terms of earnings, subject to audit, the company's EBITDA for the year ended 31 March was expected to match market expectations, currently estimated at ￡7.8m. (sharecast.com , Apr. 25th).

?? IDEXX Laboratories?reported results for the first quarter of 2024. Revenues were $964 million, an increase of 7% as reported and organic. Net income attributable to stockholders was $235.6 million, an increase of 10%.? Companion Animal Group revenue was $889 million, an increase of 7%.?(company press release ).

?? The FDA announced the approval of?Cronus Pharma’s Pimomedin (generic pimobendan) chewable tablets for the management of signs of congestive heart failure in dogs.?(FDA ).

?? The companion animal industry remains strong in the US despite the crisis. The American Association APPA provided details on its pet spending survey, highlighting that the veterinary industry in this segment is set for solid growth. The American Pet Products Association (APPA) announced that the total spending in the U.S. companion animal industry reached $147 billion in 2023, and it is forecast to see solid year-on-year growth until 2030. The announcement came during the Global Pet Expo, the leading event in the pet-related veterinary industry, co-produced by APPA and the Pet Industry Distributors Association (PIDA). (motivar.com.ar , May 4th).

?? Listed veterinary medicines supplier Animalcare Group has agreed a multimillion-pound deal to sell its stake in a joint venture to Dechra Pharmaceuticals.? The group has reached an agreement in principle to sell its 33.34 per cent equity stake in STEM Animal Health Inc to Northwich-headquartered Dechra for a total cash payment of $4.7m.?STEM is currently owned by York-headquartered Animalcare and Canada-based Kane Biotech Inc.?Other items covered by the agreement will bring the total potential monetary value of the deal for Animalcare Group to approximately $5.4m. (insidermedia.com , Apr.).

?? NEW ZEALAND?Hale Animal Health, a startup developing novel therapeutics for companion animals with a focus on cannabis-derived registered veterinary medicines, announced it raised NZ$2 million ($1.2M) in a funding round led by local venture capital firm WNT Ventures.? The funds will be used to complete the remainder of its CMC? package, in preparation for submission to regulatory authorities for registration as a veterinary medicine.?(Globalpets ).

?? Agrifirm Brasil strengthens customer success with strategic hiring. With a focus on customer satisfaction and progress, Agrifirm has reinforced its technical team, aiming to implement innovative strategies and solutions to ensure that customer needs and objectives are met effectively. Taking on the role of Key Account Manager is Fábio Málaga, along with Gilberto Sim?es and Neventon Santi Vieira, who assume the positions of Technical Support Managers, joining the Agrifirm LATAM team. (feedfood.com.br , Apr.).

?? Aviagen strengthens ties with poultry producers. The "Aviagen Connection" took place during March and April across Brazil. The "Aviagen Connection" is an initiative that bolsters the poultry industry by equipping producers to tackle emerging challenges and improving the efficiency of their operations, thereby contributing to the sustainable development of the sector in Brazil. In this context, the Brazilian Aviagen team traveled across the country during March and April to conduct the traditional series of events, providing poultry producers with the latest insights to help them achieve the best potential from Ross? 308 AP chickens. (feedfood.com.br , Apr)

?? Zoetis to Sell Medicated Feed Additive Portfolio to Phibro Animal Health. Both companies announced they have entered into a definitive agreement where Phibro Animal Health will acquire Zoetis’ medicated feed additive (MFA) product portfolio, certain water-soluble products, and related assets for $350 million, subject to customary closing adjustments. This transaction is expected to be complete in the second half of the calendar year 2024. The acquired product portfolio, which generated approximately $400 million in revenue in 2023, is comprised of more than 37 product lines that are sold in approximately 80 countries. Also included in the agreement are six manufacturing sites, four in the U.S., one in Italy, and one in China. More than 300 Zoetis colleagues who support manufacturing, distribution, and commercial activities are expected to transition to Phibro Animal Health. (businesswire.com , Apr. 28th).

?? Mervue Laboratories, the Irish Nutraceuticals Manufacturer is expanding their business in LATIN AMERICA with their Pet, horse, livestock, pork, and poultry portfolios through a distributor network. The company is part of the Inform Nutrition Ireland Ltd. group and was established in 1985 by Martin Beirne and Denis Twomey. Now they have a presence in more than 67 countries. (Company Linkedin).

?? Zoetis?Inc. reported its financial results for the first quarter of 2024. Revenue was $2.2 billion, an increase of 10% compared with the first quarter of 2023. Net income was $599 million, an increase of 9%.? Revenue in the U.S. segment was $1.2 billion, an increase of 16%.?(company press release ).

?? Zoetis?and?Orion Corporation?announced the U.S. commercial launch of Bonqat (pregabalin oral solution) to veterinary clinics throughout the US. Bonqat is the first-and-only FDA-approved product for the alleviation of acute anxiety and fear associated with transportation and veterinary visits in cats.?(company press release ).

?? EU?Elanco Animal Health?introduced VitaVet, a platform dedicated to offering support to the veterinary community by providing useful tips aimed at improving both the professional and personal well-being of veterinarians. The VitaVet initiative is part of Vetnia, a program aimed at promoting the importance of the veterinary profession, enhancing the knowledge and health of professionals, supporting the growth of veterinary clinics, and providing effective solutions for patient care.?(breakinglatest.news ).

?? Vetoquinol Group?reported results for the first quarter of 2024. Sales were EUR 134 million ($143 million); sales in the USA were EUR 28.5 million ($30.5 million). The company reported that current quarter data was not comparable with the first quarter of the previous year because of an overstocking effect in Q1 2023; however, sales were down 4% year-over-year.?(finance.yahoo.com ,?market-screener ).

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