Zoetis to Sell Medicated Feed Additive Portfolio to Phibro Animal Health
Zoetis Inc. (NYSE:ZTS) and Phibro Animal Health Corporation(Nasdaq: PAHC) today announced that 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 calendar year 2024.
The Risks and Rewards of Clinic-Backed Payment Plans
The realm of veterinary medicine stands at a crossroads, grappling with the pressing issue of accessibility to essential care for pets. Financial constraints pose a formidable barrier, leaving countless animals without the medical attention they urgently need. In response to this challenge, clinics are increasingly turning to clinic-backed payment plans as a means of democratizing access to veterinary services. However, the journey towards implementing these plans is fraught with complexities and risks that demand a closer examination.
IDEXX's Record-Breaking Year: Surging Growth and Revolutionary Pet Healthcare Innovations
For the fourth quarter of 2023, IDEXX's revenues soared to $902 million, marking a robust 9% increase from the previous year on a reported basis and 8% on an organic basis. This growth was primarily driven by the Companion Animal Group ("CAG"), which saw a 10% rise in reported revenue and a 9% increase organically. The CAG Diagnostics segment, in particular, experienced an impressive 11% growth in recurring revenue on a reported basis and 10% organically, underlining the company’s strong market presence and innovative approach.
Vetoquinol Defies Market Trends: How This Animal Health Giant Outperformed in a Flat 2023 Market
Matthieu Frechin, Chairman and CEO of Vetoquinol (Paris:VETO), has announced a remarkable performance in a challenging 2023 animal health market, attributing the company's resilience and agility to its success. Despite flat market volumes, Vetoquinol's 2023 sales were buoyed by the strong showing of their Essentials product line in the latter half of the year, demonstrating sustained growth and operational efficiency
Millennials Dethroned: Surprising New Leaders in Pet Spending for 2024 Revealed
While millennials are often hailed as the top pet-owning generation, accounting for 33% of the 66% of U.S. households with pets, recent trends reveal a surprising shift in spending patterns. Despite their love for pets, millennials are actually spending less than Generation X and baby boomers, according to the American Pet Products Association (APPA) National Pet Owners Survey.
Boosting Your Veterinary Practice's Bottom
In the ever-evolving world of veterinary healthcare, practice managers are facing an array of challenges. These challenges, compounded by the ongoing shortage of veterinary professionals and the relentless rise in operational costs, require innovative and resourceful strategies to ensure the financial strength of their clinics. It's time for veterinary practices not just to survive financially but to do so while maintaining the highest standards of care. This well-kept industry secret, known as the hidden profit booster, revolves around a simple yet powerful shift from national brands to Covetrus brands.