Aratana has not yet built up enough manufacturing capacity to support demand for its USDA-approved AT-004 for canine B-cell lymphoma--or for AT-005, a treatment for T-cell lymphoma that it's selling on a limited basis under a conditional license from the USDA. So on Wednesday, the company told investors not to expect a full launch of either lymphoma product until late 2016.
During its fiscal fourth quarter, Michigan-based Neogen--a global supplier of animal safety and genomics products--suffered from negative currency fluctuations in Brazil, Mexico, and across Europe. But strong demand still pushed the company's sales up 17% year-over-year to a record $78.6 million. Its earnings jumped 25% to $9.4 million, or $0.25 per share, which was also a record.
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The H5N2 virus that has wiped out 48 million chickens and turkeys has waned of late, thanks to warm temperatures, but scientists are worried that the virus will return in the fall, as migrating wild birds fly south for the winter. So the USDA is working hard to test a vaccine, license it for mass production, and stockpile it around the country.
Veterinary diagnostics maker IDEXX reported on Thursday that its revenues for the second quarter grew 6% year over year to $413 million, as placements of its blood analysis systems hit a record of 900 units for the period. Placements of its Catalyst One next-generation chemistry analyzer skyrocketed 44% to an all-time record of 1,100 units, the company said in a press release announcing the results.
Distributor Henry Schein, which is undergoing a major expansion of its animal health business, reported that earnings in the second quarter grew 8% year over year to $123.2 million or $1.46 per diluted share, on sales that rose a half-percent to $2.6 billion.
Veterinary diagnostics maker Heska's stock has more than doubled since last year, but it's clearly experiencing some growing pains. On Wednesday, Heska missed analysts' sales targets for the second quarter, reporting year-over-year revenue growth of 4% to 23.9 million. Analysts had been expecting revenues of $24.3 million.
Investors pushed shares of pet hospital chain VCA up more than 10% to $60 on Wednesday morning, after the Los Angeles company announced that its sales in the second quarter grew 12% year over year to a record of $548.8 million and its net income jumped 19% to $54.3 million, or $0.70 a share.
The rise of the Internet, coupled with the increasing availability of big data, offers new tools to farmers that could make livestock production far more efficient in the future.
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Celgene is hedge fund manager Kyle Bass' latest patent target, it says--but the biotech isn't taking the news lying down.
Sanofi's new CEO, Olivier Brandicourt, has a new company structure he is trotting out, a new potentially hot cholesterol-lowering drug to launch and now is able to take credit for a full quarter's worth of financial results that outperformed the street's best guesses. He even said today that Sanofi may be ready to do some wheeling and dealing, having so far stayed out of the M&A melee that has been going on all year.