Last quarter, veterinary diagnostics maker Abaxis saw its stock soar on better-than-expected earnings, while rival IDEXX Laboratories plunged on a revenue miss. This quarter, the companies' fortunes were reversed.
Eli Lilly's $5.4 billion acquisition of Novartis Animal Health left it with excess manufacturing capacity that it has spent much of the past year trying to reconcile. Now two animal health factories are on the chopping block--one in Sligo, Ireland, and the other in Dundee, Scotland--the company confirmed after its fourth-quarter earnings call on Jan. 28.
When a new strain of flu virus sickened 1,000 dogs and killed 5 in Chicago back in April, animal health experts wondered just how bad subsequent outbreaks would be. Now, more cases are cropping up across the country, setting off red flags from vets and pet owners.
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Shares of Aratana Therapeutics jumped 25% to $3.99 a share in after-market trading on January 25, after the company announced it had filed for FDA approval of Galliprant (grapiprant), its drug to treat pain in dogs with osteoarthritis. It is Aratana's first FDA filing, and it comes after a turbulent 2015 for the company, which disappointed investors with dashed hopes for its canine lymphoma franchise.
Last fall, veterinary students at Cornell University were the stars of a reality show on Nat Geo WILD called Vet School. Now Cornell's East Coast neighbor, the University of Pennsylvania, is gearing up for its own reality show spotlighting the rigors and adventures of learning to be a veterinarian.
Merck reported that sales in its animal health unit fell 6% year over year to $830 million in the fourth quarter of 2015, which included a 14% negative impact from foreign exchange rates.
Last June, the National Academies' Institute of Medicine hosted a two-day workshop in Washington, DC, aimed at promoting clinical research in dogs that can be translated to finding new cures for people. Now the IOM is sharing insights that came from the more than 20 veterinarians and scientists who attended the event.
Cats with a debilitating tooth ailment called feline chronic gingivostomatitis sometimes experience pain even after getting their teeth removed or taking multiple doses of antibiotics or steroids. But a new treatment that draws on the cats' own stem cells could prove game-changing in helping animals that are suffering from the disease. The findings could also apply to humans with oral diseases.
Jaguar Animal Health has had a rough ride as a public company: First its shares lost half their value within two months of the company going public in May at $7 a share, and now investors are stomping all over its plans to raise more money in a secondary offering.
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Thanks to flailing pharma revenues and its decision to ship away its oncology assets, GlaxoSmithKline has a lot riding on vaccines. And in 2015, the unit delivered with 19% revenue growth, although profit and operating margin both fell.
A little more than a week after Cambridge, MA-based Akashi Therapeutics suspended its study of a new drug for Duchenne muscular dystrophy after a patient was sent to the hospital, the biotech reports that the trial subject has died.