Bayer Publishes First Quarterly Report of 2015

Bayer has continued to improve its operating performance. Business expansion has occurred in all Consumer Health divisions, especially in Consumer Care where products acquired by Merck & Co., Inc. have contributed. Significant growth in sales and earnings were reported at HealthCare.

The CropScience business were improved over the previous year quarter however overall earnings were down. Performance was steady even in a weaker market environment.

MaterialScience felt an expected slight decline in sales due to lower raw material prices resulting in lower selling prices.

Due to the positive business development seen in the first quarter this year Bayer will be raising their Group guidance for 2015 due to currency effects. Groups sales rose to EUR 12.1 billion. Net income decreased 8.4% to EUR 1.3 billion. EBITDA before special items increased 9.6% to EUR 3 billion and EBIT decreased 4.7% to EUR 2 billion. Core earnings per share raised 7.7% to EUR 2.10.

READ THE FULL MANAGEMENT REPORT

Bayer AG publishes third quarter report for 2014

The Bayer Group continued its strong upward trend in the Life Science business - HealthCare and CropScience - for the third quarter of 2014.

"We saw robust sales growth for our recently launched pharmaceutical products and in our CropScience business in North and Latin America," said Bayer Management Board Chairman, Dr. Marijn Dekkers. 

Sales of the Bayer Group rose by 5.6% in the third quarter of 2014 to EUR 10,187 million. Gross cash flow rose by 9.1% to EUR 1,492 million due to improvement in EBITDA, while cash flow moved ahead by 5.1% to EUR 1,816 million. Net financial debt declined from EUR 9.9 billion on June 20, 2014, to EUR 8.5 billion on September 30, 2014.

Sales in the Consumer Health segment rose by 2.4% to EUR 1,921 million. This increase was driven by the Consumer Care and Animal Health divisions. In the Animal Health Division, sales of the Seresto™ flea and tick collar in Europe developed particularly well. 

READ THE REPORT 

Avivagen launches new corporate website

Avivagen Inc., a wellness company developing products that support and enhance the health and quality of life for animals and the people who care for them, announced today the launch of its new corporate website. 

Avivagen believes its new site reflects the evolution of the company into a more customer-focused entity. The website design is intended to enable stakeholders to more readily access corporate information, including the growing body of knowledge about the properties, functions and commercial utility of Avivagen's products - OxC-beta for livestock feeds and Vivamune™ Health Chews or Oximunol™ Chewables for pets. 

"As a business, we want to provide easy and full access to product information for all concerned parties," said Cameron Groome, Avivagen President and CEO. "We believe our new website will provide better access to all our data resources and we encourage you to visit."

For more information, visit www.avivagen.com

Changes to the Novartis Executive Committee after expected completion of portfolio transactions

Three members of the Executive Committee of Novartis to leave company, following completion of portfolio transactions expected to close in first half 2015

Basel, October 8, 2014 - Novartis confirmed today that following completion of the transactions with GlaxoSmithKline (GSK) and Eli Lilly and Company (Lilly) in the coming months, that the three business leaders of the Novartis divisions at the center of the transaction will leave the Executive Committee of Novartis (ECN). The expected changes to the ECN are subject to the closing of the transactions announced on April 22nd 2014 - Novartis expects the transaction with GSK to be completed in the first half of 2015, and the transaction with Eli Lilly for its Animal Health Business to close in the first quarter of 2015.

George Gunn, currently Division Head, Novartis Animal Health, will reach his contractual retirement age in July 2015 and will retire from Novartis. Upon closing of the Animal Health transaction with Lilly he will leave the ECN.

Brian McNamara, currently Division Head, Novartis OTC, will transition to GSK as Head of Americas and Europe for the consumer health businesses, reporting to the President of GSK Consumer Healthcare, effective at closing of the transaction.

Andrin Oswald, currently Division Head, Novartis Vaccines, will be leaving Novartis to pursue other opportunities following closing of the transaction with GSK.

READ THE NEWS RELEASE

Bayer Animal Health sees positive sales in Q2 2014

The Bayer Group was again successful in the second quarter of 2014. Sales of the Bayer Group rose by 0.9% in the second quarter to EUR 10,458 million (Q2 2013: EUR 10,360). Adjusted for currency and portfolio effects, sales advanced by 6,3%. EBIT rose by 14.5% to EUR 1.473 million (Q2 2013: EUR 1.287 million). 

Gross cash flow in the second quarter of 2014 advanced by 1.5% to EUR 1,705 million (Q2 2013: EUR 1,680 million) due to the improvement in EBITDA, while cash flow moved ahead by 4.2% to EUR 1,601 million (Q2 2013: EUR 1,536 million). Net financial debt increased from EUR 9.1 billion on March 31, 2014 to EUR 9.9 billion on June 30, 2014. 

READ MORE: Stockholders Newsletter Second Quarter 2014

Sales of HealthCare rose in the second quarter by 0.9% to EUR 4,485 million (Q2 2013: EUR 4,800 million). The Animal Health business developed positively with 5% growth to EUR 362 million (Q2 2013: EUR 358 million). The Seresto™ flea and tick collar contributed to this increase, partly on account of volume gains in the United STates. Sales of the Advantage™ line of flea, tick and worm control products showed a slight decrease. 

READ MORE: Bayer continues positive business development

Bayer releases 2014 Q1 Financial Report

Bayer released its first quarter financial report this week and the pharmaceutical company is reporting encouraging growth in its sales and earnings. 

Gross cash flow in the first quarter of 2014 rose by 13.3% to €2,048 million due to the improvement in EBITDA. Net cash flow, however, declined to €163 million because more cash was tied up in working capital. 

Net financial debt rose from €6.7 billion on December 31, 2013, to €9.1 billion on March 31, 2014. This increase was driven by the acquisition of Algeta ASA, Norway. 

Sales of the Animal Health Division rose by 8.0% to €330 million. Business with our Advantage™ line of flea, tick and worm control products developed particularly well. 

READ THE REPORT 

Eli Lilly and Co. to buy Novartis animal health assets

Following a strategic review of assets, Novartis announced yesterday it is selling its animal health unit to Eli Lilly and Co. for $5.4 billion. The transaction will strengthen and diversify Lilly's own animal Health business, Elanco. Upon completion of the acquisition, Elanco will be the second largest animal health company in terms of global revenue. 

Lilly Chairman, President and CEO, John C. Lechleiter, said the acquisition of Novartis Animal Health validates Lilly's commitment to Elanco as a key component of Lilly's business going forward. 

"Animal health continues to represent an attractive growth opportunity for Lilly. We intend to keep Elanco and to take advantage of the substantial synergies between our animal health and human health businesses," said Lechleiter. "Global trends suggest continued sustained demand for animal health products in the years ahead... we intend to create value for our shareholders through a larger commercial footprint, and improving efficiencies and lowering costs." 

Lilly said it plans to fund the deal with about $3.4 billion of cash on hand and borrow $2 billion. 

Separately, Novartis said it agreed to buy Britain's GlaxoSmithKline PLC (GSK) oncology products for $14.5 billion in milestone payment. Both moves are part of Novartis' effort to unload smaller business units and focus on areas where the company can lead the market. 

READ THE NEWS RELEASE

Bayer continues positive business momentum

The Bayer Group continued its positive business momentum in the third quarter of 2013 with substantial contributions from the Life Science, Healthcare and CropScience sectors. 

"Healthcare registered encouraging growth, largely due to the outstanding sales performance for our new pharmaceutical products," said Bayer Management Board Chairman, Dr. Marijn Dekkers. 

After currency and portfolio adjustments, reported sales of the Bayer Group grew by 6.0%. Earnings before interest and tax improved by a substantial 47.5% to EUR 1,221 million. Gross cash flow moved ahead by 35.9% to EUR 1,367 million, mainly as a result of the significant improvement in EBIT. Net cash flow fell by 13.0% to EUR 1,728 million because less working capital was released than in the prior-year quarter. Net financial debt declined from EUR 9.0 billion on June 30, 2013 to EUR 7.7 billion on Sept. 30, 2013, largely as a result of cash inflows from operating activities. 

For the full report, visit BAYER INVESTOR RELATIONS

Pet meds and the pharmaceutical cost battle

Veterinary practices found themselves under fire after an article published by CBC News claimed pet owners can find prescriptions for thier animals at highly discounted rates from pharmacies and wholesalers rather than vet clinics. 

READ THE ARTICLE

The CBC News investigation discovered that pet owners could save as much as 63 per cent on pharmaceuticals when purchased off-site. But the Canadian Veterinary Medical Association (CVMA) insists buying medication through veterinary clinics has a number of advantages:

• Veterinarians have the drug available on-site at a dosage and form appropriate for the patient.
• Veterinary health care teams are knowledgeable about veterinary drugs and the patient’s medical history. They can answer questions about the administration of medications and any potential adverse reactions.
• Veterinary drugs are carefully developed by manufacturers for a specific species and for a specific medical condition, and clinical trials are conducted on that species to test the efficacy of the drugs.
• Veterinarians will report adverse reactions to drug manufacturers. This ensures drug safety and improved quality and efficacy of veterinary drugs.
• It’s convenient for pet owners. Pets are examined, diagnostics (such as X-rays) are performed if necessary and prescriptions are filled on premises without delaying the onset of treatment.

Kristin McEvoy, manager of Communications at CVMA adds that veterinary practices are independent small businesses that set their prices based on the cost of delivering the product. 

"Economies of scale come with volume," she said. "Therefore, it may be difficult for a veterinarian to compete with the pricing offered through retail pharmaceutical outlets.

Dr. Drew Van Niekerk, DVM, expressed concern when drugs not tested for safety in animals are purchased and administered. 

"If problems occur, we have the full support of the companies, who have worked hard and spent many millions of dollars to test the products on animals," he said. "Human pharmacists are trained in the dispensing of drugs and advice in humans, not animals.  Their expertise does not apply to animals who have much different metabolism than humans.

JOIN THE CONVERSATION

CDMV becomes Largest pan-Canadian Distributor with Acquistion of DVS

Denis Huard President of CDMV, announced today that it has taken steps to acquire the assets of Distribution Vie et Santé (DVS). The official takeover of these assets will take place on or about November 28, 2011.
 
The acquisition of Distribution Vie et Santé’s assets is an exceptional opportunity for CDMV to retain in Québec and the Atlantic provinces an effective and profitable expertise in the distribution of veterinary products that is highly valued by its customers. The alignment of the two companies’ values and cultures will help to ensure a transparent transition for clients.

As a result of this acquisition, CDMV will become the largest pan-Canadian distributor of veterinary products, dealing with more than 2,700 veterinary establishments.

CDMV intends to keep the Québec City distribution centre’s activities operational in order to serve customers located in that city and its immediate vicinity as well as those in the eastern part of the province. Clients in the Atlantic provinces will be served by CDMV’s distribution centre in Halifax.

CDMV has experienced strong growth for several years and this acquisition is part of its commitment to ongoing innovation in order to continue to better serve its clients. For more information, do not hesitate to contact:

Dr. Pierre Bédard, Director - Purchasing, Customer Service, Medical Info at CDMV
pierre.bedard@cdmv.com or 450-771-2368 ext. 221
Hélène Ringuet, Director – Communications at CDMV
helene.ringuet@cdmv.com or 450-771-2368 ext. 225
Alain Bernier, Vice-President - Distribution Vie et Santé
abernier@vieetsante.ca or 418-650-7888 ext. 225

Pfizer, Pharmacies Warn of Counterfeit Drug Risks

Pfizer (PFE: 17.68, -0.30, -1.67%) has launched a new effort in connection with various pharmacies to draw attention to the risks associated with counterfeit prescription drugs.

The campaign comes amid growing concerns over illegitimate drugs and a recent spike in online purchases of them. Worldwide sales of counterfeit medicines were estimated to exceed $75 billion last year, an increase of 90% since 2005.

The announcement also comes on the same day a Boeing (BA: 60.51, -1.86, -2.98%) plant was raided by the FBI and DEA, leading to the arrest of 23 individuals and chargers against another 14 for illegally distributing or possessing prescription drugs.

The New York-based pharmaceutical giant warned that counterfeit medicines could cause serious health consequences, either because they include dangerous substances such as rat poison or lead paint, or because they do not include the appropriate amount of ingredients as approved by the FDA.

Read the full article by Jennifer Booton at foxbusiness.com

FidoPharm Merial Patent Battle Continues

FidoPharm says the United States District Court for the Middle District of Georgia has ruled that PetArmor Plus can remain on retailer shelves while retailer supplies last.

The rulling comes in the ongoing patent battle over the availability of FidoPharm's PetArmor Plus (fipronil/S-methoprene) product, a generic version of Frontline(R) Plus.  The sale and availability of FidoPharm's PetArmor (fipronil) product remains unaffected by this litigation.

FidoPharm says both PetArmor and PetArmor Plus are equally effective at killing adult fleas and ticks because both contain fipronil, the No. 1 vet-recommended active ingredient for flea and tick protection. PetArmor, which contains the same active ingredient in the same concentration as Frontline Top Spot(R), is available at Walmart, Target, Walgreen's, H-E-B, Walmart.com, PetCareRx.com, Target.com, Walgreens.com and select farm-and-garden supply stores. FidoPharm says pet owners can rest assured that any previously-purchased PetArmor Plus can be used safely on their pets as these legal issues are unrelated to product safety or performance.

The Georgia court's order marks another chapter in Merial Limited's and Merial SAS's continued fight to block competitors from entering into the fipronil-based, flea-and-tick treatment market. The validity of Merial's patent has not been fully considered by any court, and Velcera and FidoPharm maintain that they do not infringe any valid claim of the Merial patent in question. FidoPharm will continue its vigorous defense against Merial, so it can provide pets and pet owners even more options for effective, affordable and convenient flea and tick treatment.

"Merial has aggressively litigated its fipronil-related patents to stop perceived competitors from bringing to market, or even attempting to develop, products that could potentially compete with Frontline and Frontline Plus," said Alex M. Kaufman, president and chief executive officer, FidoPharm, Inc. "We believe greater consumer access to top quality, affordable animal health products is fundamental to good pet health, and we will continue to develop best-in-class pet health products that contain the same active ingredients and effectiveness as branded products but at a significantly lower price to pet owners."

About FidoPharm:
FidoPharm is a leading pet health products company committed to providing consumers with best-in-class pet health products that contain the same active ingredients as branded products but at a significantly lower cost. FidoPharm products are available at major retailers nationwide, offering consumers the benefits of convenience and cost savings to ensure the highest quality care for their pets.

Learn more

SOURCE PetArmor