Animalcare plans new launches for 2019

Pet drugs firm Animalcare Group has reported good progress in 2018 following the launch of 10 new products and said it has plans to launch a further six products in 2019 or early 2020.
Animalcare makes drugs for companion animalsAnimalcare makes drugs for companion animals
Animalcare makes drugs for companion animals

The York-based firm said revenue rose 16 per cent to £73m in the year to December 31 whilst underlying earnings rose 22 per cent to £12m.

The firm made a statutory pre-tax loss of £400,000 following charges related to its reverse acquisition of Ecuphar in July 2017.

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Jan Boone, chairman of Animalcare, said: “Animalcare made good progress in 2018 as we focus on creating a competitive platform for future growth in the global animal health sector.

“We continue to improve the underlying profitability of the group, and the disposal of our wholesale division was in line with our strategy to focus on the higher-margin veterinary pharmaceuticals business, a key growth driver.”

Jenny Winter, the new CEO of Animalcare, said: “Since joining Animalcare in October last year, I have been impressed by the competitive strengths of the business and the size of the growth opportunity.“

Ms Winter has conducted a detailed review of all areas of the business and set out a strategy for future growth.

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“Our goal is to deliver sustainable and profitable growth and to achieve this, we will focus on meeting the needs of vets in therapeutic areas where we have existing strengths and can further add value,” she said.

Mr Boone said sales growth was affected towards the end of the year by supply challenges related to third-party manufacturers, some of which impacted the wider market.

“We also experienced some delays to new product launches and lower demand in the large animal portfolio, particularly for antibiotics which was reflective of an overall market decline in demand,” he said.

Animalcare decided to dispose of its wholesale division in order to focus resources on the higher margin veterinary pharmaceuticals business.

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