Profile - Stephen Wildridge: Pets mean profits for vet drugs firm in a nation of animal lovers

As a nation, the British are potty about their pets, which is good news for Animalcare and its new chief executive Stephen Wildridge.

The vet supplier has seen a 20 per cent increase in sales at its pet drugs division over the past year and is looking forward to further growth over the coming year.

Having spent seven years as managing director of Animalcare, Wildridge was catapulted into the top job on April 1 when the Ripon-based company decided to bring in new management.

Despite his inauspicious starting date, Wildridge has overseen strong trading at the group over the past four months.

"These days people view their pets as part of the family," he says. "The profile of pets has changed. My granny had a budgerigar, but these days people have cats, dogs, rabbits and other small furry animals that they treat as members of

the family."

Wildridge himself is a good example of the modern attitude towards pets. He has an 18-year-old feral French cat that has travelled the globe with his family.

"I dread to think the amount of money we've spent on that cat," he says with a laugh.

But his close exposure to the animal market – his daughter is also a vet – has helped steer the group in the right direction.

Animalcare is leading the market with innovative new drugs for dogs, cats and other household pets.

A particular success has been a new beef-flavoured version of the group's generic heart drug Benazecare.

Pets are loathe to take medicine, but if it tastes like

beef they are more likely to swallow it.

"We've not only flavoured the drugs, we've also reduced their size," he explains. "Like humans, animals are reluctant to swallow big pills".

Animalcare has launched two new products this year; an antibiotic called Enrocare, which treats a number of animal species, and a dog epilepsy drug called Phenoleptil.

Another two products will come on the market in September, but Wildridge is keeping quiet as the last time the company revealed its plans, a rival stepped in and flooded the market with its own products.

While revenues have grown in the group's agriculture businesses, the main focus has been the companion animal business, which now accounts for more than 80 per cent of the company.

Analysts at Brewin Dolphin have raised the target share price from 133p to 135p and say they expect to increase 2010 forecasts by nine per cent and 2011 estimates by five per cent.

Away from the pet business, revenues in the combined agriculture businesses of Ritchey, Fearing International and Travik were nine per cent ahead over the past year thanks to a strong performance from Ritchey's electronic sheep tags.

Wildridge is currently reviewing the Ritchey business and will announce the outcome at the preliminary results on October 4.

"I've been given a white sheet of paper," he says. "We could buy another opportunity. The fundamentals and the brands at Ritchey are good. We, or someone else, could invest in and develop the business."

Wildridge stepped up to the plate on April 1 after the group announced that former chief executive, Simon Riddell, was stepping down on "amicable terms".

At the time, analysts said Riddell's departure reflected the dominance of the company's pharmaceutical division.

Wildridge, who spent 16 years with Rhone-Poulenc in a variety of sales, marketing, strategic planning and general management roles, has worked in the life sciences sector for more than 30 years.

Animalcare said that Wildridge's promotion to the top job was due to the increasing significance of the veterinary medicine business and the need for a chief executive with strong veterinary pharmaceutical experience to support the group's development plans.

Talking about his predecessor, Wildridge says: "Simon had done a good job bringing Animalcare into Ritchey. The problem was that the real driving force is the pet drugs side. That's not Simon's background, he's from consumer goods and farming. It was an appropriate move."

The company was previously known as Ritchey, prior to the 14m acquisition of Animalcare at the beginning of 2008. Ritchey, which provides tough tags that can be used on everything from livestock to shipwrecks, is based in Masham.

After his 16 years at Rhone-Poulenc, Wildridge spent five years with Monsanto as general manager for northern Europe.

He was appointed managing director of Animalcare in April 2003, developing the strategic plan for the business and the new product development programme.

While pet medicines is now the main focus for the business, Animalcare has no plans to turn its back on the original farm animal business.

"If we develop an antibiotic for cats and dogs, it probably has a use in farm animals as well," explains Wildridge. "If that is the case, we will also market it for use in farm animals, or else sub-licence it."

Wildridge's many years' experience with Rhone-Poulenc has given him an insight into how the European pet medicines market business works and he is now keen to expand Animalcare into Europe.

"Smaller companies in Europe are coming together in partnership. That's what we're doing," he says. "We are getting together with other European companies that are similar to us."

The key target markets are Germany and France, which will also give access to Austria and the Benelux countries.

Despite his achievements and 30 years' experience in life sciences, Wildridge says he is most proud of his two children, a son, studying history at York University, and his daughter, who has qualified as a vet.

"I talk to my daughter about the medicines we're working on. It's good to have someone at the coal face. She doesn't hesitate to tell me if she thinks I'm wrong," he says cheerfully.

When asked what he'd like to be doing in five years time, he has no hesitation.

"I'll hopefully still be involved with Animalcare; there is a lot more to do."

Stephen Wildridge

Title: Chief executive, Animalcare.

Date of birth: 28.1.56.

Place of birth: Hemsworth, near

Pontefract.

Education: Castleford Technical High, Salford University in Manchester.

Favourite band: Dire Straits.

Car driven: Porsche 911.

Favourite film: A Good Year, directed by Ridley

Scott.

Favourite holiday destination: Brazil, Latin America.

Last book read: The Girl with the Dragon Tattoo, by Stieg Larsson.

What I am most proud of: My children and their achievements.