Fountain Report Excerpts Feb 20, 2024

Fountain Report Excerpts
  1. Zoetis reported fourth quarter revenue of $2.2 billion, up 8%. Net income of $525 million, or $1.14 per diluted share, was up 14% (15% per share). For the year, revenue of $8.5 billion was up 6%. Net income of $2.3 billion, or $5.07 per diluted share, was up 11% (13% per share). Quarterly highlights included an increase of 10% in companion animal product sales, driven by the company’s monoclonal antibody products for osteoarthritis pain, Librela for dogs and Solensia for cats, as well as the company’s flea, tick and heartworm combination product for dogs, Simparica Trio.
  1. Trupanion reported fourth quarter revenue of $295.9 million, up 20%. Total enrolled pets was 1.7 million as of December 31, up 12%. Subscription business revenue of $191.5 million was up 21%. Net loss was $2.2 million, or 5 cents per share, compared to net loss of $9.3 million, or 23 cents per share, in 2022. For the year, revenue of $1.1 billion was up 22%. Subscription business revenue of $712.9 million was up 19%. Net loss was $44.7 million, or $1.08 per share, compared to net loss of $44.7 million, or $1.10 per share, in 2022.
  1. A bill introduced in the California State Legislature would permit a registered veterinary technician to neuter a male domestic cat provided they’re directly supervised by a veterinarian. If passed, the measure would make California the only state to allow veterinary technicians to perform the surgery on cats, according to the AVMA. Supporters of the bill say it’s one among several steps needed to address the apparent shortage of veterinarians and combat a “pet overpopulation crisis” in the state. Opponents say the change would put cats at risk and set a dangerous precedent in the practice of veterinary medicine. The bill is sponsored by Social Compassion in Legislation, an animal welfare organization focused on public policy. The AVMA and California Veterinary Medical Association have voiced their strong opposition to the measure, the VIN News Service reports.

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