Fountain Report Excerpts February 28, 2023

Fountain Report Excerpts
  1. Elanco reported fourth quarter revenue of $988 million, down 11%. Reported net loss was $54 million, or 11 cents per share, compared to a net loss in 2021 of $104 million, or 21 cents a share. Adjusted net income was $95 million, or 19 cents per share, down 10%. Revenue for the year was $4.42 billion, down 7%. Reported net loss was $74 million, or 15 cents a share, compared to a net loss of $482 million, or 99 cents a share, the prior year. Adjusted net income of $548 million, or $1.11 a share, was up 4%.
  1. A new survey shows the steep costs owners face for pet care. Eighty-three percent of pet owners have had to borrow money at some point to pay for pet care, according to the survey by Credit Summit of 1,200 people in the United States. Almost 32% said they had to decline treatment for their pet because they couldn’t afford it. Twenty-one percent of respondents said they’ve used a payday loan to pay for pet care, and 10% reported using a title loan.
  1. Mazen Animal Health, an Iowa-based agricultural biotechnology company, has received a patent for its technology to produce oral animal vaccines, WRAL TechWire reports. The U.S. Patent and Trademark Office issued a patent covering foundational technology for the company’s first product, a vaccine against porcine epidemic diarrhea virus. The vaccine’s antigen will be grown in genetically modified corn and then mixed into corn feed, which will be dosed to cows during gestation, providing immunity to their piglets through breast milk. The vaccine is expected to be commercially available in 2024.

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