New CFO/COO sees significant value creation potential, driven by a robust innovation pipeline and a passionate team.
Focus is on understanding animal health dynamics, leveraging innovation, and executing a value creation agenda.
Confidence in current financial guidance, with updates expected in November.
Pet care market has shifted from growth to decline, with vet visits and affordability challenges impacting demand.
Competitive pressures have intensified, especially in derm and parasiticides, leading to share loss.
Livestock segment is experiencing strong double-digit growth, driven by increased protein consumption in developed markets.
Targeted, cyclical price promotions began in Q2 and intensified in Q3 to defend share amid new competition.
Promotions are highly targeted, not broad-based, and focus on switching customers from competitors.
List price reductions are limited to areas facing generic competition, such as Cerenia and Convenia.
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