VIRBAC: Feline Hyperthyroidism: Virbac acquires Thyronorm

Core Insights - Virbac has acquired an innovative drug from Norbrook to treat feline hyperthyroidism, enhancing its product portfolio in a growing market segment for senior cats [1][2][5] Acquisition Details - The acquisition is valued at approximately £100 million and is expected to positively impact Virbac's sales growth and EBITDA margin from the first year [2] - The drug, marketed as Thyronorm in the UK, Australia, and New Zealand, and Felanorm in the US, is designed to stabilize hyperthyroidism in cats [1][2] Market Context - Hyperthyroidism affects over 10% of older cats, leading to serious health issues if not managed properly [2] - The increasing number of household cats and their longer lifespans make such innovations crucial for managing chronic diseases [3] Product Characteristics - Thyronorm is a liquid formulation, which is easier to administer than tablets, allowing for precise dosing [3] - The product is currently generating revenue of €14 million, with in-market sales around €27 million, indicating strong market potential [4] Strategic Partnership - Norbrook will remain the manufacturer of the product, while Virbac will gradually take over distribution in various markets [4] - Virbac aims to leverage its global presence and veterinary relationships to enhance product accessibility and education for veterinarians and pet owners [4] Company Vision - The acquisition aligns with Virbac's commitment to advancing animal health and addressing unmet needs in the market for difficult-to-treat conditions [5] - Virbac emphasizes its dedication to integrating and growing innovative assets for sustainable growth [5][6]