Study Details the Cost of Raising a Dog or Cat
How much is that doggie in the window? Up to $55,000 over its lifetime, according to a report from Synchrony, CareCredit and Pets Best Pet Insurance.
The Lifetime of Care study, based on a survey of 1,200 U.S. pet owners and 100 veterinarians, pegged the first-year cost of a dog at $1,270 to $2,803. Over 15 years, the owner can expect to spend from $19,893 to $55,132. The higher amount includes pet health insurance, veterinary wellness plans and other non-basic expenses.
With cats, the first-year cost ranges from $961 to $2,487. Lifetime expenses are $15,055 to $45,780.
The report gives pet owners a good idea of what they’ll encounter financially.
“Millions of Americans choose to share life with a pet, yet the true cost of ownership has historically been incredibly vague,” said Jonathan Wainberg, a Synchrony senior vice president and pet division general manager. “Our Lifetime of Care study serves as a helpful tool to prepare prospective pet parents.
“We want pet parents to have a deeper understanding of what to expect financially and knowledge of the flexible payment solutions that are available to help them manage the costs of care throughout their pet’s lifetime.”
Just over half of the pet owners who responded said they would consider a dedicated pet care credit card like CareCredit to cover a veterinary bill at checkout.
More survey details are at bit.ly/3qt777C.
Solensia, from Zoetis, Alleviates Feline OA Pain
Solensia, an injectable monoclonal antibody designed to control osteoarthritis pain in cats, is expected to enter the U.S. market in the second half of 2022.
The manufacturer, Zoetis Inc., reported that Solensia (frunevetmab injection) was approved by the U.S. Food and Drug Administration. European veterinarians have administered the monthly treatment to feline patients since May 2021.
“Feline OA pain is typically undertreated because of a lack of effective solutions that are safe to use long term, along with how difficult it can be for cat owners to administer oral medicines,” said Mike McFarland, DVM, DABVP, the chief medical officer at Zoetis. “The approval of Solensia is a significant step forward in the control of feline OA pain.
“Cat owners and veterinarians alike can feel confident that Solensia … [will] control OA pain and help cats get back to moving more freely again.”
Solensia targets nerve growth factor (NGF), a key driver of osteoarthritis pain, Zoetis stated.
Dechra to Launch Oral Lymphoma Drug for Dogs
Dechra Veterinary Products has acquired the global rights to Laverdia-CA1, a canine lymphoma drug conditionally approved a year ago by the U.S. Food and Drug Administration.
The developer of Laverdia-CA1 (verdinexor tablets) is Anivive Lifesciences Inc. of Long Beach, California.
“Under the terms of the agreement, Dechra will begin selling, marketing and supporting Laverdia-CA1 in the United States in the first quarter of 2022,” Dechra reported. “The product is a novel, oral SINE (selective inhibitor of nuclear export) drug and is the first oral tablet for canine lymphoma.”
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