Weekly Companion Animal News: December 2, 2024

Texas A&M approves construction of veterinary teaching and research complex

Texas A&M University has approved construction of the Texas A&M College of Veterinary Medicine & Biomedical Sciences’ (VMBS) new Clinical Veterinary Teaching & Research Complex (CVTRC). The facility will house 15 of the Small Animal Teaching Hospital’s specialty referral services, including oncology, neurology, ophthalmology, dentistry, nutrition and interventional radiology. There also will be more space allocated for the SATH’s Emergency Service and Intensive Care Unit. The new hospital is slated for occupancy in August 2027.

Boehringer Ingelheim launches oral VETMEDIN Solution

Boehringer Ingelheim launched VETMEDIN Solution, said to be the first oral solution approved by the FDA for the management of congestive heart failure in dogs due to myxomatous mitral valve disease (MMVD) or dilated cardiomyopathy (DCM). According to the company, the solution provides the same dual mode of action as VETMEDIN Chewable Tablets.

Females in veterinary corporate leadership: How much progress?

Women today comprise 67% of the nation’s veterinarians and 83% of veterinary school students, but only recently have female veterinarians attained positions of leadership in appreciable numbers and still not in proportion to their population. Still, there are exceptions, such as those interviewed by VIN News Service.

MPM upgrades membership in Pet Sustainability Coalition

Pet food maker MPM is the latest company to upgrade its membership in the Pet Sustainability Coalition to the highest tier, the Icon level. By doing so, MPM reinforces its commitment to responsible sourcing, transparency and environmental stewardship in the pet food industry.

Cultivated pet food partnership in the works

Sustainable protein pet food startup Friends & Family Pet Food is partnering with cell-based meat player Novel Farms, to bring a new class of cultivated meat pet food products to the U.S. market. This partnership follows FnF’s recent collaboration with Singaporean cultivated seafood company Umami Bioworks to create cultivated fish-based cat treats. Prototyping of the new product is set to begin in 2025.

Vietnam is growing market for pet food

Vietnam’s pet food market is poised for growth, as an estimated 5.6 million households (20%) own dogs and 4 million (14%) own cats. The country’s overall pet market is worth $68.4 million and is estimated to have grown 35% in 2023. Pet food imports are estimated to have reached 27,620 metric tons, valued at $55 million, in 2023.

New York retailers warned against selling pets

New York Attorney General Letitia James has reminded licensed pet dealers with retail stores that selling dogs, cats and rabbits will be illegal in the state starting Dec. 15. The pet sale ban is intended to stop large-scale breeding operations known as “puppy mills,” where animals are often mistreated and suffer from serious health issues. Stores that sell pets after Dec. 15 can face penalties of up to $1,000 per violation.

Many retailers increase store-card interest rates ahead of Fed cuts

At least 50 of the largest U.S. retailers – including Petco, Gap and Meijer – boosted interest rates on their store credit cards between September 2023 and September 2024, according to Bankrate.com. Bankrupt home goods chain Big Lots posted the largest increase, raising its APR by 6 percentage points from 29.99% to 35.99%. Gap made a 5 percentage point hike on its Banana Republic, Athleta, Old Navy and namesake cards. Petco followed with a 4.5% rate hike.

Aldi USA president reveals aggressive growth plans

Discount retailer Aldi USA is investing $9 billion to open 800 additional stores over the next five years; it already has 2,400 stores in 38 states. Company President Dave Rinaldo made the remarks at the Private Label Manufacturers Association annual trade show Nov. 17-19 in Chicago.