Animal health as been overlooked by most investors and provides attractive valuations with strong upside potential.
Globally there are 68.8 billion poultry, 1.5 billion pigs, 1 billion heads of cattle, 233 million dogs and 220 million cats2. 62% of U.S. households own a pet3 and 2011 animal health sales were $22B.
There is strong growth expected in all animal health related global regions and species sectors for pharmaceuticals, biologicals and other products. There is a defined need for animal health products to meet the needs of a growing animal and aquaculture population and the increase in the number of therapeutic targets.