Today's Veterinary Business

JUN 2018

Today’s Veterinary Business provides information and resources designed to help veterinarians and office management improve the financial performance of their practices, allowing them to increase the level of patient care and client service.

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Page 24 of 77

Certainly, pharmaceutical block- busters are substantially smaller in the veterinary space, but the development resources are equal- ly proportional. As such, if we are looking for relative gains and not absolute gains, then both human and animal biotech companies are equally well-positioned to realize potential new revenue streams. Understand the animal health drug-approval process. A clear point of similarity and differ- ence is the drug-approval process. Although similar in structure, insofar as both human and animal phar- maceuticals have to seek federal approval, the governing agencies are different. A consultant and presenter at the conference, Linda Rhodes, VMD, Ph.D., explained the approval process for both. For human drugs, devices and biological products, there is a single agency: the U.S. Food and Drug Administration. For animal drugs, there are the FDA's Center for Veterinary Medicine, the U.S. Department of Agriculture's Center for Veterinary Biologics and the U.S. Environmental Protection Agency. Each needs to be engaged for different reasons: the Center for Veterinary Medicine for ani- mal drugs, veterinary devices and animal feed or feed additives, the Center for Veterinary Biologics for most veterinary biologics, and the EPA for most veterinary pesticides. Donovan Yeates, MS, Ph.D., the CEO of KAER Biotherapeutics, said: "The need for people working in human health to have a clearer understanding of the animal health industry is a prerequisite for them to take advantage of the opportu- nities presented by the lower devel- opment costs, speed to market and equivalent return on investment." Attend conferences and engage with entrepreneurs. The easiest way to explore novel applications and new relation- ships is to go to summits like the one Kiasco organized. Dr. Tam, of Integrated Nanotherapeutics, asm shown at the summit proved that we are just beginning to explore the overlap of human and animal health. The discovery of diseases that present analogously in humans and animals, the bur- geoning investment in the health care space, and the growing num- ber of pet owners combined with the delay of child-rearing years means that the opportu- nity for animal market growth is in its infancy. By attending more confer- ences, seeking out new market opportunities and reaching across the human-animal health divide, we will be able to create more op- portunities for any of us looking for better health outcomes. 2 3 also recommended attending the BIO International Convention and human disease conferences, such as the American Diabetes Associa- tion's annual scientific sessions. In addition, if animal health compa- nies reached out to human bio- tech companies, then unforeseen opportunities might emerge. Great Potential The comments heard and enthusi- Innovation Station columnist Dr. Aaron Massecar is executive director of the Veterinary Innovation Council.

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