(BFM Bourse) – The biotech TheraVet is sought after on the stock market after the signing of an exclusive distribution agreement with Vetpharma for the distribution of the Biocera-Vet product range in the five continents.
Theravet takes off on the stock market as the doors to international markets finally open for the Belgian company. Veterinary biotech will be able to market its products internationally thanks to the signing of an exclusive distribution agreement with Vetpharma, a leading Spanish company in the marketing of veterinary products and services.
The title of the animal health company soars by nearly 60%, to 4.31 euros around 3:30 p.m., i.e. at levels more explored for a year.
TheraVet develops in particular targeted treatments to improve the quality of life of pets suffering from osteoarticular diseases. Thanks to the agreement signed with Vetpharma, the Belgian company will be able to distribute its range of bone substitutes, Biocera-Vet, for the treatment of osteoarticular pathologies in dogs, cats and horses in 24 countries based on five continents.
Biocera-Vet will thus be distributed in Scandinavia (Norway, Sweden, Denmark), Finland, Eastern Europe (Poland, Bulgaria, Romania, Czech Republic, Croatia and Hungary), Latin America (Brazil, Mexico, Colombia, Argentina, Chile and Peru), South Africa, Australia and some Asian countries (Japan, Indonesia, Philippines, Vietnam, Thailand and South Korea).
A potential market of 150 million dogs
The agreement is likely to cover a potential market of 150 million dogs from countries where “awareness of animal health needs is currently increasing and particularly in the Scandinavian countries, Australia, Japan, South Africa South and Brazil”. “Average growth in turnover of 13.1% is expected over the period 2022 to 2027 for the animal health market” indicates TheraVet in its press release.
In addition to Biocera-Vet, the company has developed Visco-Vet, a visco-regenerating gel, to fight against canine osteoarthritis, which it hopes to market by 2024. And this is to finance the development of its product lines in Europe but also in the United States, which TheraVet solicited the markets in June 2021, during its IPO. On this occasion, it raised 7.15 million euros on Euronext Growth Paris and Brussels.
Sabrina Sadgui – ©2023 BFM Bourse
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