- Elanco Animal Health's (NYSE:ELAN) $440M deal for Kindred BioSciences (NASDAQ:KIN) could better position the company to compete against Zoetis (NYSE:ZTS) in the pet dermatology space, Barron's reports.
- Dermatology is a fast-growing pet care segment as evidenced by the $925M in revenue Zoetis earned in 2020 from that division alone, a more than $170M increase from the prior-year period.
- In the clinic, Kindred has tirnovetmab, an IL-31 antibody for atopic dermatitis in dogs. It also has two other antibodies in earlier stages of development for the same indication.
- Itch is the top reason for dog visits to the veterinarian.
- Kindred also has KIND-030 in the clinic for parvovirus, and an anti-TNF alpha antibody candidate in field pilot studies for inflammatory bowel disease, both in canines.
- Elanco shares are unchanged at $35.98, Kindred shares are down 0.2% to $9.21, and Zoetis shares are unchanged at $184.11 in after-hours trading.