Diamond Animal Health Will Manufacture New Heartworm Preventive Product
LOVELAND, Colo., March 13, 2012 /PRNewswire/ -- Heska Corporation ("Heska"; NASDAQ: HSKA), a provider of advanced veterinary diagnostic and other specialty veterinary products today announced Diamond Animal Health, Inc. ("Diamond"), a wholly-owned subsidiary of Heska, will manufacture PetTrust Plus™, a heartworm preventive product based on an existing FDA approved product. The product will be sold under an exclusive contractual agreement to FidoPharmBrands, LLC ("FidoPharm") in the United States. FidoPharm has received the initial shipment of PetTrust Plus™.
Diamond manufactures vaccine and pharmaceutical products for a number of animal health companies, all of which are marketed and sold by third parties under third-party labels. Diamond has over a fifty (50) year history of quality manufacturing for the animal health industry.
FidoPharm is responsible for all commercialization efforts. FidoPharm has the right to sell this product in retail pharmacies in the United States. A veterinarian's prescription is required for the purchase of PetTrust Plus™.
Heska Corporation (NASDAQ: HSKA) sells advanced veterinary diagnostic and other specialty veterinary products. Heska's state-of-the-art offerings to its customers include diagnostic instruments and supplies as well as single use, point-of-care tests, pharmaceuticals and vaccines. The Company's core focus is on the canine and feline markets where it strives to provide high value products and unparalleled customer support to veterinarians. For further information on Heska and its products, visit the company's website at www.heska.com.
This announcement contains forward-looking statements regarding Heska's future financial and operating results. These statements are based on current expectations and are subject to a number of risks and uncertainties. In addition, factors that could affect the business and financial results of Heska generally include the following: risks related to relying on a third party to sell and market a given product effectively; uncertainties regarding Heska and/or Diamond's ability to manufacture any given product to required specifications including for regulatory reasons; uncertainties related to the commercialization of a new product, in particular a new product sold in a novel manner such as PetTrust Plus™ is intended to be sold; uncertainties related to Heska's relationship with its customers and the reaction of such customers to any new product launch, in particular a product sold in a novel manner such as PetTrust Plus™ is intended to be sold; competition; and the risks set forth in Heska's filings and future filings with the Securities and Exchange Commission, including those set forth in Heska's Annual Report on Form 10-K for the year ended December 31, 2011.
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