Animal Ethics is now receiving a significant boost: an $18.2 million investment from UK-listed Dechra Pharmaceuticals PLC.
Dechra will take a 33% stake in Animal Ethics; and has also acquired a global license agreementAustralian Research Company Animal Ethics Secures UK investment partner.to sell Tri-Solfen internationally (excluding the Australian and New Zealand markets). Click here to read more!
Tri-Solfen was developed by Animal Ethics in 2004 for treating lambs after mulesing, the operation to reduce fly strike in sheep, by cutting away folds of skin from the breach area.
Tri-Solfen contains two topical local anaesthetic agents (Lignocaine and Bupivicaine) to numb the wound; a vasoconstrictor (Adrenalin) to minimize bleeding; and an antispetic agent (Cetramide) to prevent infection of the wound. These actives are contained in a thick gel base which is designed in a spray & stay agent that adheres onto the surface of the wound.
In December 2016, Tri-Solfen was approved to be used on calves after marking, and according to Animal Ethics, it is now used on 8 million farm animals a year.
It is expected it will also be extended for use on piglets.
The global annualised sales from Tri-Solfen amount to $4 million a year, with Dechra expecting that with approval for use on multiple livestock species, the “conservative estimate is around $350 million a year.”
“However, with the increasing focus on the ethical treatment of farm animals, this target could be exceeded,” said Dechra in a statement.
Pain relief is credited with taking the heat out of the international wool boycotts over mulesing.
“The EU and US pig and cattle industries are now facing similar conflicts from welfare advocacy groups, consumer groups and retailers with the consequential legislative pressure to ban procedures without the use of anaesthetic,” Dechra says.
The 2016 Animal Pharm Awards judging panel said that Tri-Solfen has the potential to be a game-changer worldwide – it is the only topical anesthetic and antiseptic pain relief product approved for livestock anywhere in the world.