Navigation Links
Maine Company/Startup Undaunted by Bear Market
Date:10/8/2008

Continues with Plans to Revolutionize the Veterinary Pharmaceutical

Industry

PORTLAND, Maine, Oct. 8 /PRNewswire/ -- Putney, Inc., a pharmaceutical company focused on the development of generic drugs for pets, reports that the current Bear market will not hamper its plans to roll out a line of pet specific generic pharmaceuticals.

"Pet owners are committed to their pet's welfare and want the same standard of care for their pets as they expect for their children and other family members. Increased availability of generic veterinary medications will enhance the ability of pet owners, who pay out of pocket, to provide their pets with the health care they need," says Jean Hoffman, founder and CEO of Putney, Inc.

Hoffman's comment refers to two studies. Business Week recently reported that purchasing related to domestic companion animals, currently at $41B annually, is the second largest growing category of consumer spending. In a survey by Fleischman Hillard International Communications, fifty per cent of respondents say that a recession would not affect their pet spending. Putney's own focus groups have revealed that veterinarians are open to new generics; especially alternatives to pricey, chronic treatments.

Hoffman, an entrepreneur whose last enterprise, Newport Strategies, sold to Thomson Corporation in 2004, founded Putney to make pet healthcare more affordable and accessible -- a need she recognized when caring for her own aging cats. "Pets are cherished family members, yet many, including older pets that need medicines for chronic conditions, are not receiving the full dosage of their veterinarian prescribed medicines due to the high costs of pet pharmaceuticals," she says. Most human pharma products have a generic equivalent available when the patent expires, while 86% of companion animal drugs still have no generic equivalent available years beyond patent expiration.

Hoffman also cites the recently passed Animal Generic Drug User Fee Act as more cause for celebration. The law, which was passed in August, will cut FDA review time for proposed new generic drugs for pets from over 700 days to just 270 days -- greatly increasing Putney's ability to bring its products to market quickly.

Putney plans for its first FDA approved veterinary products to roll out in 2009, with more following in 2010 and 2011. By 2012, the company expects to have annual revenues more than $150M.

Putney, Inc. is a pharmaceutical company focused on the development of generic drugs for pets. The company's goal is to offer high quality prescribing options to veterinarians so price will cease to effect treatment options. The company has what it believes to be the deepest pipeline in animal health. Learn more at http://www.putneyvet.com.


'/>"/>
SOURCE Putney, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Statement from Dr. Charmaine Yoest, Americans United for Life, on Palin Daughters Pregnancy
2. Senator Susan Collins Praised for Leading Successful Effort to Derail $4.3 Million Maine Medicare Cuts
3. Maine Community Pharmacy Owner Thanks Sen. Snowe for Supporting Inclusion of Common-Sense Reimbursement Provisions in Medicare Bill
4. New Maine Economic Study: Bush Medicare Cuts Undermine State and Local Economic, Jobs Base
5. Anthem Blue Cross and Blue Shield Introduces Transparency Initiative in Maine
6. Jermaine Dupri and Island Def Jam Music Group Launch New Hip-Hop Label in Partnership with TAG Body Sprays
7. Daniel Corcoran named President of Anthem Blue Cross and Blue Shield in Maine
8. Anthem Sponsors Healthy Kids Day at Maines YMCAs
9. Toms of Maine Helps Increase Access to Dental Care
10. Toms of Maine Introduces a Patent-Pending New Formula with the Launch of its Natural Clean & Gentle Care and Sensitive Care Toothpastes
11. Farm Bill Provision Will Disrupt MaineCare Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library ... City Observer , brings up a new, often overlooked aspect of head lice: the parasite’s ... for fumigation is not a common occurrence, but a necessary one in the event that ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... non-athletes recover from injury. Recently, he has implemented orthobiologic procedures as a method ... —Johnson is one of the first doctors to perform the treatment. Orthobiologics are ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Those who ... with these feelings, many turn to unhealthy avenues, such as drug or alcohol abuse, ... Marne, Michigan, has released tools for healthy coping following a traumatic event. , Trauma ...
(Date:6/24/2016)... ... 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 ... by their peers for this recognition are considered among the top 2 percent of ... honors as members of this year’s Legal Elite Hall of Fame: Miami Shareholders ...
(Date:6/24/2016)... ... 2016 , ... People across the U.S. are sharpening their pencils and honing ... contest in which patients and their families pay tribute to a genetic counselor by ... Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. , In ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... -- Dublin ... the " Global Markets for Spectroscopy Equipment" ... This report focuses on the global market ... its applications in various applications. The report deals with ... main industries: pharmaceutical and biotechnology, food and beverage, and ...
(Date:6/24/2016)... SAN CLEMENTE, Calif. , June 24, 2016  American ... function testing company, is now able to perform sophisticated lung assessments ... ndd Medical Technologies , Inc. Patients are no ...  Thanks to ndd,s EasyOne PRO ® , ARL patients like Jeanne ... needed testing done in the comfort of her own home. ...
(Date:6/24/2016)... , Belgium , June ... MKT: VNRX), today announced the appointment of Dr. ... of Directors as a Non-Executive Director, effective June ... Company,s Audit, Compensation and Nominations and Governance Committees.  ... Dr. Futcher will provide independent expertise and strategic ...
Breaking Medicine Technology: