Zoetis' osteoarthritis drug for dogs expected to deliver significant benefits in 2024, analyst says
On Friday, the FDA approved Zoetis Inc's ZTS Librela (bedinvetmab) for the control of pain associated with osteoarthritis (OA) in dogs.
Librela is the first and only once-a-month anti-NGF monoclonal antibody treatment for canine osteoarthritis pain.
It is approved as safe and effective for the long-term control of painful symptoms of osteoarthritis in dogs.
The approval is in line with management's expectation for approval in the first half of 2023 and should allow management to provide preliminary comments on the product launch at its Investor Day of May 25, 2023.
William Blair writes that the January 2023 veterinary survey indicates strong market demand for Librela in the United States, with nearly half of respondents indicating they were "very likely" to try Librela within three months of launch and 75% at least "somewhat likely" to try Librela within the first three months of launch.
Furthermore, the FDA estimates that at least 25% of dogs will be affected by osteoarthritis in their lifetime, which reinforces market opportunities for the new therapy.
Zoetis plans a controlled Librela launch to lay the groundwork for future support, so analyst expects a gradual ramp-up throughout the year with benefits more significant in 2024.
Price Action: ZTS shares are down 1.20% at $184.00 when last checked on Monday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
On Friday, the FDA approved Zoetis Inc's ZTS Librela (bedinvetmab) for the control of pain associated with osteoarthritis (OA) in dogs.
Librela is the first and only once-a-month anti-NGF monoclonal antibody treatment for canine osteoarthritis pain.
It is approved as safe and effective for the long-term control of painful symptoms of osteoarthritis in dogs.
The approval is in line with management's expectation for approval in the first half of 2023 and should allow management to provide preliminary comments on the product launch at its Investor Day of May 25, 2023.
William Blair writes that the January 2023 veterinary survey indicates strong market demand for Librela in the United States, with nearly half of respondents indicating they were "very likely" to try Librela within three months of launch and 75% at least "somewhat likely" to try Librela within the first three months of launch.
Furthermore, the FDA estimates that at least 25% of dogs will be affected by osteoarthritis in their lifetime, which reinforces market opportunities for the new therapy.
Zoetis plans a controlled Librela launch to lay the groundwork for future support, so analyst expects a gradual ramp-up throughout the year with benefits more significant in 2024.
Price Action: ZTS shares are down 1.20% at $184.00 when last checked on Monday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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