Virbac - A promising start to the year
Nearly 10% organic sales growth in Q1, ahead of our forecastsAll regions up at constant exchange ratesVisibility improving for the rest of the year, and annual guidance logically confirmedWe remain at Add, with a slightly higher target price of €375/share (vs. €365 previously).Virbac is an independent veterinary pharmaceutical laboratory. Co. develops and provides veterinarians and farmers with medicines and vaccines that improve the health of food producing animals. Co. markets a range of products designed for pets and livestock. It offers seven types of products for companion animals (Parasiticides, Immunology, Antibiotics/dermatology, Specialties, Equine, Specialized pet food and Other products), and four types of products for food producing animals (Bovine parasiticides, Bovine products (excluding parasiticides), Pig/poultry antibiotics and Other products). Co. markets its products in the ethical (veterinarian) and OTC markets.
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