Putney’s Hoffman Speaks at World Animal Health Congress 2011
Date: December 5, 2011
Conference session reflects industry’s growing interest in generics
Portland, ME—December 5, 2011—Jean Hoffman, president and CEO of Putney, Inc., a rapidly growing pet pharmaceutical company focused on the development and sale of generic prescription medicines for pets, has been invited to speak as an expert in generic animal pharmaceuticals at the World Animal Health Congress 2011. In her session, entitled “Modeling animal generics after the human pharmaceutical market,” Hoffman will examine the opportunities and challenges pharmaceutical companies face in the veterinary generics market. Hoffman will also participate in the panel session “The challenges of expanding the animal generics market.”
The two sessions reflect the animal health industry’s growing interest in the challenges of developing generic veterinary drugs. Hoffman says the adoption rates of generics in the human pharmaceutical market—where 78% of all prescriptions are filled by a generic— is a good predictor of how many consumers will use generics for their pets as they become available. “Veterinary generics are an untapped niche market that both pet owners and veterinarians are eager for. The barriers to entry for veterinary generics are higher than those for human generics and veterinary focused sales and marketing are essential to success in the veterinary pharmaceutical market,” says Hoffman.
Hoffman is uniquely qualified to compare and contrast the animal and human generic markets, combining her over twenty years in human generic pharmaceuticals with Putney’s recent penetration in the animal generics market. Since Hoffman founded Putney in 2006, the company has launched two FDA-approved animal generics and has over twenty companion animal generic drugs under development. After receiving $21 million in outside investment, Hoffman expects Putney’s growth of the pet generic market to revolutionize the industry.
The World Animal Health Congress 2011 will be held at the InterContinental Hotel in Kansas City, Missouri, December 6-8, 2011.
About Putney
Putney is a pharmaceutical company committed to providing high quality, cost-effective generic medicines for pets. Putney’s reliable supply of affordable drug options empowers veterinarians, allowing them to provide the best possible medicine at the best possible price, and supports pet owners, helping them afford to comply with veterinary recommendations. Putney’s ongoing investment in research and development is focused on creating the next generation of generic veterinary products based on inputs from companion animal veterinarians and its industry partners. Learn more at www.putneyvet.com.