Over the last couple of decades, the role of pets in our lives have changed.
By doing so, we believe that instead of the typical 5% to 10% success rate seen with new and unvalidated chemical entities in traditional drug development, we can achieve 50% to 70% success rate.
In addition, we develop most of our drugs and biologics for between $3 million to $5 million and in only 3 to 5 years. Given that most veterinary drugs reach peak sales between $10 million and $100 million per year, we believe that the return on investment is very attractive.
The companion animal biotech sector is where the human biotech sector was a generation ago. We believe that the pet pharmaceutical industry is poised to replicate the tremendous success seen in the human pharmaceutical industry over the last 25 years.
We are one of the pioneers in the pet biotech field, and we are fortunate to have one of the best teams and pipelines in the industry. Our goal is to continue to build on our leadership and transform veterinary medicine.