Animal health company Virbac recorded a revenue of 1,465 million euros in 2025, up by 7.9% on a like-for-like and constant exchange rate basis, according to the press release issued this Tuesday.
The group achieved a consolidated revenue of 1,465 million euros for the fiscal year 2025, compared to 1,397 million euros the previous year, the company reports. This performance represents an organic growth of 7.9% on a like-for-like and constant exchange rate basis. At actual rates, the increase was 4.8%, affected by unfavorable exchange rate effects. The pet segment grew by 10.9%, the press release specifies. In the fourth quarter, revenue reached 362 million euros, up 7.1% on a like-for-like and constant exchange rate basis compared to the same period in 2024. The acquisition of Sasaeah in Japan in April 2024 contributed 0.8 percentage points to the annual growth, according to the group. Europe, the IMEA region, and the Pacific were the main contributors to the performance in the last quarter.
Recent Acquisition and Product Launch
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Virbac has recently acquired Thyronorm, a product for the treatment of feline hyperthyroidism, the press release indicates. This specialty drug generates about 15 million euros in annual revenue and targets a condition that affects more than 10% of older cats, according to the company. The group will handle direct distribution in the United Kingdom, Australia, and New Zealand under the name Thyronorm, and in the United States under the name Felanorm, the document specifies. In Europe, distribution will gradually shift from current partners Boehringer Ingelheim and Elanco to Virbac over the next few years. This operation is expected to be accretive to sales and EBITDA margin from the first year, the group claims.
Outlook for 2026
For the fiscal year 2026, Virbac anticipates that the acquisition of Thyronorm will contribute approximately 1 percentage point to revenue growth and 0.5 point to adjusted operating income, according to the press release. The company has included this operation in its organic scope for 2026 due to its materiality level, in accordance with its reporting standards. The group has also considered in its outlook the impact of U.S. tariffs, which it estimates at about 4 million dollars over a full year. Virbac reports having invested a record level in research and development as well as in its industrial sites during the fiscal year 2025, including the launch of Vikaly, presented as the world's first medicated pet food.
SectorPharmacie et biotechnologies›Pharmacie, vaccins et santé animale
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 1 168 millions d'euros
Quarterly revenue: 1 168 millions d'euros
Guidance from the release
Notre solide performance à fin septembre 2026 nous permet de viser le haut de notre fourchette initiale de croissance du chiffre d'affaires
Risks mentioned
Effets de change défavorables impactant la croissance réelle (croissance réelle +5,9% vs +7,9% à taux constants)
Pression concurrentielle persistante sur les vaccins porcins en Asie de l'Est et pressions tarifaires au segment Animaux d'élevage
Exposition au Moyen-Orient et suivi des tendances inflationnistes (énergie) malgré anticipation d'impacts limités
Opportunities identified
Croissance soutenue des plateformes Supercharge (+11% environ) couvrant petfood, reproduction, dentaire, mobilité, otologie, endocrinologie et ruminants
Intégration fluide de Thyronorm dans la franchise d'endocrinologie avec contribution de +1 point de croissance et +0,5 point d'Ebit ajusté
Redémarrage réussi de la production du contrat majeur de façonnage en Amérique du Nord (juillet 2026) après contrainte réglementaire temporaire
Outlook / guidance
Expected revenue: 1 575 millions d'euros
Management commentary: « Bien que nos perspectives pour l'ensemble de l'année 2026 restent inchangées, notre solide performance à fin septembre (croissance de +7,9%) nous permet de viser la borne haute de notre fourchette de croissance du chiffre d'affaires de 5,5 % à 7,5 % à PCC »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
