Pet food business backs Virbac financials in 2025

Animal health company Virbac reported a 4.8% year-over-year (YoY) increase in revenue to €1.46 million ($1.6M) in fiscal year (FY) 2025. 

The result was “impacted by significant currency headwinds, particularly in Latin America, IMEA (India, Middle East and Africa) and the Pacific,” the company states. 

Excluding currency effects, revenue grew 8.7%. The acquisitions of Japan-based Sasaeah in April 2024 and Turkey-based Mopsan in December of the same year supported performance, contributing 0.8 and 0.6 percentage points (p.p.), respectively. 

In the fourth quarter of 2025, Virbac’s revenue reached €362 million ($391M), representing a 2.1% growth at actual rates.

Regional performance

North America posted the strongest growth, up 14.7% at Constant Exchange Rate and Scope (CERS), led by the companion animal segment (+24.2%). 

New product launches and “solid” results in dental, dermatology and specialty ranges drove gains, partially offset by a 33.5% drop in contract manufacturing due to delayed orders.

IMEA grew 9.5% at CERS, driven primarily by the farm animal segment (+10%), followed by pets (+6.9%). 

Europe and Latin America 

Europe and Latin America both increased by 7.5% at CERS. In Europe, the companion animal segment rose 7.8%, supported mainly by pet food, dermatology and reproduction ranges. 

In Latin America, the pet segment grew 13.3% at CERS, with Mexico (+19%) and Colombia (+23%) acting as key growth engines. 

East Asia recorded 3.3% growth at CERS. Most markets grew except for Vietnam, which was affected by the swine fever epidemic. The pet segment led the region with a 5.2% increase. 

The Pacific delivered a flat overall performance at +0.1% at CERS. Australia slipped 1.6% amid stronger competition and destocking by major distributors, though activity improved in the second half of the year. New Zealand closed FY2025 with 5.7% gain, supported by an expanded nutritional range and higher antibiotic sales.

Acquisitions

In December 2025, the firm acquired the brand Thyronorm, a specialty product to treat feline hyperthyroidism, a condition that affects more than 10% of older cats, the company says. The brand generates €15 million ($16.2M) in annual revenue.

Virbac will distribute directly in the UK, Australia, and NZ (under Thyronorm) and in the US (under Felanorm). In Europe, distribution will transition from partners (Boehringer Ingelheim, Elanco) to Virbac over the coming years.

Guidance

Virbac is forecasting revenue growth of 5.5% to 7.5% at Constant Exchange Rates and Scope (CERS) in 2026.

The company also expects the adjusted EBIT (Earnings Before Interest and Taxes) to revenue ratio to be around 17% at constant exchange rates.