Pets, Pesticides and Drugs: The Federal Trade Commission Focuses on Companion Pet Pharmaceutical Distribution Issues
The companion pet industry was worth an estimated $50 billion in 2011, including nearly $7 billion that was spent solely on pet medications. Concerns regarding trade restriction, consumer choice, confusing product categories, as well as the safety, accuracy, and efficacy of pet medications recently forced the Federal Trade Commission (FTC) to hold a one-day workshop that brought together veterinarians, pharmaceutical manufacturers, distributors, retailers and other concerned parties to discuss the current and future pet product distribution landscape. The current solution to address these concerns is the Fairness to Pet Owners Act (H.R. 1406), which directs the FTC to promulgate rules that carry out the bill’s provisions. Major players in the pet medication industry are lining up on both sides of this issue. In addition to the workshop, the FTC is interested in the public’s opinion, so it extended the comment period until November 1, 2012.
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