LONDON (Alliance News) - Pest control company TyraTech Inc on Wednesday reported progress on all 2018 operational goals including products controlling parasites in production animals.
The company's poultry mite unit sales grew fivefold year on year and it is now expanding into Europe where the market is estimated at USD40 million. The company is set to launch the mite product in Germany and France by the end of 2018.
Two independent studies on poultry coccidosis, a parasite costing an estimated USD2 billion worldwide to the poultry industry, proved TyraTech's formulations showed up to 98% reduction of the parasites, the company said. In a further study the company proved their formulation can reduce the severity of lesions to chickens.
TyraTech said sales of equine fly repellent to partner company SmartPak were up "sharply" in the first part of 2018 over the same period in 2017. However, despite the year's strong start, due to the bad weather the company does not expect a strong fly season.
In the control of intestinal and stomach worms in ruminants studies showed that in pigs TyraTech's formulation reduced intestinal worms up to 70%.
TyraTech said it looks to continue studies to assess the efficacy of its products and move forward phases of product development.
TyraTech shares traded higher 6.1% at 2.44 pence.
