OFSA3

Ourofino S.A., known in the market as Ourofino Saúde Animal, is a Brazilian company dedicated to the animal health sector, with common shares traded on B3 under the ticker OFSA3. The economic group originated in 1987, founded by Norival Bonamichi and Jardel Massari, with an initial focus on manufacturing veterinary products for production animals, especially cattle, horses, poultry, and swine. Throughout the 1990s, expansion occurred organically, supported mainly by the livestock product line. In 2000, the company began diversifying by entering the companion animal products market, covering dogs and cats, broadening both its portfolio scope and customer base. Between 2001 and 2004, the company invested in building an industrial and technology park in Cravinhos, in the state of São Paulo, to accommodate operational growth and incorporate more modern production and research infrastructure.

Ourofino Saúde Animal’s technological development reached an important milestone in 2007, with the start of investments in the biologics area, including the construction of a biosafe industrial plant for producing vaccines against foot-and-mouth disease. Biosafety certification from the Ministry of Agriculture and Livestock (MAPA) was obtained in 2008, allowing the receipt of viral seeds and the development of the vaccine, whose commercialization was authorized in 2010. In the same period, the company structured an industrial unit dedicated to hormonal therapeutic products, aiming to offer a complete protocol for fixed-time artificial insemination (FTAI), with in-house manufacturing beginning in 2008. In 2014, the company completed its initial public offering and began trading its shares on B3’s Novo Mercado segment, strengthening its corporate governance framework. From 2015 onward, it intensified its international strategy, strengthening its presence in Mexico and acquiring its local distributor in Colombia, consolidating a growth platform in Latin America.

Ourofino Saúde Animal’s business model is centered on the manufacture and commercialization of vaccines and veterinary products, with a focus on three main fronts: production animals, companion animals, and international operations. In the production animal segment, the company develops and sells vaccines and veterinary specialties for ruminants, poultry, swine, and horses, in addition to providing contract manufacturing services for third parties. This segment accounts for most of the net operating revenue, representing 72.1% of revenue in 2024, which highlights the company’s strong ties to agribusiness and the animal protein chain. In companion animals, the company manufactures and markets products for dogs and cats, including otologic, dermatological, nutritional, antibiotic, anti-inflammatory, analgesic, antiparasitic lines, rapid diagnostic kits, and disinfectants. International operations comprise the production and export of vaccines and veterinary products for both production animals and pets, with a presence in 14 countries and particular strategic relevance in Mexico and Colombia.

The company structures its operating segments based on the nature of its customers and the usage profile of its products. In production animals, it serves more than 3,900 active customers in Brazil, including agricultural retailers, cooperatives, agribusinesses, distributors, and large livestock producers, with a portfolio of 120 SKUs in 2024, including vaccines, antiparasitics, antibiotics, therapeutics, and nutritional products. In the companion animal segment, distribution is organized into 36 operating territories, reaching more than 30,000 points of sale in the country, with 102 SKUs of veterinary products for dogs and cats. Portfolio diversification includes recombinant vaccines and diagnostic solutions, such as the Conclue line of rapid tests for canine and feline diseases, as well as products like the Na Mosca insecticidal ear tag and the Ourovac Raiva rabies vaccine for herds. Revenue from international operations, which accounted for 12.6% of net operating revenue in 2024, complements the company’s positioning as a regional provider of animal health solutions.

Ourofino Saúde Animal’s geographic presence is anchored in the industrial park in Cravinhos, São Paulo, which concentrates biological and pharmaceutical product plants, including biotechnology, hormonal therapeutics, injectables, oral liquids, solids, creams, ointments, and animal protection products. The company operates a decentralized logistics network in Brazil, based on leased distribution centers in Vinhedo (SP), Cachoeirinha (RS), Aparecida de Goiânia (GO), Betim (MG), and Cuiabá (MT). These centers are supplied from the plant according to demand forecasts, which helps reduce delivery times, increase reach, and maintain service levels consistent with the national scope of its customers. In addition, the company keeps part of its inventory at its industrial plant as a strategic supply reserve, reinforcing its ability to respond to potential disruptions. Abroad, the strategy is focused on expanding into Latin American markets that are significant in animal protein production, with commercial and distribution emphasis particularly in Mexico and Colombia.

Research, development, and innovation are a core pillar of Ourofino Saúde Animal’s operations. The company maintains an RDI structure that integrates new business, open innovation, regulatory affairs, project management, research and development, and finance, with formal processes for ideation, prototyping, advanced development, preclinical studies, clinical trials, and product registration. The R&D team is composed of professionals from different backgrounds, such as pharmacists, veterinarians, chemists, biologists, and biotechnologists. The company adopts an open innovation model, partnering with universities, research centers, and domestic and international experts, and conducts studies in cattle and swine at an experimental farm located in Guatapará, also in the state of São Paulo. The managerial separation between research and development of pharmaceuticals and of biologics seeks to increase focus and performance in developing new solutions and improving existing formulations.

Ourofino Saúde Animal’s activities take place in a highly regulated environment. The manufacturing, quality control, commercialization, storage, import, and export of veterinary and animal feed products depend on registration and licenses from the Ministry of Agriculture and Livestock, through the Secretariat of Agricultural Defense. Industrial facilities and products must comply with Good Manufacturing Practices, biosafety regulations, hygiene, and occupational safety standards, with licenses renewed periodically. Veterinary products, including vaccines, are registered with MAPA’s Veterinary Products Registration Coordination, with defined expiration and renewal deadlines. The company is also subject to requirements from the Regional Council of Veterinary Medicine, including the need for a registered technical officer, and to regulations applicable to substances subject to special control, overseen by the Army, Federal Police, and Civil Police. Additionally, research activities involving genetically modified organisms must comply with the Biosafety Law and obtain authorization from CTNBio, under the supervision of the Internal Biosafety Commission, while the use of animals in research is monitored by ethics committees and the National Council for the Control of Animal Experimentation.

In terms of environmental, social, and governance practices, Ourofino Saúde Animal has begun to guide its strategy using materiality matrices and goals linked to the Sustainable Development Goals, maintaining its commitment to the United Nations Global Compact since 2019. The company has established a Sustainability Committee with members specialized in the topic, with the aim of integrating environmental, social, and governance considerations into business decisions and risk management. In recent years, it has also promoted adjustments in organizational culture, with corporate values that include performance focus, care for people, and connection with the external environment. The evolution of ESG initiatives, combined with the company’s relevance in the animal health market and the trading of OFSA3 shares on B3, places Ourofino Saúde Animal in a context of greater transparency, public scrutiny, and alignment with more formalized governance practices in the Brazilian capital market.