922814--3/31/2006--VIRBAC_CORP

related topics
{product, liability, claim}
{stock, price, operating}
{operation, international, foreign}
{regulation, government, change}
{competitive, industry, competition}
{cost, regulation, environmental}
{property, intellectual, protect}
{condition, economic, financial}
{operation, natural, condition}
{product, candidate, development}
{stock, price, share}
Risks Related to Virbac s Business Factors beyond the Company s control may cause its revenue to fluctuate, and since many of Virbac s expenses are fixed in the short term, this fluctuation could cause greater than expected losses, cash flow and liquidity shortfalls and the Company s stock price to decline. Virbac may be materially adversely affected by its dependency on third-party suppliers. The Company s future revenues depend on the research, development, commercialization and market acceptance of new products, any of which can be slower than expected. Virbac may not be able to successfully compete or be profitable in the business in which it operates. Virbac may be materially adversely affected by costly intellectual property disputes. Virbac may be materially adversely affected by the cost of obtaining and maintaining costly regulatory approvals that are required to market its products. The Company may be materially adversely affected if the FDA and the EPA decide to require FDA or EPA registered products to be produced in plants that produce only FDA or EPA registered products. Virbac may be materially adversely affected by product returns and product liability. Virbac may incur significant costs relating to the removal of hazardous materials and waste associated with its products and development programs. Virbac may be materially adversely affected by changes in veterinary medical practices. Virbac may be materially adversely affected by an economic downturn or economic uncertainty. Risks Related to Virbac s Relationship with VBSA Virbac may be materially adversely affected by a decrease in financial support that it receives from VBSA. Risks Related to the Ownership of Common Stock and the Securities Markets VBSA controls any vote of shareholders of the Company.

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