Some of the most commercially significant opportunities in animal health are in categories that barely existed five years ago. But building a new therapeutic category is fundamentally different from launching a product into an established one. There are no existing treatment protocols, no established referral pathways, and often no clear regulatory template. This session will explore what it actually takes to build a category from scratch: the science, the regulatory strategy, the commercial model, and the investment thesis.

The US represents the world's largest and most dynamic animal health market, and we're seeing unprecedented investment and expansion from global leaders – from Dechra establishing its new global headquarters in Boston to Latin American companies expanding their North American footprint.

This panel will explore the strategic rationale behind these major moves: what makes the US market uniquely attractive, how global leaders navigate regulatory complexity and competitive dynamics, and what this wave of international investment signals about where the industry is heading.