AQUAVAC Vaccination Economics

Variables Outputs
Stock Rate per Acre: 100,000 Total Number of Fingerlings:
(Stock rate 70,000 - 300,000) 100,000 (stock rate per acre) x 14 (average size of ponds) x 30 (number of ponds stocked)

Average Size of Ponds (acres): 14 Number of Non-Vaccinated Fish Survived:

(Average pond size 3 - 20 acres) 60% (percent non-vaccinated survivability) x 42,000,000 (total number of fingerlings)

Number of Ponds Stocked: 30 Number of Vaccinated Fish Survived:

(The number of ponds 1 - 50) 60% (percent non-vaccinated survivability) + 10.% (% of vaccinated survivability) x 42,000,000 (total number of fingerlings)

Cost of Vaccine per Bottle: $365.00 Total Vaccination Cost:

(Cost of Vaccine $365 - $500) 42,000,000 (number of fingerlings) / 100,000 (doses per bottle) x $365. (vaccine cost)

Percentage of Non-Vaccinated Survivability: 60% Total Vaccination Cost per Million Live Fry:
(% of non-vaccinated survivability 40% - 80%) $153,300. (total vaccination cost) / 29.4 (million fingerlings survived)

Percentage of Vaccinated Survivability: 10% Amount of Feed Necessary (Non-Vaccinated):

(% of vaccinated-additional survivability 5% - 30%) 25,200,000 (# of non-vaccinated fish survived) / 1000 x 35.6 (lbs of food per 1000 fish) x 2.53 (feed conversion rate) / 2000 (pounds per ton)

Feed Cost per Ton: $280.00 Amount of Feed Necessary (Vaccinated):

(Feed cost per ton $150 - $500) 29,400,000 (# of vaccinated fish survived) / 1000 x 58.6 (lbs of food per 1000 fish) x 2.46 (feed conversion rate) / 2000 (pounds per ton)

Size of Non-Vaccinated Fish at Selling Time (inches): 5 Total Feed Cost (Non-Vaccinated):
(Size of Non-vaccinated fish 4.0" - 8.0") 1,134.8568 (amount of feed necessary for non-vaccinated fish) x $280. (feed cost per ton)

Size of Vaccinated Fish at Selling Time (inches): 6 Total Feed Cost (Vaccinated):
(Size of vaccinated fish 5.0" - 9.0") 2,119.0932 (amount of feed necessary for vaccinated fish) x $280. (feed cost per ton)

Selling Price per Inch (Non-Vaccinated): $0.01 Gross Sales (Non-Vaccinated):

(Selling price $0.005 - $0.02 per inch) 25,200,000. (# of non-vaccinated fish survived) x 5. (size of non-vaccinated fish) x $0.01 (non-vaccinated selling price per inch)

Selling Price per Inch (Vaccinated): $0.015 Gross Sales (Vaccinated):

(Selling price $0.005 - $0.02 per inch) 29,400,000. (# of vaccinated fish survived) x 6. (size of vaccinated fish) x $0.015 (vaccinated selling price per inch)

Feed Conversion Rate (Non-Vaccinated): 2.5 Net Sales (Non-Vaccinated):

(Feed conversion rate 1.1 - 3.0) $1,260,000 (gross sales of non-vaccinated) - 0 (total cost of vaccine) - $317,760 (total feed cost of non-vaccinated)

Feed Conversion Rate (Vaccinated): 2.5 Net Sales (Vaccinated):

(Feed conversion rate 1.1 - 3.0) $2,646,000 (gross sales of vaccinated) - $153,300 (total cost of vaccine) - $593,346 (total feed cost of vaccinated)

Net Profit (Vaccinated vs. Non-Vaccinated):

Net Profit: $957,114 $1,899,354 (net sales of vaccinated) - $942,240 (net sales of non-vaccinated)

Net Profit per Acre:

Net Profit (per acre): $2,279 $957,114 (net profit) / 30 (number of ponds) / 14 (average size of ponds in acres)

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C Vaccination Economics
Outputs
42,000,000

25,200,000

29,400,000

$153,300

$5,214

1,134.8568

2,119.0932

$317,760

$593,346

$1,260,000

$2,646,000

$942,240

$1,899,354

$957,114

$2,279

you by Intervet & AQUACENTER

 AQUAVAC Vaccination Economics (After Outbre
Variables Ou
Stock Rate per Acre: 100,000 Total Number of Fingerlings:
(Stock rate 70,000 - 300,000) 100,000 (stock rate per acre) x 14 (average size of ponds) x 30 (number of

Average Size of Ponds (acres): 14 Number of Non-Vaccinated Fish Survived:

(Average pond size 3 - 20 acres) 60% (percent non-vaccinated survivability) x 42,000,000 (total number of fin

Number of Ponds Stocked: 30 Number of Vaccinated Fish Survived:

(The number of ponds 1 - 50) 60% (percent non-vaccinated survivability) + 10.% (% of vaccinated survivab

Cost of Vaccine per Bottle: $365.00 Number of Non-Vaccinated Fish Survived after Outbreak w/o Treatment:
(Cost of Vaccine $365 - $500) 30% (percent survivability w/o treatment after outbreak) x 25,200,000 (total n

Percentage of Non-Vaccinated Survivability: 60% Total Vaccination Cost:

(% of non-vaccinated survivability 40% - 80%) 42,000,000 (number of fingerlings) / 100,000 (doses per bottle) x $365. (va

Percentage Survivability after Outbreak (w/o Treatment): 30% Total Vaccination Cost per Million Live Fry:
(% survivability after outbreak w/o treatment 30% - 60%) $153,300. (total vaccination cost) / 29.4 (million fingerlings survived)

Percentage of Vaccinated Survivability: 10% Amount of Feed Necessary (Non-Vaccinated):

(% of vaccinated-additional survivability 5% - 30%) 7,560,000 (# of non-vaccinated fish survived) / 1000 x 35.6 (lbs of food per 1

Feed Cost per Ton: $280.00 Amount of Feed Necessary (Vaccinated):

(Feed cost per ton $150 - $500) 29,400,000 (# of vaccinated fish survived) / 1000 x 58.6 (lbs of food per 1000

Size of Non-Vaccinated Fish at Selling Time (inches): 5 Total Feed Cost (Non-Vaccinated):
(Size of Non-vaccinated fish 4.0" - 8.0") 340.45704 (amount of feed necessary for non-vaccinated fish) x $280. (feed

Size of Vaccinated Fish at Selling Time (inches): 6 Total Feed Cost (Vaccinated):
(Size of vaccinated fish 5.0" - 9.0") 2,119.0932 (amount of feed necessary for vaccinated fish) x $280. (feed cost

Selling Price per Inch (Non-Vaccinated): $0.01 Gross Sales (Non-Vaccinated):

(Selling price $0.005 - $0.02 per inch) 7,560,000. (# of non-vaccinated fish survived) x 5. (size of non-vaccinated fis

Selling Price per Inch (Vaccinated): $0.015 Gross Sales (Vaccinated):

(Selling price $0.005 - $0.02 per inch) 29,400,000. (# of vaccinated fish survived) x 6. (size of vaccinated fish) x $0

Feed Conversion Rate (Non-Vaccinated): 2.5 Net Sales (Non-Vaccinated):

(Feed conversion rate 1.1 - 3.0) $378,000 (gross sales of non-vaccinated) - 0 (total cost of vaccine) - $95,32

Feed Conversion Rate (Vaccinated): 2.5 Net Sales (Vaccinated):

(Feed conversion rate 1.1 - 3.0) $2,646,000 (gross sales of vaccinated) - $153,300 (total cost of vaccine) - $

Net Profit (Vaccinated vs. Non-Vaccinated):

Net Profit: $1,616,682 $1,899,354 (net sales of vaccinated) - $282,672 (net sales of non-vaccinated

Net Profit per Acre:

Net Profit (per acre): $3,849 $1,616,682 (net profit) / 30 (number of ponds) / 14 (average size of ponds i

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n Economics (After Outbreak)
Outputs
: 42,000,000
x 14 (average size of ponds) x 30 (number of ponds stocked)

Fish Survived: 25,200,000

d survivability) x 42,000,000 (total number of fingerlings)

Survived: 29,400,000
d survivability) + 10.% (% of vaccinated survivability) x 42,000,000 (total number of fingerlings)

Fish Survived after Outbreak w/o Treatment: 7,560,000

o treatment after outbreak) x 25,200,000 (total number of non-vaccinated fish survived)

$153,300
ings) / 100,000 (doses per bottle) x $365. (vaccine cost)

Million Live Fry: $5,214

ost) / 29.4 (million fingerlings survived)

(Non-Vaccinated): 340.45704
ed fish survived) / 1000 x 35.6 (lbs of food per 1000 fish) x 2.53 (feed conversion rate) / 2000 (pounds per ton)

(Vaccinated): 2,119.0932
sh survived) / 1000 x 58.6 (lbs of food per 1000 fish) x 2.46 (feed conversion rate) / 2000 (pounds per ton)

nated): $95,328
ecessary for non-vaccinated fish) x $280. (feed cost per ton)

d): $593,346
ecessary for vaccinated fish) x $280. (feed cost per ton)

d): $378,000
ed fish survived) x 5. (size of non-vaccinated fish) x $0.01 (non-vaccinated selling price per inch)

$2,646,000
fish survived) x 6. (size of vaccinated fish) x $0.015 (vaccinated selling price per inch)

$282,672

$1,899,354
ccinated) - $153,300 (total cost of vaccine) - $593,346 (total feed cost of vaccinated)

on-Vaccinated): $1,616,682
inated) - $282,672 (net sales of non-vaccinated)

$3,849
(number of ponds) / 14 (average size of ponds in acres)

y Intervet & AQUACENTER

 Medicated Feed Economics
Variables
Stock Rate per Acre: 100,000 Total Number of Fingerlings:
(Stock rate 70,000 - 300,000) 100,000 (stock rate per acre) x 14 (average size of ponds) x 30 (number of pon

Average Size of Ponds (acres): 14 Number of Non-Vaccinated Fish Survived:

(Average pond size 3 - 20 acres) 60% (percent non-vaccinated survivability) x 42,000,000 (total number of fingerl

Number of Ponds Stocked: 30 Number of Non-Vaccinated Fish Survived after Outbreak w/o Treatment:
(The number of ponds 1 - 50) 30% (percent survivability after outbreak) x 25,200,000 (total number of non-vac

Percent of Non-Vaccinated Survivability: 60% Number of Non-Vaccinated Fish Survived after Outbreak & Treatment:
(% of non-vaccinated survivability 40% - 80%) 80% (percent survivability after outbreak) x 25,200,000 (total number of non-vac

Percent Survivability after Outbreak (w/o treatment): 30% Amount of Non-Medicated Feed Necessary (Non-Medicated Fish):
(% of survivability after outbreak w/o treatment 30% - 60%) 7,560,000 (# of non-vaccinated, non-medicated, fish survived) / 1000 x 35.6 (lbs

Percent Survivability after Outbreak & Treatment: 80% Amount of Non-Medicated Feed Necessary (Medicated Fish):
(% of survivability after outbreak & treatment 40% - 80%) 20,160,000 (# of non-vaccinated fish survived) / 1000 x 35.6 (lbs of food per 100

Medicated Feed Cost per Ton: $700.00 Amount of Medicated Feed Necessary (over a 10 day feeding regiment) per 10
(Medicated feed cost per ton $600 - $800) 19.1 (lbs of food per 1000 fish) x 2% (% of bodyweight) x 10 (# of days in feedin

Non-Medicated Feed Cost per Ton: $280.00 Total Amount of Medicated Feed Necessary:
(Feed cost per ton $150 - $500) 25,200,000 (# of non-vaccinated fish survived) / 1000 x 3.82 (amount of medicat

Size of Non-Vaccinated Fish at Selling Time (inches): 5 Total Cost of Non-Medicated Feed (Non-Medicated Fish):
(Size of Non-vaccinated fish 4.0" - 8.0") 340.45704 (amount of feed necessary for non-vaccinated fish) x $280. (feed cos

Selling Price per Inch (Non-Vaccinated): $0.01 Total Cost of Medicated Feed:
(Selling price $0.005 - $0.02 per inch) 48.132 (amount of feed necessary for non-vaccinated fish) x $700. (feed cost pe

Size of Fish at Outbreak of ESC 4 Total Cost of Non-Medicated Feed (Medicated Fish):
(Size of Fish at Outbreak 2.0" - 6.0") 907.88544 (amount of feed necessary for non-vaccinated fish) x $280. (feed cos

Feed Conversion Rate (Non-Vaccinated): 2.5 Gross Sales (Non-Medicated):

(Feed conversion rate 1.1 - 3.0) 7,560,000. (# of non-vaccinated, non-medicated, fish survived) x 5. (size of non-

Gross Sales (Medicated):

20,160,000. (# of non-vaccinated fish survived) x 5. (size of non-vaccinated fish)

Net Sales (Non-Medicated):

Net Profit: $378,000 (gross sales of non-vaccinated) - $95,328 (total cost of non-medicated

$437,427.65 Net Sales (Medicated):

$1,008,000 (gross sales of non-vaccinated) - $33,692 (total cost of medicated fe

Net Profit (Medicated vs. Non-Medicated):

$720,100 (net sales of medicated) - $282,672 (net sales of non-vaccinated)

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d Feed Economics
Outputs
42,000,000
ge size of ponds) x 30 (number of ponds stocked)

d: 25,200,000
) x 42,000,000 (total number of fingerlings)

d after Outbreak w/o Treatment: 7,560,000

x 25,200,000 (total number of non-vaccinated fish survived)

d after Outbreak & Treatment: 20,160,000

x 25,200,000 (total number of non-vaccinated fish survived)

ary (Non-Medicated Fish): 340.45704

cated, fish survived) / 1000 x 35.6 (lbs of food per 1000 fish) x 2.53 (feed conversion rate) / 2000 (pounds per ton)

ary (Medicated Fish): 907.88544

ved) / 1000 x 35.6 (lbs of food per 1000 fish) x 2.53 (feed conversion rate) / 2000 (pounds per ton)

over a 10 day feeding regiment) per 1000 Fish: 3.82

of bodyweight) x 10 (# of days in feeding regiment)

sary: 48.132
ved) / 1000 x 3.82 (amount of medicated feed per 1000 fish) / 2000 (pounds per ton)

Medicated Fish): $95,327.97

non-vaccinated fish) x $280. (feed cost per ton)

$33,692.40
vaccinated fish) x $700. (feed cost per ton)

cated Fish): $254,207.92

non-vaccinated fish) x $280. (feed cost per ton)

$378,000.00
cated, fish survived) x 5. (size of non-vaccinated fish) x $0.01 (non-vaccinated selling price per inch)

$1,008,000.00
ved) x 5. (size of non-vaccinated fish) x $0.01 (non-vaccinated selling price per inch)

$282,672.03
- $95,328 (total cost of non-medicated feed)

$720,099.68
) - $33,692 (total cost of medicated feed) - $254,208 (total cost of non-medicated feed)

): $437,427.65
,672 (net sales of non-vaccinated)

y Intervet & AQUACENTER

 Comparative Analysis (after an Outbreak)
AQUAVAC
Total Number of Fingerlings: 42,000,000
Number of Non-Vaccinated / Non-Medicated Fish Survived: 7,560,000
Number of Vaccinated / Medicated Fish Survived: 29,400,000
Size at Time of Sale: 6
Selling Price: $0.015
Amount of Feed Necessary: 2119.0932
Total Feed Cost: $593,346.10
Vaccination Cost: $153,300.00
Medicated Feed Cost: N/A
Gross Sales: $2,646,000.00
Net Sales: $1,899,353.90
Net Profit: $1,616,681.88
Net Profit per Acre: $3,849.24

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Net Profit (AQUAVAC): $1,616,681.88

Net Profit (Medicated): $437,427.65

reak)
Medicated Feed
42,000,000
7,560,000
20,160,000
5
$0.01
907.88544
$254,207.92
N/A
$33,692.40
$1,008,000.00
$720,099.68
$437,427.65
$1,041.49

NTER

$1,616,681.88 ← Higher Profit

$437,427.65 ← Higher Profit