The animal pharmaceutical industry (or “animal pharma”) develops and sells antibiotic drugs and other products used for food and companion animals. However, the use of antibiotics in agriculture is under increasing scrutiny from policymakers and consumers. How animal pharma responds in terms of developing and marketing veterinary products has ramifications for agricultural production and meat prices. This report analyzes trends in sales and development of veterinary antibiotics. Antibiotics sales for food-animal production in the United States and the European Union (EU) have shown declines, even as demand for food-animal products continues to increase. The number of veterinary drug and biological products brought through regulatory approval in the United States also declined between 1989 and 2015, and antibiotics for food-animal production account for a decreasing share of new drug approvals.