Acquisition

RNS Number : 1260X

Dechra Pharmaceuticals PLC

01 December 2010

 



Issued by Citigate Dewe Rogerson Ltd, Birmingham

Date: Wednesday, 1 December 2010

Dechra^® Pharmaceuticals PLC

("Dechra" or "The Group")

Dechra adds to its product portfolio with UK acquisition

Dechra Pharmaceuticals PLC is pleased to announce that it has acquired the entire issued share capital of Genitrix Limited ("Genitrix") from its owner managers for an initial cash consideration of £5.4 million.  A further £0.8 million is payable upon achievement of specific milestones.  The consideration is being funded from Dechra's existing cash resources.

The acquisition of Genitrix, a veterinary pharmaceuticals company based in Billingshurst, UK, is consistent with our strategy to grow our international veterinary pharmaceutical business.  In the year ended 31 March 2010, Genitrix achieved revenues of £2.4 million.

Ian Page, Chief Executive of Dechra, commented:

"Genitrix range of equine and companion animal products enhances and complements our UK product portfolio.  Furthermore the recently approved canine epilepsy product, Libromide^®, provides future growth opportunities through potential mutual recognition in Europe.  The acquisition is expected to be earnings enhancing in the first full year following ownership."

Enquiries:
Ian Page, Chief Executive	Fiona Tooley, Director
Simon Evans, Group Finance Director	Keith Gabriel, Senior Account Manager
Dechra Pharmaceuticals PLC	Citigate Dewe Rogerson
Telephone: + 44 (0) 1782 771100	Telephone: [phone]
Mobile: [phone] (IP)	Mobile: [phone] (FT)
Mobile: [phone] (SE)
www.dechra.com	Ticker:  Full Listing (Pharmaceuticals): DPH

Trademarks

Trademarks appear throughout this document in italics.  Dechra and the Dechra 'D' logo are registered Trademarks of Dechra Pharmaceuticals PLC. 

Forward-Looking Statements

This document contains certain forward-looking statements.  The forward-looking statements reflect the knowledge and information available to the Company during the preparation and up to the publication of this document.  By their very nature, these statements depend upon circumstances and relate to events that may occur in the future thereby involving a degree of uncertainty.  Therefore, nothing in this document should be construed as a profit forecast by the Company.

 

END

 

 

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