In-License Technology Agreeme

RNS Number : 5655P

Dechra Pharmaceuticals PLC

27 March 2009

 



Issued by Citigate Dewe Rogerson Ltd, Birmingham

Friday, 27 March 2009

Dechra® Pharmaceuticals PLC

('Dechra' or 'the Group')

In-license technology agreement

strengthens Dechra's veterinary pharmaceutical pipeline

Dechra Pharmaceuticals PLC announces that the Group has signed an agreement to in-license technology to develop a novel product for the international canine and feline veterinary pharmaceutical markets.

The Directors believe that the product, which has unique clinical advantages and complements our existing product range, represents an excellent future growth opportunity. It will be competing in a growing market that is currently estimated at US$30 million.

Under the terms of the license agreement, Dechra has agreed to pay an initial fee of €0.5 million (£460,000) with a further €100,000 payable upon technology transfer which is expected to take place later this calendar year.  Subsequently, there will be additional payments of €1.5 million per species upon submission of completed dossiers to the first of either the EU or USA regulatory authorities. A further €1.5 million per species will become payable upon full approval being received from either of the regulatory authorities. It is anticipated that dossiers will be filed in the 2012 calendar year.

The initial fee of €0.5 million will be expensed in the current financial year and the payment of €100,000 will be expensed in the 2010 financial year. It is expected that all remaining payments will be capitalised.

This project is one of the four novel projects outlined in the Group's recent half-yearly financial report as being at an advanced stage of internal approval.

Shareholders will be kept informed of progress.

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 771 100	Telephone: [phone]
Mobile: [phone] (IP)	Mobile: [phone] (KG)
Mobile: [phone] (SE)
[e-mail]
Ticker: Sector: Full Listing (Pharmaceuticals): DPH

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

 

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