Payment of contingent DermaPet consideration

RNS Number : 3776S

Dechra Pharmaceuticals PLC

30 November 2012

 



Friday 30^th November 2012

Dechra^® Pharmaceuticals PLC

("Dechra" or "the Company") 

Payment of US$15 million contingent DermaPet^® consideration

The Company announces that, pursuant to the terms of the DermaPet Purchase Acquisition Agreement dated 22 October 2010 (the "Agreement"), a payment in the sum of US$15 million (£9.4 million) has been paid to the vendors.  The payment was triggered by the rolling 12 monthly revenue from the sale of DermaPet products exceeding US$15 million in October 2012.   The achievement of this target, ahead of Company expectations, demonstrates the success of the acquisition.

The payment was made in cash from existing facilities.

In line with the Agreement a further payment of US$5 million will become due if, at any time in the next four years, the rolling 12 monthly revenue exceeds US$20 million.

Further enquiries:

Ian Page, Chief Executive

00 44 1782 771100

About Dechra

Dechra is an international veterinary pharmaceutical business.  Its expertise is in the development, manufacturing, distribution, sales and marketing of high quality products exclusively for veterinarians worldwide. Dechra's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products.  For more information please visit: www.dechra.com

Trademarks

Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC.

 

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