Vet supplies firm increases stake in Australian partner

Cheshire veterinary products maker Dechra Pharmaceuticals has paid £8m for a further 15% stake in Medical Ethics, the parent company of Animal Ethics.

Northwich-based Dechra announced the deal this morning, which will mean it now holds 48% of the issued share capital of Medical Ethics, an Australian company focused on developing ethical pain relief products for animals.

Since Dechra’s initial investment was made, Medical Ethics has, through its subsidiary Animal Ethics, progressed the registration process for Tri-Solfen, a pain relief product for use in farm animals.

Once approved for major markets, Tri-Solfen should significantly strengthen Dechra’s FAP (food producing animal products) portfolio, further its geographical expansion strategy and enhance its reputation of providing clinically necessary, high quality, ethical veterinary pharmaceuticals.

Following recent trials in South East Asia, Tri-Solfen has also been found to be a highly effective therapy for the recovery of cattle suffering from foot and mouth disease, resulting in improved body weight and production in affected cattle.

Phase two clinical trials for the application of venous leg ulcers in humans are also progressing well, the company revealed today.

Dechra said its board believes that the value of the initial investment of £11.1m in March 2017 to acquire 33% of the issued share capital of the company has increased significantly.

Chief executive Ian Page said: “We are delighted to have increased our shareholding in Medical Ethics, this investment will allow the founding shareholders to continue to commit themselves to the business throughout the next few years during its important development of both human and veterinary medicines.”