Cheshire veterinary drugs firm sees 24% increase in profits

Ian Page, chief executive, Dechra Pharmaceuticals

Cheshire veterinary products firm Dechra saw its underlying profits increase by almost a quarter to £99.2m.

The Northwich firm which acquired AST Farma and Le Vet in the Netherlands and RxVet in New Zealand has issued its preliminary results for the year.

Dechra had revenue growth of 13.9% to £407.1m and underlying operating profit increased by 24.% to £99.2 million.

Dechra is an international specialist veterinary pharmaceuticals and related products business.
Chief executive Ian Page said: “Dechra has delivered another successful year from both a financial and strategic perspective.

“The veterinary market is seeing faster change than at any time in its history. European practice corporate consolidation is increasing, especially in the UK and some Northern European countries.

“ A recent significant move is the leading USA company taking a small presence in the UK and a significant presence in mainland Europe.

“Furthermore, veterinary distributors who operate in the majority of major countries in Western Europe and North America are changing and are beginning to increase focus on the sales and marketing of their own products, which is often in conflict with their core historic suppliers.

“We are also seeing ongoing consolidation of distributors, especially within the USA.

The board of Dechra believes that we are well positioned to support the needs of the larger veterinary practice groups alongside independent practices and that we also have the flexibility to respond quickly  to any ongoing changes within the distribution network.”
The highlights of the last 12 months included

• The European (EU) Pharmaceuticals Segment has continued to deliver above market growth;

• The North American (NA) Pharmaceuticals Segment has delivered another exceptional performance;

• The International business is beginning to gain traction;

• The pipeline has delivered numerous international registrations;

• Licensing deals have been signed or are in negotiation to strengthen our pipeline of novel, innovative products.

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