Products and acquisitions boost Dechra Pharmaceuticals

VETERINARY products supplier Dechra Pharmaceuticals has seen annual revenue and profits increase following a successful year underpinned by growth.

Part of the growth has been down to a series of strategic acquisitions and the launch of new products.

The annual results show full year revenue increasing 9.5% to £426m (2011: £389.2m), with underlying operating profit up 15% at £36.6m (2011: £31.8m).

In tandem with the full-year results, the company also announced today that it had secured a major new licensing agreement.

Dechra said it had entered into an exclusive license agreement with Scynexis Inc. for the development and commercialisation of SCY 641, used for the treatment of canine keratoconjunctivitis sicca (KCS), a common eye ailment in dogs. 

Commenting on the partnership, Ian Page, Dechra’s chief executive, said: “We are delighted to have reached an agreement with Scynexis and look forward to a successful partnership and bringing SCY-641 to market.”

In its annual results statement, Dechra, which runs its Dales Pharmaceuticals arm out of Skipton, North Yorkshire, said 2011/12 had proved a year successful year for the business, with strong underlying growth.

“The underlying growth has been generated from a solid performance by our licensed veterinary pharmaceuticals across all our major brands. Good revenue growth was delivered in both our services segment and from our third party manufacturing,” it said.

“Solid progress has also been made on our product pipeline. Furthermore, our UK based manufacturer, Dales Pharmaceuticals has achieved a significant milestone in gaining US Food and Drug Administration approval to manufacture Vetoryl for the US market.”