Pharmaceuticals firm takes a dose of success

PHARMACEUTICALS group Dechra has had a successful start to the year as its revenue increased “significantly” with plans in place to launch new businesses in Canada and Poland.

The firm, which has a manufacturing facility in Skipton, has had a strong year to date, the firm’s third quarter.

The group said trading has been strong but pointed out it that it had benefited from the phasing of pre-Easter ordering in Europe and competitor stock shortages in the US.

For the nine months ended 31 March 2015, revenue growth was 12.3% at CER (6.6% at AER).

In the third quarter Dechra’s European Pharmaceuticals Segment increased revenues by 7.3% and revenues for the nine months grew by 5.7%.

However, sales in its food producing Animal Products (FAP) continued to decline by 12.8% at CER in the third quarter.

North America sales in the quarter grew by 66.8%.

The revenue growth in the US is partly attributable to the recent acquisition of Phycox, the launch of Osphos, and the re-launch of two ophthalmic products following the resolution of long-term supply issues.

Dechra said the performance in this quarter has also been enhanced by strong trading in its dermatology product range, largely due to a competitor out-of-stock situation.

During the period Dechra established a new Polish entity and a sales and marketing team recruited.

The company will commence trading in our next financial year.

A new Canadian entity started trading in January.The firm has received approval for its injection facility in Skipton, which it says is important for the future US launch of Zycortal as it will be manufactured there.

In March Dechra made an investment of US$1m into Jaguar Animal Health to gain access to the EU marketing rights for its companion animal products.

“We remain on track to deliver our strategic milestones and further progress has been made in the period,” the statement said.