Dechra Pharmaceuticals PLC
20 September 2002
Issued by Citigate Dewe Rogerson Limited, Birmingham
Date: Friday 20 September 2002 Embargoed: 7.00am
Dechra Pharmaceuticals PLC
Inquiry into supply of prescription-only medicines: statement of provisional
conclusions on complex monopoly and hypothetical remedies
The Directors of Dechra Pharmaceuticals PLC ('Dechra') have noted the
announcement issued on 17 September 2002 by the Competition Commission, relating
to provisional conclusions on the existence of a complex monopoly and
hypothetical remedies in the supply of prescription only veterinary medicines
('POMs').
The Commission provisionally concluded in the 'Statement of Issues' released on
16 April 2002 that a scale monopoly exists in favour of National Veterinary
Services ('NVS'). However, the Commission makes it clear that this purely
technical finding does not imply in any way that this situation operates or
might be expected to operate against the public interest.
Ian Page, Chief Executive, Dechra Pharmaceuticals PLC commented:
'We are continuing to co-operate fully with the Commission's inquiry. Whilst the
proposals are still potentially open to change, we believe that the hypothetical
remedies are unlikely to have any material impact on the performance of our
trading subsidiary, NVS.
Furthermore we believe Dechra is in a strong position to service and support the
requirement of our existing and new customers if and when change is implemented.
We look forward to the Commission's final report due in January 2003, and as
indicated in our Preliminary result's statement issued this month, we will
continue to update shareholders as soon as any new or relevant information
becomes available.'
The Competition Commission is expected to submit its Report to The Secretary of
State for Trade and Industry on 8 January 2003.
Enquiries:
Ian Page, Chief Executive (07775 642222) Fiona Tooley (07785 703523)
Simon Evans, Group Finance Director Katie Dale
Dechra Pharmaceuticals PLC Citigate Dewe Rogerson
Tel: 01782 771100 Tel: 0121 455 8370
www.dechra.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.