Trading Update

RNS Number : 5127Y

Dechra Pharmaceuticals PLC

08 July 2008

 

Issued by Citigate Dewe Rogerson Ltd, Birmingham

Date: Tuesday, 8 July 2008

Dechra® Pharmaceuticals PLC

('Dechra' or 'The Group')

Trading Update

The Board of Dechra issues the following update ahead of the publication of the Group's Preliminary Results for the year ended 30 June 2008 which will be announced on Tuesday 2 September 2008.

The Group has made strong progress in line with management expectations and this is reflected by total revenue being approximately 20% ahead of last year.

Pharmaceuticals Division

Our Pharmaceuticals Division was strengthened by the acquisition of VetXX Holdings A/S ('VetXX') in January of this year. The integration has proceeded to plan with the expected annualised cost synergies having been achieved. As a result of the acquisition Equipalazone® for the French and German markets has been brought back in-house, Ovuplant® was launched at the end of the period and further product launches through our new European subsidiaries are imminent. Overall, VetXX has performed in line with our expectations since acquisition.

Revenue from our key products Vetoryl® and Felimazole® continues to show strong growth as further penetration is achieved within Europe. Initial revenues from our recently launched products Domidine®, Sedator®, Thyroxyl® and Ovuplant® have also met our expectations. 

Our manufacturing business, Dales Pharmaceuticals, has also performed well during the period due to improved efficiency and increased production of both our own and third party products.

We continue to make good progress with our product development programme; FDA approval for our key products remains on track.

Services Division

Our Services Division produced another strong performance in a market that continues to show growth. National Veterinary Services maintained its leading position in a very competitive environment, with a market share in excess of 44%.

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Summary

During the financial year the Group has made exceptional strategic progress with the acquisition of VetXX significantly strengthening our Pharmaceuticals Division. With this acquisition now integrated, the robust performance of our core businesses and an exciting pipeline of novel and generic products, we look forward to the future with confidence.

Enquiries:
Ian Page, Chief Executive	Fiona Tooley, Director
Simon Evans, Group Finance Director	Keith Gabriel, Senior Account Manager
Dechra Pharmaceuticals PLC	Citigate Dewe Rogerson
Telephone: + 44 (0) 1782 771 100	Telephone: [phone]
Mobile: [phone] (IP)	Mobile: [phone] (KG)
Mobile: [phone] (SE)
www.dechra.com
[e-mail]

Trade Marks appear throughout this release in italics.  Dechra and the Dechra 'D' logo are registered Trade Marks of Dechra Pharmaceuticals PLC.

 

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