Worldwide Marketing Agreement

Dechra Pharmaceuticals PLC
17 February 2005


Issued by Citigate Dewe Rogerson Limited, Birmingham
Date: Thursday, 17 February 2005

                                                               Embargoed: 7.00am

                           Dechra Pharmaceuticals PLC

    Dechra secures worldwide sales & marketing rights for new product range


Dechra Pharmaceuticals PLC ('Dechra' or 'the Group') has signed a worldwide
marketing agreement with Belcher Pharmaceuticals, Inc. ('Belcher'), a wholly
owned subsidiary of GeoPharma, Inc., based in Largo, Florida, USA.

The agreement will provide Dechra with exclusive worldwide sales and marketing
rights for the animal application to Belcher's levothyroxine liquid and tablets,
used to control hypothyroidism in dogs.

Under the agreement, Dechra will own all trade names associated with the
products, and will be responsible for all registrations. Belcher will retain all
intellectual property rights to the chemistry and manufacturing procedure of the
products.

A tablet preparation of the product with enhanced stability (patent applied)
will be launched immediately by Dechra in the United States, a market which is
estimated to be worth approximately US$9 million. A further unique liquid
preparation (patent applied) is currently being developed, with an anticipated
launch in the USA within 12 months.

Dechra will pay Belcher a license fee of US$0.5 million. Thereafter, profits
will be split equally between the Group and Belcher, following the deduction of
manufacturing and direct marketing costs.

Ian Page, Chief Executive of Dechra Pharmaceuticals PLC commented:

'The agreement with Belcher for the Levothyroxine product range will allow us to
establish ourselves in the American veterinary endocrine market ahead of the
registration of our own key products, Vetoryl(R) and Felimazole(R).

'This partnership is a significant step forward in our on-going strategy to
develop our own licensed veterinary pharmaceutical portfolio in key
international territories.'

Mihir Taneja, GeoPharma's Chief Executive Officer added:
'We continue to expand our distribution network through partnerships with market
leading companies, such as Dechra. We expect the success of this partnership to
lead to further collaboration in the veterinary markets.'

Enquiries:
Ian Page, Chief Executive                         Fiona Tooley, Director
Simon Evans, Group Finance Director               Katie Dale, Account Manager
Dechra Pharmaceuticals PLC                        Citigate Dewe Rogerson
Today: [phone]                        Today: [phone]
Mobile: [phone] (IP) or 07775 642220 (SE)    Mobile: [phone] (FMT)
www.dechra.com



Editors Background Notes:

About Dechra Pharmaceuticals PLC (Reuters: DPH.L)
www.dechra.com

Dechra Pharmaceuticals are specialists in the UK and international veterinary
and animal healthcare markets. Key to the Group's strategy is the development of
its veterinary pharmaceuticals portfolio.

The business is split into two divisions: the Pharmaceutical division which
includes Arnolds Veterinary Products, Dechra Veterinary Products (USA) and Dales
Pharmaceuticals and the Services division which includes National Veterinary
Services, NationWide Laboratories, Cambridge Specialist Laboratory Services and
Vetcom Practice Management Systems.

Dechra is quoted on the London Stock Exchange (under pharmaceuticals and
biotech).

About GeoPharma, Inc. (Nasdaq: GORX)
www.onlineihp.com
www.leanprotein.com
www.carbslim.com

GeoPharma, Inc. is a rapidly growing pharmaceutical company specialising in the
manufacturing and distribution of over-the-counter, nutritional, generic drug
and functional food products. The Company's growth strategy is to capitalise on
its manufacturing expertise to develop high margin generic or novel drugs for
niche human and animal health markets with high barriers to entry. GeoPharma's
competitive advantage lies in its ability to circumvent or overcome the
challenges in these markets.




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