Completion of Acquisition

RNS Number : 8045J

Dechra Pharmaceuticals PLC

16 April 2020

 

Thursday, 16 April 2020

Dechra^® Pharmaceuticals PLC

(Dechra, Group, Company)

Completion of Acquisition

Dechra acquires worldwide rights to the Mirataz® product portfolio

Further to the announcement on 17 March 2020, Dechra is pleased to announce that the acquisition of the worldwide rights of the Mirataz® product portfolio from Kindred Biosciences Incorporated has completed.   The addition of Mirataz significantly enhances the Dechra portfolio and is fully complementary to its existing product offering to veterinarians.

Mirataz is the first and only FDA and EMA approved transdermal medication for the management of weight loss in cats, a major problem encountered by veterinarians and owners when treating other underlying medical conditions. Mirataz was launched in the US in July 2018 by KindredBio and the responsibility for sales in this market will transfer immediately to the Dechra US team. It has recently been approved in the EU for bodyweight gain in cats experiencing poor appetite and weight loss resulting from chronic medical conditions, and is expected to be launched in all European markets in the coming months. Mirataz is also in registration in other territories around the world. The acquisition is expected to be earnings enhancing for the financial year ending 30 June 2021.

Ian Page, Dechra's Chief Executive Officer commented:

"We are delighted to complete the acquisition of the worldwide rights to Mirataz, a product that fits extremely well with our existing specialist portfolio. We recognise at this difficult time the importance of a strong balance sheet, however these opportunities are few and far between and it is important that we continue to strengthen the business for the future."

Enquiries:
Dechra Pharmaceuticals PLC	Office:  [phone]
Ian Page, Chief Executive Officer
Paul Sandland, Chief Financial Officer e-mail: [e-mail]
Investec Bank plc (Stockbroker and Financial Advisers)	Tel: [phone]
Chris Treneman / Daniel Adams
TooleyStreet Communications Ltd	Mobile: [phone]
Fiona Tooley, Director e-mail: [e-mail]

About Dechra

Dechra is global specialist veterinary pharmaceuticals and related products business.  Our expertise is in the development, manufacture and sales and marketing of high quality products exclusively for veterinarians worldwide.  Dechra's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. 

For more information, please visit: www.dechra.com .

Stock Code: Full Listing (Pharmaceuticals): DPH

LEI: 213800J4UVB5OWG8VX82

About Mirataz

Mirataz was launched in the USA in July 2018 and is currently approved in a number of countries including Europe and UK (2019).  The product is pending approval in Canada.

About Kindred Biosciences

Kindred Biosciences (Nasdaq: KIN) is a United States-based biopharmaceutical company developing innovative biologics focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The company's strategy is to identify targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated targets for dogs and cats.

For more information, please visit: www.kindredbio.com

Trademarks

Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC.

Forward Looking Statement

This document may contain certain forward-looking statements.  The forward-looking statements reflect the knowledge and information available to the Company during the preparation and up to the publication of this document.  By their very nature, these statements depend upon circumstances and relate to events that may occur in the future thereby involve a degree of uncertainty.  Therefore, nothing in this document should be construed as a profit forecast by the Company.

 

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