Result : Placing & Open Offer

Dechra Pharmaceuticals PLC
08 January 2008

8 January 2008


 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
     INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, MALAYSIA, CANADA,
         AUSTRALIA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA


             Dechra Pharmaceuticals PLC ('Dechra' or the 'Company')

                        Result of Placing and Open Offer

On 12 December 2007, the Company announced an Open Offer of 11,624,544 New
Ordinary Shares at an issue price of 303 pence per share to raise £35 million in
order to partly finance the proposed acquisition of VetXX Holding A/S ('VetXX').
The Open Offer has been fully underwritten by Dresdner Kleinwort Limited
('Dresdner Kleinwort').

Under the terms of the Placing Agreement, Dresdner Kleinwort has conditionally
placed the Open Offer Shares, subject to clawback to satisfy valid applications
from Qualifying Shareholders under the Open Offer, at the Open Offer price.
Qualifying Shareholders were invited to subscribe for Open Offer Shares on the
basis of 11 Open Offer Shares for every 50 existing Ordinary Shares held.

As a result of the Open Offer which closed at 10.30 a.m. today, valid
applications have been received from Qualifying Shareholders in respect of
8,849,097 shares (representing approximately 76.1 per cent. of the 11,624,544
Open Offer Shares available under the Open Offer). In accordance with the
arrangements set out in Part III of the Prospectus dated 13 December 2007,
Dresdner Kleinwort has procured acquirers for the remaining 2,775,447 New Shares
for which valid applications were not received, at a price of 303 pence per New
Share.

The Open Offer remains conditional upon the admission of the New Ordinary Shares
to trading on the London Stock Exchange and listing on the Official List of the
UK Listing Authority becoming effective.

The New Ordinary Shares, when issued and fully paid, will rank pari passu with
the Existing Ordinary Shares in all respects.

Admission of the New Ordinary Shares is expected to become effective on 9
January 2007.




Enquiries:
Ian Page, Chief Executive              Fiona Tooley, Director
Simon Evans, Group Finance Director    Keith Gabriel, Senior Account Manager

Dechra Pharmaceuticals PLC             Citigate Dewe Rogerson
Tel: [phone]               Tel: [phone]
Mobile:[phone] (IP)        Mobile: [phone] (FMT)
www.dechra.com
[e-mail]





Definitions used in the Prospectus shall have the same meanings when used in
this announcement unless the context otherwise requires.

Dresdner Kleinwort Limited, which is authorised and regulated by the Financial
Services Authority, is acting as financial adviser, sponsor and broker to 
Dechra and is acting for no-one else in connection with the contents of this 
announcement and will not be responsible to anyone other than Dechra for
providing the protections afforded to clients of Dresdner Kleinwort Limited,
or for affording advice in relation to the contents of this announcement or
any matters referred to herein.

The information contained in this announcement is not for release, publication
or distribution to persons in the United States, Canada, Japan, Malaysia,
New Zealand, South Africa or Australia or in any jurisdiction where to do so would 
breach any applicable law.

This announcement is not an offer of securities for sale in, into or from
the United States, Canada, Japan, Malaysia, New Zealand, South Africa or 
Australia. The New Ordinary Shares have not been and will not be registered
under the US Securities Act of 1933 (as amended) or under any relevant
securities laws of any state or other jurisdiction of the United States,
and will not qualify for distribution under any of the relevant securities
laws of Canada, Japan, Malaysia, New Zealand, South Africa or Australia.
Accordingly, the New Ordinary Shares may not be offered, sold, taken up,
exercised, resold, renounced, transferred or delivered, directly or indirectly,
within the United States (absent registration or an applicable exemption from
registration) or within Canada, Japan, Malaysia, New Zealand, South Africa 
or Australia.




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