8th Oct 2018 08:30
LONDON (Alliance News) - Dechra Pharmaceuticals PLC on Monday said it has acquired equine pharma business Caledonian Holdings Ltd for GBP4.4 million.
Dechra will incorporate Caledonian's range of proprietary equine drugs into its existing veterinary pharmaceutical portfolio.
Caledonian supplies primarily to New Zealand and Australia, and has seen growth in Hong Kong. The company, which offers a range of medicines, equipment, and devices for veterinarians, recorded GBP1.8 million in revenue for its financial year to June 2017.
"We are pleased to have acquired the trade and assets of Caledonian which will be integrated into our existing Australian & New Zealand businesses. This will enable Dechra to leverage its position in the Australian & New Zealand equine market," said Dechra Chief Executive Ian Page.
Shares in Dechra were up 0.8% at 2,226.00 pence on Monday morning.
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