28th Jul 2020 10:52
(Alliance News) - Dechra Pharmaceuticals PLC on Tuesday said it has completed its USD135.0 million acquisition of the Osurnia product portfolio from Elanco Animal Health Inc.
Osurnia is a long acting treatment for an inflammation of the outer ear in dogs known as otitis externa. The product was launched in 2014 and has approval in a number of major markets including the US, Europe, Japan, Canada, New Zealand, and Australia.
Additional submissions are still awaiting approval in Malaysia, South Korea, Argentina, and Thailand, while submissions are planned for Venezuela in 2021, Israel in 2022, and China in 2024.
In 2018, Osurnia generated revenue of USD21.3 million. Dechra said that the addition of this product to its own dematology portfolio should "significantly enhance its presence in this key therapeutic area".
Chief Executive Ian Page said: "We are delighted to complete the acquisition of the worldwide rights to Osurnia. The addition of Osurnia will allow us to offer an extended range of solutions for veterinarians to manage otitis externa and offer the best treatment for the pet taking into consideration the veterinarians clinical preference and the owners' lifestyle."
Shares in Dechra were down 0.3% at 2,950.00 pence in London on Tuesday morning.
By Anna Farley; [email protected]
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