30th Apr 2014 08:33
LONDON (Alliance News) - Dechra Pharmaceuticals PLC Wednesday said it has seen its revenue rise in the third quarter to end-March, seeing a strong performance from both its European and US operations.
Total revenues were 4.7% ahead of the previous year, and 4.9% on a constant currency basis, Dechra said.
European pharmaceuticals revenue were up 3.3%, boosted by poor weather in the previous period.
Companion Animal Product sales were up 9% on a constant currency basis, and Food Producing Animal Product sales were flat as a better performance from equine products was offset by a decline in large animal antibiotics.
US revenue was up 16%, 22% on a constant currency basis, driven by momentum in the company's endocrinology and dermatology therapeutic areas.
Treatment for Cushing's disease in dogs Vetoryl, and feline hyperthyroidism treatment Felimazole both performed ahead of expectations, Dechra said.
Dechra said it was on track for opening its new Canadian subsidiary during Autumn. Its newly opened Italian subsidiary commenced trading March 1.
The company said it had continued to make significant progress on its pipeline, and expects it will provide an update on before the year end.
Dechra did not provide any figures, only percentage changes.
Shares in Dechra were trading up 0.4% at 699.50 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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