21st Dec 2006 07:01
Dechra Pharmaceuticals PLC21 December 2006 Issued by Citigate Dewe Rogerson, BirminghamDate: Thursday 21st December 2006 Embargoed: 7.00am Dechra Pharmaceuticals PLC Dechra acquires worldwide Intellectual Property Rights to Equidone Dechra Pharmaceuticals PLC ("Dechra" or "the Group") today announces that theGroup has acquired the intellectual property for Equidone, an equine productfrom Equi-Tox(R) Inc., a US Company. The use of the active ingredient, Domperidone, has been co-developed by Equi-Toxand Clemson University, based in South Carolina, USA for the prevention ofFescue Toxicity. The consideration for the intellectual property is US$1.75 million payable incash, of which US$0.5 million has been paid on completion. The remaining balancewill be paid following licensing approval by the FDA, with submission beingtargeted in 2008. In addition, the Group will pay future royalties of 10% onrevenues received. Equidone is already patented and under limited distribution in the US under aspecial license. The market for equine fescue toxicity is estimated to beapproximately US$2 million per annum. Other patents for Equidone use have alsobeen approved; evaluation of other indications with substantially larger marketswill commence in 2007. Ian Page, Chief Executive, Dechra Pharmaceuticals PLC commented: "Development of the Group's international veterinary pharmaceutical portfolio isimportant to our future growth; therefore we are delighted to have acquired theintellectual property for this product. The North American market is ofimportance to our strategy as it is the largest companion animal market in theworld". Enquiries:Ian Page, Chief Executive Fiona Tooley, DirectorSimon Evans, Group Finance Director Katie Dale, Senior Account ManagerDechra Pharmaceuticals PLC Citigate Dewe RogersonTelephone: 01782 771 100 Telephone: 0121 455 8370www.dechra.com Further information on Equi-Tox Inc. can be found at www.equitox.com Editors Note: Fescue toxicity is caused by eating a fungus which infects tallfescue grass. The most serious clinical signs are observed in the late stages ofpregnancy and the toxicity can result in foal death. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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