28th Nov 2007 07:00
Dechra Pharmaceuticals PLC28 November 2007 Issued by Citigate Dewe Rogerson Ltd, BirminghamDate: Wednesday, 28 November 2007 Embargoed: 7.00am Dechra(R) Pharmaceuticals PLC ("Dechra" or the "Group") US Operation Dechra Veterinary Products ("DVP") Secures Exclusive Marketing and Distribution Rights for IRAP(TM) and Trading Update Exclusive Marketing and Distribution Rights for IRAP(TM) for US DVP has secured an exclusive agreement with Orthogen Veterinary GmbH ("Orthogen") to market and distribute the patented IRAP(TM) therapy system in the US veterinary market. IRAP therapy utilises the animal's own blood and natural healing mechanisms and is a recent innovation in the treatment of equineosteoarthritis. The patented IRAP syringe produces autologous conditioned serum ("ACS"), whichcontains active quantities of anti-inflammatory and regenerative cytokines. Thetherapy has been used to treat a variety of lameness issues and has provenefficacious in multiple clinical trials in horses around the world. Current annualised revenues in the US for the IRAP therapy are approximatelyUS$1.2 million. DVP is committed to investing in specialised, efficacious,value-added products to serve the equine and small animal markets and we believethat the IRAP therapy is a strong addition to the Group's US product portfolio. The Directors believe that its DVP US team has the skills and expertise toincrease the awareness and benefits of IRAP therapy in the US veterinary marketas well as enhancing revenues in the future. Product Update Vetoryl(R) US As shareholders are already aware the Group has been notified by the FDA that itconsiders the Safety section for Vetoryl Capsules to be approved. Subsequently,the Efficacy section has been submitted to the FDA for review. The Directors are focused on obtaining full US marketing authorisation forVetoryl Capsules and remain confident that this will be achieved before the endof 2008 calendar year. EU approval for Ovuplant(R) Dechra Veterinary Products EU ("DVP EU") has received EU marketing approval tomarket and distribute Ovuplant in Europe. The initial launch by DVP EU will befocused on the main equine territories of Central Europe (Eire, France, Germany,Italy, Holland and Spain) and commence in January 2008. Generics under Development DVP EU has three EU generics which are at an advanced stage of development, oneof which is expected to be launched into the canine market in a number ofEuropean countries during Spring 2008. Trading Update Trading around the Group continues to be very encouraging and the financialposition of the Group remains strong with trading in-line with managementexpectations. The Services Division continues to take advantage of strong market conditions inthe UK and, the Pharmaceuticals Division has made further excellent progressboth in the UK and in international markets. The Group's US pharmaceuticals business, DVP is already achieving solid revenuesfrom the Pharmaderm products acquired in May and trading profitably. The Group's Interim Results for the period ending December 2007 are scheduled tobe announced at the end of February 2008. Enquiries:Ian Page, Chief Executive Fiona Tooley, DirectorSimon Evans, Group Finance Director Keith Gabriel, Senior Account ManagerDechra Pharmaceuticals PLC Citigate Dewe RogersonTel: +44 (0) 1782 771100 Tel:+44 (0) 121 455 8370Mobile:+44 (0) 7775 642222 (IP) Mobile: +44 (0)7785 703523 (FMT)[email protected] Editors Notes: Dechra Pharmaceuticals PLC (LSE Ticker: DPH) Dechra operates under two divisions; Pharmaceuticals and Services. Bothdivisions are focused on the veterinary market with a key area of specialisationbeing on companion animal products. The Group employs over 750 people acrossits 17 locations in the UK and USA. www.dechra.com Trade Marks appear throughout this release in italics. Dechra and the Dechra 'D' logo are registered Trade Marks of Dechra Pharmaceuticals PLC. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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