10th Jul 2007 07:00
Dechra Pharmaceuticals PLC10 July 2007 Issued on behalf of Dechra Pharmaceuticals PLCDate: Tuesday 10th July 2007 Embargoed 7am Dechra Pharmaceuticals PLC ("Dechra" or The "Group") Trading update The Board of Dechra issues the following update ahead of the publication of theGroup's Preliminary results for the year ended 30 June 2007 which will beannounced on Tuesday 4 September 2007. Trading updateThe Group has made good progress across all its businesses, performing in linewith management expectations. This is reflected by total revenue beingapproximately 9% ahead of last year. Pharmaceuticals DivisionOur Pharmaceuticals Division made good progress, both in the UK andinternationally, through increased penetration of its own-developed licensedveterinary products. In particular the first year of marketing Vetoryl withinEurope has been encouraging with revenue exceeding budget. Our pharmaceutical manufacturing business has improved operational efficiencyand has benefited in the second half from significant sales related to the newcontract won at the end of last year. The Group's Pharmaceutical Product Development Programme also continues toprogress and strengthen. The US-based Clinical Trials for our key veterinaryproducts, Vetoryl(R), Felimazole(R) and Equidone(R) remain on target. We arecontinuing to work closely with the FDA to secure the relevant regulatoryapprovals. We remain confident that approval of these products into this keyregion will be achieved during 2008. We continue to identify opportunities to bring new products into our veterinarymedicines portfolio and have increased the number of new products the Groupcurrently has under development. Towards the end of the financial year, ageneric product was launched into the UK market and a further three arescheduled to be launched by the end of the 2007 calendar year. Recently, we significantly strengthened our position in the USA by securing along-term trademark license and supply agreement with Pharmaderm Animal Health.This gives the Group exclusive marketing and distribution rights for a range ofveterinary licensed ophthalmic, otic and dermatological products. This willprovide increased sales and strengthen our profile and brand awareness withinthe US veterinary market ahead of the launch of our own developed veterinaryproducts as mentioned above. Services DivisionThe Services Division produced another strong performance further underpinningits leading market position. Investments made during the 2006 financial year andstandardisation of customer discount terms during the financial year just endedhave already had a positive impact; we expect to see further benefits in 2008. The integration of Leeds Veterinary Laboratories Limited ("LVL"), a specialistlaboratories business which the Group acquired in April, is proceeding well. Weexpect to see further market share penetration and revenue progress during the2008 financial year. SummaryOverall, the Group has made strong progress during the 2007 financial year. Weexpect to see the Group make further progress as we continue to strengthen andbuild our positions both in the UK and in international markets. Enquiries:Ian Page, Chief Executive Fiona Tooley, DirectorSimon Evans, Group Finance Director Citigate Dewe RogersonDechra PharmaceuticalsPLC Telephone: +44 (0) 121 455 8370Telephone: +44 (0) 1782 771100 Mobile: +44 (0) 7785 703523Mobile: +44 (0) 77756 42222 (IP)Mobile: +44 (0) 7775 642220 (SE) Keith Gabriel Senior Account Manager Citigate Dewe Rogerson Telephone: +44 (0) 121 455 8370www.dechra.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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