8th Jan 2007 07:00
Dechra Pharmaceuticals PLC08 January 2007 Issued by Citigate Dewe Rogerson, BirminghamDate: Monday, 8 January 2007 Embargoed: 7.00am Dechra Pharmaceuticals PLC Trading Update Dechra Pharmaceuticals PLC ("the Group") issues the following update ahead ofpublication of the Group's Interim Results for the six months ended 31 December2006, which are scheduled to be announced on Tuesday 27 February 2007. Current Trading The Group continues to make substantial progress across all its businesses andthis is reflected in a total revenue increase of approximately 8.5% compared tothe same period last year. Product Development The ongoing development of the Group's international veterinary pharmaceuticalportfolio remains important to our future growth:- • Equidone(R) - Prior to the half year end, we announced that we had acquired the intellectual property for Equidone(R), an equine product, which is at an advanced stage of development for the US market. • Vetoryl(R) - Within the USA, efficacy trials for Vetoryl(R) are running to schedule, the manufacturing dossier has been submitted and the safety section is due to be filed with the FDA this month. The Board remains confident that the product will be launched in-line with our planned programme. - Within Europe, revenues are already exceeding budgets and this bodes well for our 2007 roll-out programme into new territories including Spain, Portugal and the Nordics. • Generics - The Group has also secured the UK marketing rights for four new generic products for the equine and small animal market sectors. Following submission and regulatory approval, the Board expects the first of these products to be launched within this financial year, with the others anticipated to be licenced by the end of 2007. continued... -2- Pharmaceuticals Division Update Dechra Veterinary Products continues to benefit from solid growth from its ownbranded pharmaceuticals within the UK. Dales gained a significant new third-party manufacturing contract towards theend of our previous financial year. The Board is pleased to report thatmanufacturing for this contract has commenced ahead of schedule. Revenues from Arnolds, our instruments, consumables, critical care and equipmentbusiness, have performed in-line with our expectations. Services Division Update NVS continues to hold its leading market position. During the last financialyear, the company invested over £700,000 in additional automation and capacitywithin its facilities. The Board is pleased to report that the additionalwarehousing and semi-automated picking circuit is now fully commissioned. Thishas enhanced the company's productivity and overall operational efficiency. The Group's Laboratories businesses are continuing to increase market share. Toaccelerate this growth the company has established a new satellite laboratory inSwanscombe. This presence in Southern England has increased opportunities forgrowth, which has been demonstrated by a number of new account wins securedprior to the period end. Conclusion The Directors remain confident that the Group will continue to make goodprogress and achieve a strong overall performance for the financial year ending30 June 2007, in line with management expectations. We look forward to updatingshareholders of further developments as and when appropriate. 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 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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