17th Feb 2005 07:00
Dechra Pharmaceuticals PLC17 February 2005 Issued by Citigate Dewe Rogerson Limited, BirminghamDate: Thursday, 17 February 2005 Embargoed: 7.00am Dechra Pharmaceuticals PLC Dechra secures worldwide sales & marketing rights for new product range Dechra Pharmaceuticals PLC ("Dechra" or "the Group") has signed a worldwidemarketing agreement with Belcher Pharmaceuticals, Inc. ("Belcher"), a whollyowned subsidiary of GeoPharma, Inc., based in Largo, Florida, USA. The agreement will provide Dechra with exclusive worldwide sales and marketingrights for the animal application to Belcher's levothyroxine liquid and tablets,used to control hypothyroidism in dogs. Under the agreement, Dechra will own all trade names associated with theproducts, and will be responsible for all registrations. Belcher will retain allintellectual property rights to the chemistry and manufacturing procedure of theproducts. A tablet preparation of the product with enhanced stability (patent applied)will be launched immediately by Dechra in the United States, a market which isestimated to be worth approximately US$9 million. A further unique liquidpreparation (patent applied) is currently being developed, with an anticipatedlaunch in the USA within 12 months. Dechra will pay Belcher a license fee of US$0.5 million. Thereafter, profitswill be split equally between the Group and Belcher, following the deduction ofmanufacturing and direct marketing costs. Ian Page, Chief Executive of Dechra Pharmaceuticals PLC commented: "The agreement with Belcher for the Levothyroxine product range will allow us toestablish ourselves in the American veterinary endocrine market ahead of theregistration of our own key products, Vetoryl(R) and Felimazole(R). "This partnership is a significant step forward in our on-going strategy todevelop our own licensed veterinary pharmaceutical portfolio in keyinternational territories." Mihir Taneja, GeoPharma's Chief Executive Officer added:"We continue to expand our distribution network through partnerships with marketleading companies, such as Dechra. We expect the success of this partnership tolead to further collaboration in the veterinary markets." Enquiries:Ian Page, Chief Executive Fiona Tooley, DirectorSimon Evans, Group Finance Director Katie Dale, Account ManagerDechra Pharmaceuticals PLC Citigate Dewe RogersonToday: +44 (0) 1782 771100 Today: +44 (0)121 455 8370Mobile: 07775 642222 (IP) or 07775 642220 (SE) Mobile: 07785 703523 (FMT)www.dechra.com Editors Background Notes: About Dechra Pharmaceuticals PLC (Reuters: DPH.L)www.dechra.com Dechra Pharmaceuticals are specialists in the UK and international veterinaryand animal healthcare markets. Key to the Group's strategy is the development ofits veterinary pharmaceuticals portfolio. The business is split into two divisions: the Pharmaceutical division whichincludes Arnolds Veterinary Products, Dechra Veterinary Products (USA) and DalesPharmaceuticals and the Services division which includes National VeterinaryServices, NationWide Laboratories, Cambridge Specialist Laboratory Services andVetcom Practice Management Systems. Dechra is quoted on the London Stock Exchange (under pharmaceuticals andbiotech). About GeoPharma, Inc. (Nasdaq: GORX)www.onlineihp.comwww.leanprotein.comwww.carbslim.com GeoPharma, Inc. is a rapidly growing pharmaceutical company specialising in themanufacturing and distribution of over-the-counter, nutritional, generic drugand functional food products. The Company's growth strategy is to capitalise onits manufacturing expertise to develop high margin generic or novel drugs forniche human and animal health markets with high barriers to entry. GeoPharma'scompetitive advantage lies in its ability to circumvent or overcome thechallenges in these markets. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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