Dechra Pharmaceuticals claws higher sales as acquisitions bed in

Veterinary specialist Dechra Pharmaceuticals reported trading in line with forecasts for the full year to end June.

Ahead of final results in early September, revenues were said to be up around 45%, or 28% at constant exchange rate, driven by North America up 93% and European pharma up 28%.

Acquisitions settled in nicely to complement a good performance by core business, helped by numerous product registrations achieved during the year, including approval by the FDA for the first major product from the Putney pipeline, a Companion Animal Product generic antibiotic, Amoxi-clav.

Over the past two years, Dechra has acquired Genera for poultry vaccines, Putney for US companion animal generics, Apex for Australian unbranded companion animal manufacturing and distribution, and Brovel, a Mexico-based animal health products firm, spending a total of around £220m.

Chief executive Ian Page said: "As we complete our 20th year since the inception of Dechra, we are pleased to report that the Group has delivered another strong financial performance.

"This has been driven by growth from our core portfolio, good market penetration from recent pipeline launches and the successful integration and performance of the acquisitions made in the preceding financial year. We start the new financial year in a good position."