Dechra Pharmaceuticals posts strong first quarter results

Dechra Pharmaceuticals has posted a strong first quarter update, with a substantial increase in revenue.

The FTSE 250 listed company posted a trading update on Friday for the three months to 30 September.

Group revenue for the first quarter increased by 21% at a constant exchange rate, driven by a strong momentum in all business units, the phasing of sales in advance of regional price increases and the contribution from new subsidiaries.

In the European pharmaceuticals division, revenue increased by 11% as the company’s Companion Animal Products were ahead of expectations.

State-side, North America division revenues surged 86% after a strong start to the year for its dermatology, endocrinology and ophthalmic ranges.

The company also has strong plans for the future with a phased launch of Zycortal, its product for the treatment of Addison's disease, following EU approval in September.

Osphos, its drug to treat navicular syndrome, is gaining market share in the US and will be launched in the EU before the end of the year.