Dechra Pharmaceuticals PLC — M&A Activity 2020

Jul 28, 2020

National Storage Mechanism | Additional information

RNS Number : 2285U

Dechra Pharmaceuticals PLC

28 July 2020

Tuesday, 28 July 2020

Dechra® Pharmaceuticals PLC

(Dechra, Group, Company)

Completion of Acquisition

Dechra acquires worldwide rights to the Osurnia product portfolio

Further to the announcement on 6 January 2020, Dechra is pleased to announce that the acquisition of the worldwide rights of the Osurnia product portfolio (Osurnia) from Elanco Animal Health Incorporated  (Elanco) has completed for a total consideration of USD135.0 million (£104.7 million)1 (the Purchase Price).  The addition of Osurnia to the Dechra dermatology portfolio will significantly enhance its presence in this key therapeutic area.

Osurnia is a long acting treatment for otitis externa (inflammation of the outer ear) in dogs.  Osurnia was launched in 2014 and is currently approved in a number of countries including major markets, USA (2014), Europe (2014), Japan (2014), Canada (2015), Australia (2016) and New Zealand (2017). There are further submissions awaiting approval in Argentina, Thailand, Malaysia, South Korea and planned submissions in Venezuela (2021), Israel (2022), China (2024).

For the year ended 31 December 2018, the reported revenues for Osurnia were USD 31.2 million (£24.2 million) 1.

Ian Page, Dechra's Chief Executive Officer commented:

"We are delighted to complete the acquisition of the worldwide rights to Osurnia. The addition of Osurnia will allow us to offer an extended range of solutions for veterinarians to manage otitis externa and offer the best treatment for the pet taking into consideration the veterinarians clinical preference and the owners' lifestyle."

Enquiries:
Dechra Pharmaceuticals PLC	Office:  +44 (0) 1606 814 730
Ian Page, Chief Executive Officer
Paul Sandland, Chief Financial Officer e-mail: corporate.enquiries@dechra.com
Investec Bank plc (Stockbroker and Financial Advisers)	Tel: +44 (0) 20 7597 5970
Chris Treneman / Daniel Adams
TooleyStreet Communications Ltd	Mobile: +44 (0) 7785 703 523
Fiona Tooley, Director e-mail: fiona@tooleystreet.com

Note

Translated at USD 1.2896: GBP 1.0000 (closing rate on 27 July 2020)

About Dechra

Dechra is global specialist veterinary pharmaceuticals and related products business.  Our expertise is in the development, manufacture and sales and marketing of high quality products exclusively for veterinarians worldwide.  Dechra's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. 

For more information, please visit: www.dechra.com.

Stock Code: Full Listing (Pharmaceuticals): DPH

LEI: 213800J4UVB5OWG8VX82

Trademarks

Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC.

Forward Looking Statement

This document may contain certain forward-looking statements.  The forward-looking statements reflect the knowledge and information available to the Company during the preparation and up to the publication of this document.  By their very nature, these statements depend upon circumstances and relate to events that may occur in the future thereby involve a degree of uncertainty.  Therefore, nothing in this document should be construed as a profit forecast by the Company.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ACQEAFXXADKEEAA