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Dechra drug wins approval in US
PET drugs company Dechra Pharmaceuticals is targeting the lucrative US pet market after winning approval to market a drug there.
The Skipton group yesterday said it won full US Food and Drug Administration (FDA) approval for Vetoryl, which treats Cushing's syndrome in dogs.
It produces hair loss, pot-belly, skin diseases, changes in behaviour, frequent urination and a ravenous appetite.
The permission means it can now sell capsules of the drug. Initial batches of Vetoryl have been manufactured and are being shipped to the US. Vetoryl will be launched in the US in January.
The drug is currently sold in 21 European Union countries, and it was launched in Britain in 2001. The US has about 75 million dogs and 82 million cats.
Britain, which currently makes up the bulk of Dechra's sales, has eight million dogs and 8.4 million cats. Dechra also plans to license Vetoryl in Canada, Australia and Japan. The group is also working to win FDA approval for its manufacturing arm Dales, which employs 193 people in Skipton, making own-branded veterinary drugs as well as drugs for humans via its third-party contract manufacturing.
Analysts at brokerage Brewin Dolphin said: "This announcement provides reassurance that Vetoryl remains on track for launch in the first quarter of 2009." It feels the drug could add 2m to revenue to June 2009 with 30m in five years.
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Saturday 11 February 2012
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