Dechra, which employs 200 staff at its manufacturing base in Skipton, North Yorkshire, has bought the assets of PSPC Inc. for a consideration of up to 10m US dollars.
Based in Melbourne, in Florida, PSPC’s assets include intellectual property,inventory and manufacturing equipment. Dechra is also currently in negotiations to buy PSPC’s US manufacturing facility. PSPC’s principal product is Phycox, a veterinary joint supplement for dogs and horses.
Ian Page, Dechra’s chief executive, said: “We are confident that we can build upon the strong penetration Phycox has already achieved in a fragmented but growing market by leveraging Dechra’s established sales and marketing expertise behind Phycox which has had little historical marketing support. We are also very excited about the opportunity that the new product, already at an advanced stage of development, can deliver.”
Analysts from Investec said: “The move bolsters Dechra’s presence and scale in the US and enhances its product portfolio..Overall, we are encouraged by the continued momentum the group is demonstrating.”