Dechra makes £5.4m acquisition

PET drugs firm Dechra Pharmaceuticals has expanded its business with the acquisition of a veterinary pharmaceuticals company.
By The Newsroom
Published 1st Dec 2010, 08:35 BST
Updated 1st Dec 2010, 08:36 BST

The 5.4m acquisition of Genitrix, based in West Sussex, comes after the 40m purchase of Florida-based DermaPet in October.

Dechra has its Dales Pharmaceuticals plant in Skipton, where it makes drugs for pets and humans.

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Dechra said it had bought the entire issued share capital of Genitrix from its owner managers for an initial 5.4m. A further 0.8m is payable once the company achieves specific milestones. The purchase is being funded from Dechra's existing cash resources.

In the year ended March 31, 2010, Genitrix achieved revenues of 2.4m.

Ian Page, Dechra chief executive, said: "Genitrix range of equine and companion animal products enhances and complements our UK product portfolio.

"Furthermore the recently approved canine epilepsy product, Libromide, provides future growth opportunities through potential mutual recognition in Europe. The acquisition is expected to be earnings enhancing in the first full year

Related topics:FloridaWest Sussex