Dechra Pharmaceuticals acquires California-based Med-Pharmex for £221.5m
Pet drugs firm Dechra Pharmaceuticals, which manufactures pharmaceuticals in Skipton, today revealed it had secured a major acquisition.
Dechra has acquired Med-Pharmex, Inc, a veterinary pharmaceutical manufacturer based in Pomona, California, for £221.5m.
In a statement, Dechra said it has known Med-Pharmex for a number of years, and it has been a long term acquisition target.
Med-Pharmex, which employs around 130 people, was founded in 1983 and serves the CAP, FAP and equine markets.
Med-Pharmex manufactures its own products at its facilities in California, with capacity which Dechra plans to use for its own manufacturing strategy over time.
Ian Page, chief executive Officer at Dechra commented: “I am delighted that we have completed the acquisition of Med-Pharmex, a company that I have been in dialogue with for a number of years. The US market is highly consolidated, therefore this is a unique opportunity to add several new products to our portfolio, enter the US FAP market and improve the manufacturing footprint for our North American business.”