Dechra shows strong growth with new drug approvals and global expansion

Dechra Pharmaceuticals has reported a strong first-half performance in its latest half-yearly Financial Report for 2016.

The report looked at the second six months of last year up to 31st December and showed that all of its units are performing well.

Ian Page, chief executive officer, said the company is launching new products and its "international plans are progressing as expected, and we have made two strategic acquisitions".

Mr Page added that all of this has left the company in a "strong position to continue to grow the business and deliver returns to our shareholders".

Trading was strong with group revenue growth including Genera – which the company acquired in October of last year – increasing by 14.9 percent at a constant exchange rate (CER) and the company experienced underlying operating profit growth of 24.2 percent at CER.

Alongside the Genera acquisition, Dechra also successfully expanded into the American market in 2015.

Zycortal, a novel canine endocrine product for the treatment of Addison's disease, has received regulatory approvals.

Two food producing animal products antibiotics, Phenocillin and Solamocta, have also been approved in the EU.