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Home Industry News VetXX sought by Dechra

VetXX sought by Dechra

12th December 2007

British firm Dechra Pharmaceuticals has said it is to buy VetXX for ?61.7 million.

It stated that the acquisition would allow it access to ten EU countries, including Britain and Ireland.

“The acquisition is anticipated to be earnings enhancing before amortisation and exceptional costs in the first full year and significantly earnings enhancing thereafter,” Dechra claimed.

VetXX is a Denmark-based company which creates veterinary diets, medicines and other care products for the treatment of skin, eye and ear complaints in dogs and cats.

It reports that recently it has enjoyed “strong growth” with its companion animal sales reaching nearly 50 million euros (?36 million) in 2004.

Dechra is responsible for therapies such as Vetoryl, which treats canine hyperadrenocorticism and Felimazole, which targets feline hyperthyroidism.

However, CNN Money reports that the acquisition news “failed to support” Dechra as its shares fell 19 pence to 317.

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