Dechra Pharmaceuticals PLC

Dechra Pharmaceuticals PLC

Annual Report and Accounts for the year ended 30 June 2012

Delivering Growth

1 July 2000 to 30 June 2001

September 2000

Dechra listed on the London Stock Exchange at 120 pence per share, with a market capitalisation of £60 million

December 2000

NVS's semi automatic picking system commissioned at a cost of £0.5 million

Revenue

£ million

156.4

Underlying Profit
Before Taxation

£ million

5.8

Dividend per Share

pence

3.44

1 July 2001 to 30 June 2002

December 2001

Vetoryl® launched in the UK

April 2002

Acquired North Western Laboratories and Cambridge Specialist Laboratory Services for a consideration of £2.75 million, enabling Dechra to extend its service offering to the veterinary profession

April 2002

Felimazole® launched in the UK

May 2002

Acquired Anglian Pharma Plc for a consideration of £2.5 million which more than doubled Dechra's contract manufacturing revenues

Revenue

£ million

170.2

Underlying Profit
Before Taxation

£ million

7.3

Dividend per Share

pence

3.78

1 July 2002 to 30 June 2003

April 2003

North Western Laboratories rebranded to NationWide Laboratories

May 2003

Entered into a sub-licence agreement with Bioenvision® Inc to develop Vetoryl for future marketing in the USA and Canada

Revenue

£ million

179.3

Underlying Profit
Before Taxation

£ million

6.7

Dividend per Share

pence

3.78

1 July 2003 to 30 June 2004

December 2003

Entered into a European marketing agreement with Janssen Animal Health, allowing Janssen full marketing and distribution rights to Felimazole and Vetoryl in mainland Europe

Revenue

£ million

186.8

Underlying Profit
Before Taxation

£ million

8.1

Dividend per Share

pence

4.32

1 July 2004 to 30 June 2005

November 2004

Granted a full EU licence for Felimazole and granted a UK licence for a new 2.5mg Felimazole tablet

April 2005

Granted a range extension for a 30mg Vetoryl capsule

April 2005

Opened a US operation based in Kansas City

April 2005

Acquired Vetivex®, a licensed veterinary fluid therapy product, for £0.8m

Revenue*

£ million

210.3

Underlying Profit
Before Taxation

£ million

9.7

Dividend per Share

pence

4.78

1 July 2005 to 30 June 2006

July 2005

Received approval to market Vetoryl in 19 major European countries

June 2006

Signed a development and marketing agreement for Vetoryl in Japan with Kyoritsu Seiyaku

Revenue

£ million

232.5

Underlying Profit
Before Taxation

£ million

11.0

Dividend per Share

pence

5.73

1 July 2006 to 30 June 2007

December 2006

Acquired the intellectual property for Equidone® Gel

April 2007

Acquired Leeds Veterinary Laboratories for £0.75 million

May 2007

Secured a long term trademark licence and marketing agreement with Pharmaderm Animal Health for a consideration of US$5.0million, to supply a range of dermatological ophthalmic and optic products to the US veterinary market

Revenue

£ million

253.8

Underlying Profit
Before Taxation

£ million

12.7

Dividend per Share

pence

6.89

1 July 2007 to 30 June 2008

January 2008

Acquired VetXX® Holding A/S, a leading developer, producer and marketer of companion animal products, for a total consideration of £61.7 million

Revenue

£ million

304.4

Underlying Profit
Before Taxation

£ million

16.9

Dividend per Share

pence

7.58

1 July 2008 to 30 June 2009

December 2008

VetXX integrated and rebranded Dechra Veterinary Products

December 2008

Received FDA approval for Vetoryl in the USA

May 2009

New therapeutic canine diet developed and marketed to aid treatment of osteoarthritis in dogs, known as Specific® CJD

June 2009

Received approval to market Felimazole in USA

Revenue

£ million

350.0

Underlying Profit
Before Taxation

£ million

23.4

Dividend per Share

pence

8.36

1 July 2009 to 30 June 2010

November 2009

Achieved mutual recognition of Malaseb® in 17 European countries

February 2010

DVP UK's logistics and finance function integrated into a central logistic and shared service centre in Uldum, Denmark

Revenue

£ million

369.4

Underlying Profit
Before Taxation

£ million

26.1

Dividend per Share

pence

9.64

1 July 2010 to 30 June 2011

October 2010

Acquired DermaPet® Inc., a Florida based dermatological business, for a potential consideration of US$64.0 million. The acquisition strengthened Dechra's position as a leader in the worldwide veterinary dermatological market

December 2010

Acquired Gentrix® Limited, a privately owned veterinary company with a range of products complementary to Dechra's, for a potential total consideration of £6.4 million

Revenue

£ million

389.2

Underlying Profit
Before Taxation

£ million

30.1

Dividend per Share

pence

11.12

1 July 2011 to 30 June 2012

January 2012

Acquired the worldwide rights (excluding Canada) to HY-50® for a cash consideration of 8.03 million Canadian dollars

May 2012

Acquired Eurovet® Animal Health B.V., an expert in developing, registering, producing and marketing added value, companion and farm animal veterinary pharmaceutical products, for a total cash consideration of €135 million

Revenue

£ million

426.0

Underlying Profit
Before Taxation

£ million

33.0

Dividend per Share

pence

12.27

* From this point forward reported under IFRS.

Adjusted for the bonus element of the Rights Issue.

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