Dechra Pharmaceuticals receives marketing approvals

2nd May 2014 13:25

Pharmaceuticals group Dechra announced it has received marketing approval from the US Food and Drug Administration and the UK Veterinary Medicines Directorate for its Equine Lameness Product and US Ophthalmics.The group's new product, Osphos, is expected to be launched towards the start of the next financial year after it has completed the manufacturing stage, which is anticipated to begin on June.Osphos, which is a clodronate injection, will be used for the control of clinical signs associated with navicular syndrome in horses. The studies, which were carried out relating to food safety given that horse is classed as a food producing species in Europe, are now complete and the European dossier will be filed imminently, the group said. The company also received approvals for two major sterile ophthalmic products, Vetropolycin and Vetropolycin HC, from the US, which will be re-launched following their transfer into a new manufacturing site. They were sold by the group up until January 2010 under an exclusive marketing agreement and at their peak sales were approximately $2.2m.Chief Executive Officer Ian Page said: "We are delighted to have also received approval for the re-launch of these major products. "In anticipation and ahead of approval, we have already manufactured first stocks and although the initial launch of these ranges will be sold to distributors immediately we do not anticipate there will be a material effect on group sales and profitability in the current financial year."As of 14:33, the share price had risen by 2.5% to 708p.WS