US division helps drive 2.3% rise in annual growth at Dechra Pharma

8th Jul 2014 09:23

Dechra Pharmaceuticals said annual growth of 2.3% was driven by its US business, where its key products delivered a strong performance. In the year ended June 30th, the FTSE 250-listed specialist veterinary pharma group saw growth across all of its European Union markets, with the exception of the Netherlands, where the competitive environment and focus on antimicrobial reduction remained "challenging".Stateside, where revenue grew 3.4% at actual exchange rates, its performance was lifted by the re-launch of its Opthalmic range and the strong performances of Vetoryl and Felimazole, although growth was negatively impacted by previously reported supply issues.The division is planning to launch its new product, Osphos, in the first quarter of 2015 and is set to expand into the Canadian market in the second half of the next financial year. "Overall, group trading for the year [...] is in line with management expectations. We have addressed the known challenges during the year, made strong progress with product pipeline delivery, completed a strategic US acquisition and are expanding geographically. We remain well placed for future growth," Chief Executive Officer Ian Page said. Shares had fallen 0.27% to 731p by 08:25.NR