The Board of Dechra Pharmaceuticals PLC (LON:DPH) is pleased to announce the acquisition of Ampharmco LLC and its associated holding companies, Dragon Fire Holdings LLC and Black Griffin Holdings LLC together with its manufacturing site based in Fort Worth, Texas, for a cash consideration of USD 30.0 million (£24.5 million)1.
APC was originally founded in 1999 as a veterinary contract manufacturer specialising in companion animal products (CAP) and subsequently received FDA approval for two veterinary generic products, one of which, Gentamicin-Betamethasone Topical Spray, is currently marketed by Dechra. The other product, Carprofen Chewable Tablets, is currently marketed by another international animal health company. APC will also provide Dechra with an FDA registered facility to manufacture solid dose, liquids, creams and ointments, which will significantly strengthen our manufacturing capabilities for the North American market. APC also has a small pipeline of CAP products which will complement our existing US product portfolio.
Ian Page, Dechra’s Chief Executive Officer commented: “We are pleased to have completed the acquisition of APC which allows us to bring in-house manufacturing for a number of our currently outsourced products in the US market and will, in the longer term, also add to our US portfolio of approved CAP products.”
1) Translated at USD 1.22205: GBP 1.0000 (closing rate on 28 August 2019)