Dechra, the UK-based veterinary pharmaceuticals group has secured worldwide rights of a new drug used to treat lameness in horses.
The deal is worth more than £5 million. The agreement with Bexinc covers the rights to the drug, HY-50, everywhere but Canada.
HY-50 is used for intra-articular (IA) or intravenous (IV) treatment of lameness in horses caused by joint dysfunction.
In Europe it is the only single injection to deliver 50mg of sodium hyaluronate and having both IA and IV indications.
For the 12 months up to February 28th 2011, HY-50 earned revenue of $2.2 million and operating income of $1.0 million.
Ian Page, Dechra group chief executive, said: "This product acquisition further strengthens our specialist equine portfolio and will be earnings enhancing in the first full year of ownership."
Earlier this month, Dechra announced it is to launch a phenylpropanolamine product to treat canine USMI to the Irish market.
Posted by Neil Clark