In a recent report, it has been confirmed that PET drugs firm Dechra Pharmaceutical is all set to acquire Eurovet Animal Health. With the news hitting the contours of the market, it has received positive response from one and all, with shares of the company rising.
Eurovet, which is based in the Netherlands, has been working in the pet and farm animal markets for a long time. However, the company has sales and marketing operations in Cambridge, Germany, Belgium and Denmark.
It was in year 2011 that the company reported sales of £64m and an operating profit of £8.5m. It is believed that Eurovet’s products, geographies, manufacturing competencies are apt for Dechra, which would prove out to be a win-win proposition for both the sides.
“This is a great opportunity to build on the strong foundation we have created for our pharmaceuticals business, Dechra Veterinary Products”, said Ian Page, Dechra Pharmaceutical’s Chief Executive.
The company is of the view that this move could make its presence more firm in the European market, as it would make its product portfolio stronger. It would be worth seeing how things are going to be in the time to come.
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