Dechra Pharmaceuticals’ medium-term outlook is underpinned by a sharpened portfolio focus, new product launches and geographic expansion. Solid performances on these fronts in FY15 have overcome the headwinds of a weaker euro and the continuing decline of antibiotic use in Europe. Revenue growth was up c 5.0% (c 10.0% CER), driven by the core CAP products in Europe, coupled with the US product launches, which more than offset continuing weakness in FAP and currency movements.
