Dechra has made a $200m acquisition of a US-based generic companion animal pharma business, part funded by a placing to raise £48.4m at 1100p, together with increased banking facilities. This adds critical mass in the US, with 11 marketed products and a pipeline of 10 in development. Dechra is paying ~4x Sales and 10.8x Gross Profit for a growing business, albeit one that is currently making a small loss. The deal is guided to be earnings enhancing from FY17 onwards
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$200m US acquisition and placing
- Published:
15 Mar 2016 -
Author:
Chris Glasper -
Pages:
3
Dechra has made a $200m acquisition of a US-based generic companion animal pharma business, part funded by a placing to raise £48.4m at 1100p, together with increased banking facilities. This adds critical mass in the US, with 11 marketed products and a pipeline of 10 in development. Dechra is paying ~4x Sales and 10.8x Gross Profit for a growing business, albeit one that is currently making a small loss. The deal is guided to be earnings enhancing from FY17 onwards