Dechra Pharmaceuticals PLC has announced that it has acquired the entire issued share capital of Genitrix Limited ("Genitrix") from its owner managers for an initial cash consideration of £5.4 million, with a further £0.8 million being payable upon achievement of specific milestones.

Dechra says the acquisition of Genitrix is consistent with its strategy to grow its international veterinary pharmaceutical business. In the year ended 31 March 2010, Genitrix achieved revenues of £2.4 million.

Ian Page, Chief Executive of Dechra, said: "Genitrix range of equine and companion animal products enhances and complements our UK product portfolio.  Furthermore the recently approved canine epilepsy product, Libromide, provides future growth opportunities through potential mutual recognition in Europe.  The acquisition is expected to be earnings enhancing in the first full year following ownership."

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