Dechra Pharmaceuticals Share Discussion Threads

[lizafl] 28/2/2005 10:49

Seems to be quite a lot of buying ahead of tomorrow's results. Fingers crossed for a good day tomorrow!

[m.t.glass] 17/2/2005 22:48

This from across the pond:


GeoPharma's Belcher Subsidiary Signs Marketing Agreement with Dechra Pharmaceuticals
Thursday February 17, 8:30 am ET


LARGO, Fla., Feb. 17 /PRNewswire-FirstCall/ -- GeoPharma, Inc. (Nasdaq: GORX - News) today announces that its wholly owned subsidiary Belcher Pharmaceuticals has signed a worldwide marketing agreement with Dechra Pharmaceuticals PLC (LSE: DPH - News) for its levothyroxine liquid and tablets for animal health applications. Levothyroxine is used to treat hypothyroidism in dogs.
Under the terms of the agreement, Dechra will pay an upfront licensing fee of US$500,000 and both companies will share equally in all profits from sales after the deduction of manufacturing and marketing costs. Belcher Pharmaceuticals will produce the levothyroxine products for worldwide markets and transfer them to Dechra at cost of goods and Dechra will pay all worldwide marketing, licensing and registration costs.
In November 2004, the Company filed a patent on a novel method to stabilize the drug levothyroxine in a liquid form through its Belcher Pharmaceuticals subsidiary.

Mihir Taneja, GeoPharma's Chief Executive Officer, stated, "We continue to expand our distribution network through partnerships with market leading companies, such as Dechra. We expect the success of this partnership to lead to further collaboration in the veterinary markets."

Ian Page, Chief Executive Officer of Dechra Pharmaceuticals PLC, added, "The agreement with Belcher for the Levothyroxine product range will allow us to establish ourselves in the American veterinary endocrine market ahead of registration of our own developed key licensed products, Vetoryl(R) and Felimazole(R). This partnership is a significant step forward in our on-going strategy to develop our own licensed veterinary pharmaceutical portfolio in key international territories."

About GeoPharma, Inc.

GeoPharma, Inc. is a rapidly growing pharmaceutical company specializing in the manufacturing and distribution of over-the-counter, nutritional, generic drug and functional food products. The company's growth strategy is to capitalize on its manufacturing expertise to develop high margin generic or novel drugs for niche human and animal health markets with high barriers to entry. GeoPharma's competitive advantage lies in its ability to circumvent or overcome the challenges in these markets. For more about GeoPharma, Inc., go to our websites at , and .

About Dechra Pharmaceuticals

Dechra Pharmaceuticals are specialists in the UK and international veterinary and animal healthcare markets. Key to the Group's strategy is the development of its veterinary pharmaceuticals portfolio. The business is split into two divisions: the Pharmaceutical division, which includes Dechra Veterinary Products (USA), Arnolds Veterinary Products and Dales Pharmaceuticals, and the Services division, which includes National Veterinary Services, NationWide Laboratories, Cambridge Specialist Laboratory Services and VetCom Practice Management Systems. Dechra is quoted on the London Stock Exchange (under pharmaceuticals and biotech).

This press release may contain statements, which constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding the company and its subsidiaries' expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without management's control. Important factors that could cause such differences are described in the company's periodic filings with the Securities and Exchange Commission.




--------------------------------------------------------------------------------
Source: GeoPharma, Inc.

[lbo] 17/2/2005 12:14

BROKER RECOMMENDATIONS TODAY
Evolution says buy Amstrad and add Dechra!



Also The telegraph article on the 10th said!

"Investors looking for a relatively uneventful but offbeat investment could do worse than plump for Dechra, the Yorkshire-based pharmaceuticals company.

Dechra's share price has been on a steady trajectory upwards since January 2003 when it issued a profits warning. Its share price is trading at 198p, up 4½p yesterday, valuing the company at £100m.

It has risen consistently thanks to generally positive results, an enduring market share and new products.

Yesterday, it announced a further expansion in its range of veterinary products. One is Ovuplant – a controlled-release synthetic hormone used to stimulate ovulation in horses. Another, for dogs, is a drug called Vetoryl and the company has launched a new capsule size for smaller pooches.

The company has secured UK authorization of the product and will begin marketing it later this year. Vetoryl's UK sales currently stand at £1m a year, and management claim that the US market is 10 times bigger – the drug has been granted a fast-track review by the US Food and Drug Administration.

The company said in January that market conditions were improving. It expects to increase market share and deliver interim sales growth of 10pc.

Analysts predict sales this year to climb to £198m, up from £187m last year. Adjusted profits are forecast to rise to £9.2m, up from £8.1m.

This puts the shares on a forward rating of 16 times earnings, falling to 14.6 times in 2006. As with all pharma companies nothing is certain, but Dechra looks cheap. And it pays a dividend.

[maddox] 17/2/2005 11:09

Shuisky,

Thanks for your analysis - very insightful. From what you say much of the positive impact on revenue and profitability is thus still some way out. Is there anything that might give us an indication as to what the eventual impact might be? Is it likely to be a useful addition to current revenues, say 20% p.a. that would make the current p/e a fair valuation, or will it be transformational?

I'd welcome yoour opinion.

[shuisky] 16/2/2005 10:38

The blister pack is a minimal, but useful, addition to earnings. The growth story is in the expansion of sales to Europe via their marketing partner Janssen, and the possibility of obtaining FDA approval for Vetoryl and Felimazole in the States.

J only started distributing in France & Germany in the Autumn, and plan to roll out distribution across the rest of Europe consequently. The preliminary FDA meeting for Felimazole is on Mar 2, as stated in Nurdin's post.

The numbers are only being nudged upwards slightly because the analysts don't have hard feedback on Janssen's sales, nor can assume anything about FDA approval for F & V. They have just added in assumptions for Blister pack sales, plus a bit extra for the Canadian deal. Canada only has around 20m people, so don't expect too much.

Of course, the upside potential comes if European distribution goes well, and US approvals are granted. DPH isn't screamingly cheap, but it's underpinned by a very cash generative core business (NVQ) and has good upside potential with pharma. It's attractive.

[maddox] 15/2/2005 09:44

Thanks Nurdin,

What I'm interpreting from the info I've seen is that this is a pretty solid investment. They appear to have a good strategic position in their market and consolidating this through integration of services to vets. The growth story really rests on the development and licencing of new the drugs but I'm not getting a good understanding of the market potential for this.

What seems to undermine the 'exciting story' Evolution sees is mention of a smaller blister pack being relaunched?!? Also, I note that their only nudging up their numbers slightly. Are they deliberately understating the case?

[nurdin] 14/2/2005 21:53

This is what Evolution had to say in their latest update:

''Overall, the news today adds further momentum to the Dechra story and, in
conjunction with the positive pre-close trading update, we take the opportunity
to nudge our numbers up slightly.
The company has also provided an update on its preliminary FDA meeting for
Felimazole – this has now been granted for 2 March 2005 – and on the range
extension for Vetoryl, which will also see the product re-launched in smaller
blister packs.
Overall, Dechra is making for an exciting story of integrate veterinary
pharmaceutical services and product development. We anticipate the strong
trading in the first half to be reflected at interim results on 1 March.''

[maddox] 14/2/2005 21:30

Hi guys - just doing a bit of research on Dechra and like to get your opinions. The shares have come up quite a bit to their current 195.5p and p/e of 19.61. I'm wondering if there is much upside left to come?

What I cannot seem to find is a strongly stated view on the up-side potential. Would you like to give me a view?

Regards, Maddox

[cpurser] 10/2/2005 23:13

Tipped in Telegraph as "looking cheap"

[the old codger] 30/11/2004 14:42

Steady as she goes - quietly moving ahead. dyor imho TOC

[shuisky] 16/11/2004 13:30

It's difficult to see DPH as a bid target, because NVS holds a monopoloy. Any newcomer would have to accept that government action will restrict what they can do with NVS. I see NVS as a stable cash cow, with which the management can concentrate on improving margins by clipping at the cost base. Top line growth at NVS is likely to tickover at a low rate. The exciting part of DPH is pharma, and the expansion of their marketing activities. IMHO, the growth prospects are still not factored into the shareprice, so we still have upside potential. However, the risk is that the Debt/Equity level is high. Any problems with sales at NVS (as they had a couple of years ago) and DPH could fall substantially.

IMHO, they have proved that the restructuring has been successful, and the pharma developments are well on track. Happy to hold.

[cockneyrebel] 15/11/2004 15:08

PS - seems to have got a trot on since Zurich Financial took 5% in August.

CR

[cockneyrebel] 15/11/2004 15:06

These have been rising in a steady steep slope latey and a lot of buying today for what seems no reason - not tipped anywhere as far as I can see.

Anyone think these might be a bid target?

CR

[cockneyrebel] 11/11/2004 15:41

A nice steady trudge - nice to have in the porti

CR

[cockneyrebel] 05/11/2004 12:24

Breakout :-)

CR

[nurdin] 04/11/2004 12:00

yup..got a few of these.Its the money I have spent with my vet that persuaded me.....;o)

[cockneyrebel] 04/11/2004 11:59

Just pushing a breakout it seems :-)

CR

[cockneyrebel] 02/11/2004 11:49

Moving up - goes through 180p then there's no resistance till 230p.

CR

[cockneyrebel] 22/10/2004 12:40

Charles Stanley have put out a Buy Rec on these today I'm told :-)

CR

[nurdin] 22/10/2004 09:59

Got a few of these..nice one Cr :o)

[cockneyrebel] 21/10/2004 21:51

I don't believe you're still in here and haven't spoken about it for a year Cambium :-)

The beauty looks to be that the bb hasn't got any posts to talk about - that shows the punters are looking the other way.

They are ahead of forecast and look as if 14p could be easily achieved here, especially as they have a product going on sale in the US and have appointed a sales chief for out there.

40% growth on a PE of 12.5 or less - that is cheap isn't it! And a divi next week too. I reckon these could go a fair way pretty swiftly.

CR

[cambium] 21/10/2004 21:41

I thought everyone had given up on me, welcome CR

[cockneyrebel] 21/10/2004 20:36

And you pick up the divi next week :-)

CR

[cockneyrebel] 21/10/2004 15:50

Anyone seen the trading statement today?

Should get a few excited when they get home tonight - looks like the PE is probably 12 or less based on this statement - has traded on a lot higher ratios in the fairly recent past.

Could be more in this imo.




RNS Number:3205E
Dechra Pharmaceuticals PLC
21 October 2004
Issued By Citigate Dewe Rogerson, Birmingham
Date Thursday, 21 October 2004
Immediate Release
Dechra Pharmaceuticals PLC
Annual General Meeting
At the Annual General Meeting held today (21 October), Michael Redmond, Chairman
told shareholders:
"The new financial year has started very strongly with Group sales and profit
for the first quarter ended 30 September 2004 ahead of both our internal budgets
and the comparable period last year.
As planned, following the full EU licence gained through the mutual recognition
procedure, Felimazole(R) was launched in the French and German markets earlier
this month; we have been encouraged by the initial interest in the product. Our
European marketing partner, Janssen Animal Health, will also launch Felimazole
(R) in other European territories during 2005.
Additionally we have achieved further progress on Vetoryl(R). We have been
granted the authority to market our low dose (30mg strength) for small dog
breeds within the UK. Our project to licence Vetoryl(R) in the USA continues on
track; within this current financial year we expect to have filed all parts of
the dossier with the FDA for further guidance prior to licence approval.
In the 2004 Annual Report, we indicated that we were at an advanced stage in
appointing a US national to head up our American marketing. I am pleased to
announce that on 1 November 2004, Michael Eldred joins the Group as President of
Dechra Veterinary Products, our fledgling US operation. Mike has extensive
experience in the animal health sector, having held senior positions at several
leading veterinary pharmaceutical companies including Virbac Corporation and
Fort Dodge Animal Health.
I look forward to updating shareholders further on our progress at the time of
our interim results in March 2005."
All resolutions were duly passed.
Enquiries:
Ian Page, Chief Executive
Simon Evans, Group Finance Director Fiona Tooley, Director
Dechra(R) Pharmaceuticals PLC Citigate Dewe Rogerson
Mobile: [phone] (IP) or 07775 642220 (SE) Today: 0121 455 8370
Thereafter: 01782 771100 Mobile: [phone]
www.dechra.com
----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMEAEEFAFALFFE
For more information and to contact AFX: www.afxnews.com and
www.afxpress.com