Dechra Pharmaceuticals Share Discussion Threads

[weemonkey] 18/4/2007 10:52

third time lucky through resistance of 320?

[weemonkey] 20/12/2006 13:21

there was a big broker upgrade by I think dresdner kleinwort with a price target of 3.40 for this stock and why not. making anew high today anyway. will it close there that is the qustion

[weemonkey] 05/12/2006 17:10

also big pharma has gone out of fashion for the moment hence the slide

[killieboy] 23/11/2006 11:11

Agree, cannot understand slide - can you?

Killieboy

[zchanl1] 23/11/2006 01:01

nice stock. watchlist.

[weemonkey] 21/11/2006 15:52

did anyone see anything wrong with that annual report

I certainly did not

[killieboy] 06/10/2006 09:58

Weemonkey,

I agree

1. Gives access to a pharma stock that does not involve injecting humans!!

2. People look after pets better than family (and spend more on them (healthwise)).

Decent long term hold I believe.

Killieboy

[weemonkey] 04/10/2006 12:18

what does everyone else think

a real buffet stock

pets are on the increase in a lonely world
pets are not litigious.
this has got to be a market that just grows and grows.

looking very nice at the moment I must say

[shuisky] 10/7/2006 08:51

decent trading update today. growth has slowed a bit in the second half, but then it was coming off unsustainably high levels. Revenues from Vetroyl in Europe will start to kick in nextyear and US approval plans going according to plan. In summary, steady as she goes.

I've been perplexed by consisent selling of this stock, and havebeen nibbling away on any weakness. Why anyone would want to sell a company with DPH's fundamentals is beyond me. Not least because ithas v little exposure to cyclical economic growth.

[last-in] 29/6/2006 14:01

Looks as though it has run out of steam - few buyers today

Will have to wait for next weeks trading statement. The last I found was 9th Jan repeated with the results 28th Feb which just said "in-line with management expectations" -

[shuisky] 28/6/2006 15:31

The year end is 30 June so if there is going to be a trading update, i suspect it will come shortly after that date.

[dwsmithdhf] 28/6/2006 15:01

Based on last year we are due a trading statement in the next few days. Maybe it will be positive and hence the price movement!!

[last-in] 28/6/2006 14:25

Volume is light but currently 249.5 - so 260 this week, tomorrow even?

2 days of strong rises without news !

[kidney] 27/6/2006 20:54

Can't understand the volatility this year.Can anyone enlighten me?Hope to see 260p again soon...!

[weemonkey] 23/5/2006 12:53

have bought a few of these today

one to tuck away and hold forever I hope

liked the fundementals very much

and the recent decline seemed like a buying opportunity

we shall see

[piedro] 26/4/2006 18:56

shuisky - Thank you.

[shuisky] 26/4/2006 13:07

piedro,



'The Group also continues to make progress on Vetoryl Capsules in the USA.
Feedback has been received from the FDA on both safety and efficacy, and as a
result we will shortly commence supportive USA based trials to complete the
regulatory application package. The trial work is expected to be completed in
late 2007.'

..which is later than analysts had forecasts, as I indicated in my earlier post.

As for today's drop, I am genuinely mystified. Has this been tipped somewhere? There seems to have bee an avalanche of 1-2k sells for no apparent reason, and it doesn't look like the mm's are taking any prisoners today.

[piedro] 19/4/2006 19:27

Shuisky,

I very rarely follow my broker's advice and didn't sell.
Being one of my slower growth stocks, (33% pa), I didn't top up either.

I have not as yet seen a company reference to the delay and would be grateful if you could pass me the link.

Regards............ P.

[shuisky] 19/4/2006 17:50

There has been a delay, and revenue streams forecasts from US approvals have had to be pushed further out. The share price was hit as a consequence. So short term your broker was right, but I hoped he advised you back in after the share had fallen! Frankly, I don't go for this kind of chopping & changing because you can very easily miss the move. The stock's undervalued, IMHO, and the recent fall made it even more undervalued.

The selling creates an entry point opportunity, and those of us who are long term holders have preferred to top up at low levels. Does a delay in say 6 months for approval really make DPH undervalued at current levels? What's the worst that can happen here?

The worst case scenario is that they don't get approval and you are left holding a cash-cow company generating 5-6% free cash flow, with low single digit growth prospects, but who still has the ability to increase margins by increasing pharma sales in Europe/UK. The downside is limited, and the upside is attractive.

[piedro] 19/4/2006 11:38

Seems that share price is in hurry to make up for lost ground.

In Febuary my broker suggested selling as there was a delay with the US drug approvals. The word 'delay' normally denotes a holdup or slowing down of which there has been no reference in the Interim Report or since.
It would seem that rumour has been based on malicious use of the word 'delay' to denote that drug approval is a long drawn out process that takes time.

[simon gordon] 27/1/2006 10:29

Evolution have put out a new buy note which is the probable reason for the bounce.

[shuisky] 23/1/2006 18:43

Hi Kidney, the sell off that you refer too, actually took place in Jan 03. It was due to a trading update that warned of slowing sales at NVS. As I 've alluded to earlier this was dfue to customers building up inventory, and therefore leading to short term drop off in demand.

Of course, this could happen again. However, bearing in mind what they said in ther last trading statement...

'Current trading has continued in line with management expectations, with Group
revenue growth of approximately 11%. This reflects both strong market conditions
and increased market share'

...it doesn't appear to be something, that is going to happen anytime soon!!!

I'm afraid this fall really is all about the delay in Vetoryl approval.

[kidney] 23/1/2006 14:16

Agree,this is a big sell off the likes of which have not been seen since the end of 2002.Momentum fallen off.However,the chart is not so terrible that a little tick up in share price won't remedy.Maybe,this is the low?
Barclays are in...rns 20 Jan.
Just hope that market sentiment does'nt turn against Dechra which has chugged along so well since 50p in Jan 2003 with no scandals etc.

[shuisky] 23/1/2006 10:27

A drop on sales would hurt them, and it is most likely to occur as a consequence of customer inventory build. NVS operates as a technical monopoly, so pressure on sales/margins is unlikely. NVS' monopoly was investigated a few years back.

It's hard quantify a likely market cap for DPH in 5 years time. For example, the market for Vetoryl in the States is believed to be 10 times that in the UK, and as I understand it Vetoryl is the best solution for Cushings disease. Likewise, DPH are hoping for increased sakes of both Felimazole and Vetoryl to come through in Europe, as their expansion plans gather pace. The pharma distribution division is stepping up expansion in the States in preparation for approval of V & F.

The growth prospects are centred around pharma, and I view NVS as the cashcow which will enable them to reduce debt and increase investment in their own branded products.

There is very good future growth potential here, and on a free cash flow basis this stock is very cheap. I do not believe that the stock deserves such a sell of, just because of a delay in getting approval for Vetoryl. Unfortunately, sentiment is against us and the stock keeps falling. I find this very frustrating, but am minded to keep some powder dry in order to buy some more.