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Dechra Pharmaceuticals secures rights to market Tri-Solfen; acquires further stake in Medical Ethics
StockMarketWire.com
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Dechra Pharmaceuticals said it had secured the rights to market Tri-Solfen in Australia and New Zealand and had acquired a further 1.5% stake in Medical Ethics for AUD$ 32.5 million, or £18.1 million.
The rights would provide Dechra the rights to sell Tri-Solfen, an important pain management product, in all international markets.
Under the terms of the agreement, Dechra had agreed to make an upfront payment of AUD$ 5 million (£2.8 million) on signing, with the balance of the payment on the first commercial sale by Dechra into the Australian market which was expected in July 2021.
A royalty would also be paid on all net sales.
'Following the acquisition from the current shareholders of the additional 1.5% of the issued share capital of Medical Ethics, the parent company of Animal Ethics, Dechra will hold 49.5% of the issued share capital of Medical Ethics,' the company said.
Story provided by StockMarketWire.com
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