Completion of the Acquisition of Mirataz
Dechra Acquires Worldwide Rights to the Mirataz® Product Portfolio
Further to the announcement on 17 March 2020, Dechra is pleased to announce that the acquisition of the worldwide rights of the Mirataz® product portfolio from Kindred Biosciences Incorporated has completed. The addition of Mirataz significantly enhances the Dechra portfolio and is fully complementary to its existing product offering to veterinarians.
Mirataz is the first and only FDA and EMA approved transdermal medication for the management of weight loss in cats, a major problem encountered by veterinarians and owners when treating other underlying medical conditions. Mirataz was launched in the US in July 2018 by KindredBio and the responsibility for sales in this market will transfer immediately to the Dechra US team. It has recently been approved in the EU for bodyweight gain in cats experiencing poor appetite and weight loss resulting from chronic medical conditions, and is expected to be launched in all European markets in the coming months. Mirataz is also in registration in other territories around the world. The acquisition is expected to be earnings enhancing for the financial year ending 30 June 2021.
Ian Page, Dechra’s Chief Executive Officer commented:
“We are delighted to complete the acquisition of the worldwide rights to Mirataz, a product that fits extremely well with our existing specialist portfolio. We recognise at this difficult time the importance of a strong balance sheet, however these opportunities are few and far between and it is important that we continue to strengthen the business for the future.”