19 February
2025
ECO Animal Health Group
plc
("ECO" or
the "Company")
Disposal of non-core product lines
Disposal further streamlines ECO Animal
Health's product and pipeline focus
ECO
Animal Health Group plc (AIM: EAH), a rapidly growing global
animal health company with a portfolio of marketed veterinary
products and a maturing proprietary R&D pipeline, today
announces the disposal of certain non-core product lines to its
distribution partner in South Africa for a total consideration of
£491,000 (the "Transaction").
Continuing to
streamline the business
ECO is focused on treatment and prevention of disease
in pigs and poultry. The ECOmectin licences disposed of in the
Transaction are for use in sheep and cattle and include a range of
anti-parasitic treatments and have for some time been non-core to
ECO. All licences are specific to Southern Africa (South
Africa, Botswana, Namibia and Zambia). ECO's distribution partner
has manufactured and sold these products under licence for over 20
years and royalties were paid to ECO.
The
Transaction
Consideration of £491,000 was received in lieu of
pro-rata past and future royalties. Nil royalties were recorded in
the year ended 31 March 2024.
Reinvesting to
support our pipeline
The Board believes that the Transaction further
streamlines ECO's focus on its core species of pigs and poultry and
in particular on developing its highly innovative pipeline of
vaccines and preventatives. It is intended that the funds received
from the Transaction will be partly invested in research and
development to support new product development. It is also intended
that, subject to shareholder approval, a portion of the
consideration will be used in a share buy-back to satisfy the
future potential vesting of employee share incentives.
David Hallas, Chief
Executive Officer of ECO Animal Health Group plc, commented:
"The disposal of these non-core
assets aligns with our focus on swine and poultry and our
commitment to invest in our R&D pipeline. We are pleased that
the licences will be further developed by a committed owner.
"We continue to
look for value accretive licensing opportunities both within our
portfolio and outside and for opportunities to reinvest in the
R&D pipeline to support future growth."
-Ends-
For further
information please contact:
|
ECO Animal
Health Group plc
David Hallas (CEO)
Christopher Wilks (CFO)
|
020 8447 8899
|
|
Singer Capital
Markets (Nominated Adviser & Joint Broker)
Phil Davies
Sam Butcher
|
020 7496 3000
|
|
Investec
(Joint Broker)
Gary Clarence
Lydia Zychowska
|
020 7597 5970
|
|
Equity
Development
Hannah Crowe
Matt Evans
|
020 7065 2692
|
|
ICR Healthcare
(Financial PR)
Mary-Jane Elliott
Jessica Hodgson
|
020 3709 5700
ecoanimalhealth@consilium-comms.com
|
|
|
About ECO
Animal Health
ECO Animal Health is a world leader in animal
health, developing and marketing branded veterinary pharmaceuticals
globally, with expertise in antibiotics and vaccines for pigs and
poultry. We have a maturing proprietary R&D
pipeline.
Headquartered in the UK, with global offices
including R&D and manufacturing, we have marketing
authorisations in over 70 countries and employ over 200 people
worldwide.
Our lead product, Aivlosin® is a proprietary,
patented medication which is effective against both respiratory and
intestinal diseases in pigs and poultry.
Click here for more information: https://ecoanimalhealth.com
