Last checked at 6 Sep 2012 07:00
Animalcare Group plc
("Animalcare" or the "Group")
Launch of New Veterinary Medicine
Animalcare Group plc (AIM: ANCR) a leading supplier of veterinary medicines, announces the UK and Ireland launch of a new product, Vitofyllin, a tablet prescribed for problems associated with canine ageing.
Vitofyllin(propentofylline) fits well into Animalcare's growing portfolio of products to treat chronic diseases and conditions of old age in pets. In this case Vitofyllin is a central nervous system stimulant for older dogs suffering from dullness, poor demeanour and unwillingness to exercise. The market for Vitofyllin in the UK and Ireland is worth approximately £1.5m per annum.
Vitofyllin represents a major success for Animalcare's in-house development efforts. Operating under the project name Quattro, the project is a collaboration between Animalcare and three of its European partners. Furthermore the project has enhanced Animalcare's in-house expertise because the active ingredient for the product was unavailable in the market and had to be contract synthesised, a first for a new product development at Animalcare. The regulatory procedure was also the first time a bioequivalence bio-waiver had been successfully applied for and obtained in Europe. This made the development quicker, more cost effective, less risky and importantly avoided the need for animal testing.
As in previous years the Group has targeted the launch of four new veterinary medicines during the year. This launch is the first of those planned for the new financial year and the Board is confident that the Group will deliver on this target.
Stephen Wildridge, CEO of Animalcare Group plc, said:
"We are very pleased to be able to add our new generic medicine Vitofyllin to our range of licensed veterinary medicines. The launch represents the culmination of the biggest development project undertaken by Animalcare and is the product of successful collaboration with members of our European partnership network.
The extent, magnitude and inherent risk of the project meant that it would not have been possible for Animalcare to take on this task alone. With our partners sharing the risk, the cost and their expertise we have been able to bring this product to market on time and on cost. At the same we have increased our own knowledge base which we can apply to other projects in the future."
For further information, please contact:
| Animalcare Group plc |
|
| |
| Stephen Wildridge (Chief Executive Officer) | 01904 487 601 |
| |
|
|
|
| |
N+1 Brewin (Nominated Advisor & Broker) |
| |||
Aubrey Powell / Richard Lindley | Tel: 020 3201 3155 / 0113 241 0126 | |||
|
| |||
Walbrook PR Ltd | Tel: 020 7933 8780 | |||
Paul McManus | 07980 541 893 or paul.mcmanus@walbrookpr.com | |||
Helen Westaway | 07841 917 679 or helen.westaway@walbrookpr.com | |||
About Animalcare plc - www.animalcaregroup.co.uk
Animalcare Group develops and sells goods and services to veterinary professionals principally for use in companion animals. It operates directly in the UK and through distribution and development partners in key markets in Western Europe.
Its principal product lines are licensed veterinary medicines and companion animal identification products and services.