Dechra Pharmaceuticals

Dechra Pharmaceuticals (“Dechra”) is a global developer and manufacturer of novel and differentiated generic animal health pharmaceuticals focused on companion animals (“CAP”). Headquartered in Northwich, UK, the business was listed from 2001 to 2024, when EQT, along with a consortium of co-investors, took the business private in one of the largest UK healthcare sponsor-backed take-privates ever.

It has a broad portfolio across niche specialty therapeutic areas, including endocrinology, dermatology, anaesthesia and pain & inflammation, and a global presence with an established technical salesforce that distributes directly into ~25 countries and into >60 others via distributors.

Market trends and drivers

Dechra operates in the highly-attractive global pet animal health market, benefitting from several secular trends including the growth in pet ownership, average life span, advancements in diagnostics, and the “humanization of pets”. This is a market EQT has successfully invested behind multiple times through investments in IVC Evidensia, zooplus, ManyPets and Musti Group.

Investment potential

EQT will focus on driving commercial excellence in the business, through salesforce optimisation, including data-driven decision making and key account management, pricing discipline, wider international expansion and operational improvements within both the in-house and external manufacturing footprint.

EQT will also look to further Dechra’s focus on innovation, driving successful delivery of Dechra’s attractive pipeline and supplementing further with unique, novel products for currently unmet needs in the animal health space.