Dechra Pharmaceuticals PLC entered an A$18.0 million deal to acquire 33% of Medical Ethics Pty Ltd.
Medical Ethics is the parent company of Animal Ethics Pty. Ltd., which has sold the rights of its Tri-Solfen treatment to Dechra Pharmaceuticals for all regions except Australia and New Zealand.
Dechra will have a seat on the Medical Ethics board and minority shareholder rights.
Tri-Solfen is a painkiller used during routine treatments of farm animals such as castration, tail docking, debudding and dehorning.
As of March 30, US$1 was equivalent to A$1.30.