Since 2013, our priorities for each Strategic Growth Driver and Enabler have been clearly defined and communicated and are outlined in the table opposite. In this section of the Annual Report we describe the progress we have made towards achieving our strategic objectives.
Generate long term value for shareholders
International specialist veterinary pharmaceuticals and related products business
Strategic Growth Drivers
Strategic Enablers
Manufacturing and Supply Chain
Dechra Values
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Our Strategic Growth Drivers
Deliver our pipeline on time, at the right costs and with the expected returns.
Refill the pipeline so that we get a constant flow of new products in future years.
Our Progress in 2018
- Two further Poultry Vaccines registered in EU: Avishield® IBH120 and ND B1.
- Launch of further Amoxi-Clav dose sizes to complete range for the USA market.
- In-licensing of major new products including Redonyl® Ultra, Vetradent® and BioEquin®.
- Progress in co-development licensing opportunities.
Future Priorities
- Continue to identify innovative development opportunities.
- Further develop Dechra laboratory network, including further FDA licensing.
- Continue to develop Vaccines pipeline.
- Explore and negotiate further in-licensing deals.
- Prepare for registration and launch of Tri-Solfen®.
Link to Strategy in Action
Vaccines
See Strategy in Action: Pipeline Delivery
Maximise our revenue by increasing market penetration, focusing on targeted therapeutic sectors within CAP, Equine, FAP and Nutrition.
Our Progress in 2018
- Resolution of Nutrition supply and palatability issues, and launch of refreshed cat diets.
- Strong growth in European FAP following antibiotic product alignment and range additions.
- Leveraging CAP product success to increase penetration across Group.
- Continued growth in Equine, with stronger growth in Europe from market penetration and range additions.
Future Priorities
- Deepen market penetration of existing products across all territories.
- Enhance Nutrition and FAP sales growth.
- Continue to drive marketing and sales force effectiveness.
Link to Strategy in Action
Enhancing our Specific Portfolio
See Strategy in Action: Portfolio Focus
Leverage our product portfolio into new geographic regions through distribution partners, in-country presence and new country product registrations.
Our Progress in 2018
- Over 80 new country registrations of existing portfolio products.
- Acquisition of RxVet expanding our presence in New Zealand, route to market, and dis-intermediating distribution margin.
- Successful establishment of the Dechra Veterinary Products (DVP) International team.
- Development of international registrations strategy and prioritisation plan.
Future Priorities
- Develop Dechra Veterinary Products International business.
- Continue to leverage current registration portfolio in newer territories.
- Increase international country registrations.
Link to Strategy in Action
Expansion into New Zealand
See Strategy in Action: Geographical Expansion
Expand our geographical footprint and/or enhance our product portfolio through acquisition.
Our Progress in 2018
- Acquisition and successful integration of RxVet, expanding our presence in New Zealand, route to market, and dis-intermediating distribution margin.
- First full year of Apex, which opened up new bridgehead into Australasia and South East Asia.
- Acquisition and successful initial integration of AST Farma and Le Vet, providing transformation in EU Pharmaceuticals' portfolio and pipeline.
Future Priorities
- Continue integration and leverage of recent acquisitions.
- Acquire businesses in target geographical/therapeutic markets.
Link to Strategy in Action
Integration of AST Farma/Le Vet
See Strategy in Action: Acquisition
Our strategic enablers, Manufacturing and Supply Chain, People and Technology, support the execution of our strategy.
Our Progress in 2018
- Progress in execution of Manufacturing remodelling strategy, in Zagreb (inbound transfers) and Bladel (FDA) in particular.
- 12 months without a lost time accident.
- Completion of employee engagement survey, providing valuable feedback.
- Successful implementation of the European Oracle project and completion of Hyperion suite.
Future Priorities
- Execute Manufacturing and Supply Chain remodelling strategy.
- Develop and integrate procurement activities.
- Continue to develop leadership effectiveness, and quality of talent.
- Continue to develop Oracle ERP and other business systems.
Link to Strategy in Action
Corporate Social Responsibility Report
See our Employee Engagement Survey and Health and Safety
Chairman and Chief Executive Officer's Report
See Technology