Animalcare Group plc
("Animalcare", the "Company" or the "Group")
Daxocox (enflicoxib) approved for use by European Union and UK authorities
● Novel once-weekly COX-2 inhibitor to combat osteoarthritis-related breakthrough pain in dogs
● Virbac to distribute Daxocox in most European countries outside Animalcare's direct markets
22 April 2021. Animalcare Group plc (AIM: ANCR), the international animal health business, announces that, following a positive opinion received from the Committee for Medicinal Products for Veterinary Use (CVMP) as first announced on 18 February 2021, Daxocox (enflicoxib) has now been granted Marketing Authorisation for the European Union.
Daxocox is approved in Europe for the treatment of pain and inflammation associated with osteoarthritis (or degenerative joint disease) in dogs. Additionally, the Veterinary Medicines Directorate (VMD) has authorised Daxocox with the same indication for use in the United Kingdom. Available as a flavoured oral tablet, the dosing interval for the novel COX-2 inhibitor is once per week providing significant value and convenience through lasting relief from chronic and acute pain.
Matt Gurney, RCVS & EBVSTM European Veterinary Specialist in Anaesthesia & Analgesia and an advisor to Animalcare, said: "One of the biggest challenges with osteoarthritis is achieving optimal relief from pain. We know that a consistent approach to pain management helps control the multiple variables of arthritis and decreases the risk of pain breaking through. With its novel dosing regime, Daxocox offers an effective strategy against this breakthrough pain with all the quality-of-life benefits that can bring for patients."
Animalcare today also announces an agreement under which Virbac will distribute Daxocox in the majority of European countries outside Animalcare's seven direct markets. Virbac is the sixth largest animal health company worldwide and has existing distribution partnerships with Animalcare. The financial terms of the agreement have not been disclosed.
Jenny Winter, Chief Executive Officer of Animalcare Group plc, commented: "The approval of Daxocox represents an advance in the treatment of breakthrough pain associated with osteoarthritis. Veterinary professionals now have an effective and convenient new treatment option to help prevent episodes of osteoarthritis pain that can plague the quality of life for dogs, especially in middle-aged and older animals.
"This is also a milestone for our company and our growth ambitions. We are proud to have brought this much-needed new treatment to market through our internal development pipeline and we are excited at the prospects for Daxocox in what is a sizeable, fast-growing and competitive segment. By teaming up with Virbac, one of the world's biggest animal health companies, we are maximising the reach of Daxocox across Europe from day one."
Animalcare plans to launch Daxocox early in the second half of 2021, into an initial addressable European market estimated to be in the region of £130m. Looking further ahead, the Group aims to expand the potential for Daxocox and has initiated a series of life cycle management pipeline projects to target additional indications, formulations and territories. The development programme is led and managed by the Animalcare team. Daxocox is the sole property of Animalcare Group plc.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
For more information about Animalcare, please visit www.animalcaregroup.com or contact:
Animalcare Group plc
Jenny Winter, Chief Executive Officer
Chris Brewster, Chief Financial Officer
+44 (0)1904 487 687
Stifel Nicolaus Europe Limited
+44 (0)20 7710 7600
Freddy Crossley/Emma Earl
+44 (0)20 7886 2500
Animalcare Group plc is a UK AIM-listed international veterinary sales and marketing organisation. Animalcare operates in seven countries - Spain, Portugal, Italy, UK, Germany, Belgium and Netherlands - and exports to approximately 40 countries in Europe and worldwide. The Group is focused on bringing new and innovative products to market through its own development pipeline, partnerships and via acquisition.