Since 2013, our priorities for each Strategic Growth Driver and Enabler have been clearly defined and communicated and are outlined in the table overleaf. In this section of the Annual Report we describe the progress we have made towards achieving our strategic objectives.

Strategic growth iconStrategic Growth Drivers

Pipeline delivery icon

Pipeline Delivery

Portfolio focus icon

Portfolio Focus

Geographical expansion icon

Geographical Expansion

Acquisition icon

Acquisition

Tick iconStrategic Enablers

Manufacturing icon

Manufacturing and Supply Chain

Technology icon

Technology

People icon

People

Dechra Values

Dedication

Enjoyment

Courage

Honesty

Relationships

Ambition

Our Strategic Priorities

Pipeline delivery icon Pipeline Delivery

We must deliver our pipeline on time, at the right costs and with the expected returns. It is also important that we refill the pipeline so that we get a constant flow of new products in future years.

Our Progress in 2017

  • Signed Animal Ethics licensing agreement, and building pipeline of other in-licensing opportunities.
  • Vaccines development strategy defined and new opportunities identified.
  • Zagreb product development laboratory commissioned and operational.
  • Putney's Amoxi-Clav tablet development completed and other projects continuing.
  • A number of minor FAP market authorisations gained.

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.

Link to Strategy in Action

Amoxi-Clav

Portfolio focus icon Portfolio Focus

We are a specialist veterinary pharmaceuticals business focused on CAP, Equine, FAP and Nutrition. We look to maximise our revenue by focusing on clearly defined therapeutic sectors.

Our Progress in 2017

  • Strong CAP and Equine growth continuing across the Group. FAP returned to growth.
  • Increased effective use of CRM tools in EU and NA.
  • Expanded sales force effectiveness training.
  • Unblocking of distribution channels for Putney products in the US has opened up market for enlarged NA business growth.

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

Our Key Therapeutic Areas

Geographical expansion icon Geographical Expansion

We have identified a number of markets that present both volume and profit opportunities in the medium to long term. Our entry strategies will vary depending on the local market dynamics.

Our Progress in 2017

  • Several international product registrations achieved.
  • Established Dechra Veterinary Products International business.
  • Commenced appointment of the Dechra Veterinary Products International team.

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

Dechra Veterinary Products International

Acquisition iconAcquisition

Our priority is to target strategic acquisitions that will expand our geographical footprint and/or enhance our product portfolio.

Our Progress in 2017

  • Successful integration and operation of Genera, Brovel, Putney and Apex.
  • Acquisition of Apex, opening up new bridgehead into Australasia and South East Asia.
  • Acquisition of 33.0% of Medical Ethics Pty Ltd provides the Group with secure access to novel therapeutic areas/product development.

Future Priorities

  • Continue integration and leverage of recent acquisitions.
  • Acquire businesses in target geographical/therapeutic markets.

Link to Strategy in Action

Integration of Acquisitions

Manufacturing iconTechnology iconPeople icon Strategic Enablers

Our strategic enablers, Manufacturing and Supply Chain, People and Technology, support the execution of our strategy.

Our Progress in 2017

  • Developed new Manufacturing and Supply Chain strategy.
  • Continued strengthening of Senior Executive Team with key appointments of Richard Cotton, Giles Coley, Anthony Lucas and Greig Rooney.
  • Ongoing progress in Oracle deployment.
  • IT user hardware standardised across the Group.

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

Manufacturing and Supply Chain

SET (Senior Executive Team)

People – 20th Anniversary