Animalcare displayed “resilience and agility” in the face of economic headwinds
Revenues for 2022 were £71.6m, a 3.3 per cent decline, which the company said reflected a moderation in post-pandemic demand combined, with factors such as the conclusion of product distribution agreements and the application of EU laws in Spain designed to reduce antibiotic usage.
The chief executive officer, Jenny Winter said: "Operationally, we continue to make progress against our strategic objectives, including the ongoing pursuit of growth opportunities through M&A (mergers and acquisitions), partnerships and in-licensing. The licensing and research collaboration agreement with Orthros Medical, which we signed in March 2022, provides us with an exciting foothold in the promising field of VHH antibodies and strengthens our early-stage pipeline.”