- Dechra said it had agreed terms to acquire the global rights to the Osurnia product portfolio from Elanco Animal Health for $135m.

The addition of Osurnia - a long acting treatment for otitis externa (inflammation of the outer ear) in dogs - to the Dechra dermatology portfolio would 'significantly enhance its presence in this key therapeutic area and complete its otitis externa service offering to veterinarians,' Dechra said.

Under the terms of the deal, Dechra may be required to pay Elanco a break fee of $13.5m for failing to perform certain actions by 24 June 2020 or if the transaction was terminated by Dechra prior to 20 April 2020, it added.

Completion of the deal was expected before the end of June 2020 following the satisfaction of a number of conditions precedent.

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