Dechra Pharmaceuticals PLC is an English-based manufacturer of veterinary products. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The Company was founded in 1997 by way of a management buy-out from Lloyds Chemists. It was first listed on the London Stock Exchange in 2000. In 2007 it bought VetXX, a Danish veterinary products business, for £62m. It sold its veterinary services business to US-firm, Patterson Companies, for £87.5m in July 2013 in order to focus on its higher margin manufacturing business. The Company sells pharmaceuticals - mainly for dogs, cats, equine and food producing animals; products include Vetoryl for Cushings disease in dogs and Felimazole for hyperthyroidism in cats. It is organised into two divisions: European Pharmaceuticals and US Pharmaceuticals.