Dechra and belcher, a division of geopharma inc

Issued by Citigate Dewe Rogerson Limited, Birmingham
Date: Thursday, 17 February 2005
Dechra Pharmaceuticals PLC
Dechra secures worldwide sales & marketing rights for new product range

Dechra Pharmaceuticals PLC (“Dechra” or “the Group”) has signed a worldwide marketing agreement
with Belcher Pharmaceuticals, Inc. (“Belcher”), a wholly owned subsidiary of GeoPharma, Inc., based
in Largo, Florida, USA.
The agreement will provide Dechra with exclusive worldwide sales and marketing rights for the animal
application to Belcher’s levothyroxine liquid and tablets, used to control hypothyroidism in dogs.
Under the agreement, Dechra will own all trade names associated with the products, and will be
responsible for all registrations. Belcher will retain all intellectual property rights to the chemistry and
manufacturing procedure of the products.

A tablet preparation of the product with enhanced stability (patent applied) will be launched
immediately by Dechra in the United States, a market which is estimated to be worth approximately
US$9 million. A further unique liquid preparation (patent applied) is currently being developed, with an
anticipated launch in the USA within 12 months.
Dechra will pay Belcher a license fee of US$0.5 million. Thereafter, profits will be split equally between
the Group and Belcher, following the deduction of manufacturing and direct marketing costs.
Ian Page, Chief Executive of Dechra Pharmaceuticals PLC commented:

“The agreement with Belcher for the Levothyroxine product range will allow us to establish ourselves
in the American veterinary endocrine market ahead of the registration of our own key products,
Vetoryl® and Felimazole®.

“This partnership is a significant step forward in our on-going strategy to develop our own licensed
veterinary pharmaceutical portfolio in key international territories.”

Mihir Taneja, GeoPharma’s Chief Executive Officer added:
“We continue to expand our distribution network through partnerships with market leading companies, such as Dechra. We expect the success of this partnership to lead to further collaboration in the veterinary markets.”

Enquiries:
Dechra Pharmaceuticals PLC
Citigate Dewe Rogerson
Mobile: 07775 642222 (IP) or 07775 642220 (SE) Mobile: 07785 703523 (FMT) www.dechra.com Editors Background Notes:

About Dechra Pharmaceuticals PLC (Reuters: DPH.L)
www.dechra.com

Dechra Pharmaceuticals are specialists in the UK and international veterinary and animal healthcare
markets. Key to the Group’s strategy is the development of its veterinary pharmaceuticals portfolio.
The business is split into two divisions: the Pharmaceutical division which includes Arnolds Veterinary
Products, Dechra Veterinary Products (USA) and Dales Pharmaceuticals and the Services division
which includes National Veterinary Services, NationWide Laboratories, Cambridge Specialist
Laboratory Services and Vetcom Practice Management Systems.
Dechra is quoted on the London Stock Exchange (under pharmaceuticals and biotech).
About GeoPharma, Inc. (Nasdaq: GORX)
www.onlineihp.com
www.leanprotein.com
www.carbslim.com

GeoPharma, Inc. is a rapidly growing pharmaceutical company specialising in the manufacturing and
distribution of over-the-counter, nutritional, generic drug and functional food products. The Company’s
growth strategy is to capitalise on its manufacturing expertise to develop high margin generic or novel
drugs for niche human and animal health markets with high barriers to entry. GeoPharma’s
competitive advantage lies in its ability to circumvent or overcome the challenges in these markets.

Source: http://www.dechraplc.com/Files/dechraPLC/downloads/regulatorynews/2005/Belcher-_17_February_2005.pdf