NZP buys UK-based Dextra

New Zealand Pharmaceuticals has bought Dextra Laboratories in Britain for an undisclosed sum.

Dextra is a subsidiary of drug development company Summit Plc and employs 20 technical staff, including 12 PhD chemists. NZP is a Palmerston North-based private company 51 per cent owned by private equity investor Direct Capital.

Managing director Richard Garland said the investment would enable NZP to expand into new markets and offer a more diverse range of products.