U.K. Pet Drugmaker Dechra Sparks Share Tumble With Brexit Plans

Dechra Pharmaceuticals Plc, a maker of animal medicines, is looking at setting up dual testing facilities in the U.K. and European Union in preparation for Brexit, a sign companies are stepping up their contingency plans as politicians stumble over a future deal. The veterinary company sparked concern on Monday when it said it may need to spend as much as 2 million pounds ($2.6 million) in the event of a hard Brexit, in part to duplicate testing and move product registrations to the EU to avoid trade barriers. Most companies in the U.K. are preparing contingency plans as the British government and EU officials struggle to reach a deal over what their future relationship will look like.