Animalcare Group PLC (LON:ANCR) expects to launch Cortacare, a dermatitis treatment for dogs, in Europe in the fourth quarter after receiving marketing approval.
The company said the Committee for Medicinal Products for Veterinary Use (CVMP) has recommended European marketing authorisation for Cortacare.
Animalcare plans to launch the product through its direct sales operations in seven European countries and international distribution network.
READ: Animalcare impresses with its European ambitions
Cortacare is a corticosteroid designed to reduce inflammation and itching for dogs with dermatitis.
"As part of the reprioritisation of our product development pipeline we identified 17 core development products," said chief executive Chris Cardon.
"We are pleased to see the first of these receive a positive recommendation from the CVMP, which paves the way for the commercialisation of this wholly owned product across Europe and expands our existing dermatology portfolio."
In morning trading, shares fell 1.2% to 155p each.