Research on Eco Animal Health Group PLC (EAH:LON) from Equity Development
Following the announcement in December 2025 of European Commission marketing authorisation, Eco Animal Health has announced its commercialisation roadmap for deployment of ECOVAXXIN® MS across key European territories in 2026/27. The Group notes that it expects sales of ECOVAXXIN® MS to be immediately margin accretive and, from FY28, make a “material contribution to EBITDA”. In line with Group estimates, we expect peak ECOVAXXIN®MS revenue of c.£22m1 by 2031. ECO has outlined a clear path towards commercial contribution from ECOVAXXIN® MS - the first in a pipeline of nine major new products under development. Consequently, we are now comfortable in extending our outlook to FY28E. Our Fair Value increases to 153p/share.