"The group has now moved on from its historic activities and has a clear strategy to create, deliver and realise shareholder value in each of its businesses," said Roger McDowell, the chairman of Hargreaves. The investor presentation on Wednesday by ECO Animal Health Group PLC must have been a belter because the shares hardened 18% this week. ECO started a programme of significant research & development investment in vaccines around four years ago and has seen meaningful progress, it told investors.