4th Apr 2008 07:01
United Drug PLC04 April 2008 UNITED DRUG ANNOUNCES TWO UK ACQUISITIONS EXPANDING ITS CONTRACT SALES & MARKETING SERVICES DIVISION UDG.I UDG.L Dublin and London, 4 April 2008: United Drug plc ("UD" or the "Group"), aleading international provider of services to healthcare manufacturers andpharmaceutical retailers today announced that it has acquired the entire issuedshare capital of Universal Conference and Incentive Travel Limited ("Universal")and Business Edge Solutions & Training Limited ("BEST") for a total maximumconsideration of Stg£14.15 million. Both Universal and BEST will integrate into UD's Contract Sales & MarketingServices Division to continue to further broaden the service offering in thisgrowing division. The two businesses combined employ 150 people, includingsenior management, all of whom will stay with the businesses. Universal, head-quartered in Slough in Berkshire, provides event managementservices across the UK to pharmaceutical companies, both at the pre and postapproval stages of product development. The company also has offices in the USand generates approximately half of its revenues in that market through theprovision of an equivalent service offering to US pharmaceutical companies. BEST is based in St. Albans in Hertfordshire and provides a range of personal,sales and team effectiveness training programmes for pharmaceutical companies inthe UK market. The consideration for the two acquisitions is Stg£11.4 million in cash, payableon completion, plus an additional consideration of up to Stg£2.75 millionpayable based on achievement of agreed targets over the next three years. Speaking about the Company's acquisitions today, United Drug's Chief Executive,Liam FitzGerald said: "We are delighted to announce the acquisitions of Universal and BEST. These acquisitions allow us to further pursue our strategy of building a range of marketing related services around our core sales offering within the Contract Sales & Marketing Division. United Drug is increasingly well positioned to continue to benefit from the trend amongst pharmaceutical manufacturers to outsource non-core functions to specialist service providers. "I would like to welcome all management and staff of Universal and BEST to the United Drug organisation and look forward to working with them to build upon their success to date and to further our development as a leading international healthcare services company". ENDS. Friday, 4 April 2008 For reference: Liam FitzGerald Pauline McAlesterUnited Drug plc Murray ConsultantsTel: +353-1-4598877 Tel: +353-1-4980300 Investors and AnalystsMark Kenny/Jonathan NeilanK Capital SourceTel: +353-1-6315500 About United Drug plc United Drug is a leading international provider of services to healthcaremanufacturers and pharmaceutical retailers, with operations in the UK, Ireland,Holland, Belgium and the USA. The Company has a long-term track record of delivering double-digit profit, earnings and dividend growth. Over the last 20years pre-tax profits have grown at a compound annual rate of 21%. The Company operates across four divisions, Pharma Wholesale, Supply ChainServices, Medical & Scientific and Contract Sales & Marketing Services. United Drug is the largest pharmaceutical wholesaler in the island of Ireland.It is the market leader in contract distribution outsourcing (pre-wholesaling)in Ireland and has achieved the No. 1 position in the UK through its jointventure business UniDrug Distribution (UDG). The Company also provides distribution related services in the areas of pharmaceutical contract packagingand speciality distribution in the UK, Holland and Belgium. Through its Medical & Scientific division, United Drug provides sales &marketing and technical service solutions, including contract distributionservices to Medical & Scientific equipment & consumable manufacturers, with amarket leading position in Ireland and an emerging presence in the UK. United Drug is also a leading provider of contract sales outsourcing and relatedmarketing services to pharmaceutical manufacturers in the UK and Ireland andalso provides these services in the US market. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
UDG.L