United Drug acquires global events mgt company

United Drug acquires global events management company

UDG.I UDG.L

Dublin and London, 01 December 2010: United Drug plc ("UD" or the "Group"), a leading international provider of services to healthcare manufacturers and pharmaceutical retailers today announced that it has acquired the entire issued share capital of World Events Group Limited ("World Events" or "The Company") for a consideration of £13.5 million.

Transaction highlights

·; The acquisition increases UD's existing events management capability and provides a global offering for our international pharmaceutical manufacturer customers.

·; The consideration of £13.5 million in cash is payable on completion with an additional amount of up to £2.7 million payable based on achievement of agreed profit targets over the next 3 years.

·; The acquisition will be financed from UD's internal resources and existing debt facilities.

·; The transaction is expected to be immediately accretive to UD earnings.

World Events

World Events Group Limited is a leading events management company providing event management, logistics and marketing services to international pharmaceutical manufacturers. Headquartered in the UK, employing over 100 people, the company also has offices in the US, Asia and throughout Europe.

World Events will be integrated into the Group's Contract Sales and Marketing Services division.

Speaking about the acquisition today, United Drug's Chief Executive, Liam FitzGerald said:

"We are delighted to announce the acquisition of World Events. The acquisition, along with our existing events management business, will allow us meet the growing demand for a global event management service from international pharmaceutical manufacturers. World Events has an excellent management team and I am delighted to welcome them to the Group."

ENDS Wednesday, 01 December 2010

For reference:

Liam FitzGerald Pauline McAlester

Barry McGrane

United Drug plc Murray Consultants

Tel: +353-1-4632300 Tel: +353-1-4980300

About United Drug plc

Listed on the Stock Exchanges in London and Dublin, United Drug is a leading international provider of services to healthcare manufacturers and pharmaceutical retailers, with operations in the UK, Ireland, the Netherlands, Belgium, Sweden and the USA. 

The Company operates across three divisions, Healthcare Supply Chain, Packaging & Speciality Services, and Contract Sales & Marketing Services.

In Healthcare Supply Chain, United Drug is the largest pharmaceutical wholesaler in the island of Ireland. It is also the market leader in contract distribution outsourcing (pre-wholesaling) in Ireland and has achieved the No. 1 position in the UK through its joint venture business UniDrug Distribution Group (UDG). The Company provides specials medicines manufacturing and distribution services in the UK. Through its medical & scientific operations, United Drug provides sales & marketing and technical service solutions, including contract distribution services to a wide range of medical & scientific equipment & consumable manufacturers, with a market leading position in Ireland and an emerging presence in the UK.

In the Contract Sales & Marketing Services division United Drug is the leading provider of contract sales outsourcing services to pharmaceutical manufacturers in the UK and Ireland and has a growing presence in the US market. United Drug also provides related marketing services to pharmaceutical manufacturers in each of these markets.

In the Packaging & Speciality division United Drug is a leading international provider of pharmaceutical contract packaging services with facilities in the US, UK, Dutch and Belgian markets. The Company also provides speciality distribution and homecare services in the UK and Ireland.

For more information go to www.united-drug.ie