United Drug announces €35m acquisition

on 26/07/2012 09:30:44

United Drug has today announced that it has reached agreement to acquire logistics firm Pharmexx GmbH for €35m.

The acquisition is expected to complete by August 31 following receipt of the necessary regulatory clearances.

Employing more than 2,300 people, Pharmexx operates in 18 countries across Europe, North and South America.

The business is set to be integrated into the United Drug's sales, marketing & medical division.

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

Speaking about the acquisition today, United Drug's chief executive Liam FitzGerald said: "We are delighted to announce the acquisition of Pharmexx.

"The acquisition is a major step forward in our ambition to become the leading global provider of contract sales outsourcing services to the pharmaceutical industry.

"It is also another significant milestone in the development of United Drug into a truly international provider of outsourced services to healthcare manufacturers".