United Drug : acquires Bilcare Global Clinical Supplies
08/20/2012| 03:38am US/Eastern
Company name United Drug PLC
Headline Acquisition of clinical trials materials
RNS Number : 3011K United Drug PLC
20 August 2012
UNITED DRUG PLC
United Drug acquires leading clinical trials materials
20 August 2012: United Drug plc, a leading international
provider of healthcare services announces that it has reached
agreement to acquire the UK and US clinical services
businesses (combined "Bilcare Global Clinical
Supplies" or "Bilcare GCS") from Bilcare
Limited for a total consideration of $61 million. The
acquisition is expected to complete on
31 August 2012 subject to the fulfilment of usual closing
conditions. As part of this agreement, Bilcare Limited will
retain its clinical supplies business in Asia.
Bilcare Global Clinical Supplies is a leading
clinical trials materials business providing services to
global pharmaceutical and biotech manufacturers and Clinical
Research Organisations from facilities in the US and UK. The
services include the formulation, development, packaging,
labelling and supply chain management of drugs used in the
clinical trials process.
It is estimated that the gross assets of the combined
business are $16 million and the profits applicable to those
assets in the last financial year were $4.6 million. The net
assets on completion are expected to be $9.5 million.
The Bilcare GCS business is complementary to United
Drug's existing commercial packaging business and will
form a part of its Packaging & Specialty division. Following
completion of the acquisition, United Drug will be a global
leader in both commercial and clinical packaging.
United Drug and Bilcare Asia will combine their
capabilities and work together in instances where there are
customers requiring clinical trials materials services across
the US, UK and Asia.
The consideration is payable in cash on completion
and will be financed from United
Drug's internal resources and existing debt
The acquired business forms part of the Global Clinical
Supplies division of Bilcare Limited. With facilities in
Phoenixville, Pennsylvania, USA and Crickhowell, Wales the
acquired business employs 195 people.
Commenting on the announcement, Liam FitzGerald, Chief
Executive of United Drug said: "The Bilcare acquisition
is another very important step in the development of United
we focus on margin expanding, international opportunities.
This business fits well alongside our existing packaging
businesses in the US and Europe and will position us as a
leading provider of services in the growing clinical trials
materials market. Along with the recent Watermeadow and
Pharmexx acquisitions, this transaction extends United
Drug's position and reputation as an international
provider of outsourced services to life sciences companies
with an unrivalled service offering."
Greg Lawless/Lisa Kavanagh
Barry Mc Grane
United Drug plc
About United Drug plc
Tel: +44 207 250 1446
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 over 20 countries including: the UK, Ireland,
Germany, the Netherlands, Belgium, and the USA.
The Company operates across three divisions, Healthcare
Supply Chain, Sales, Marketing & Medical, and Packaging &
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 Sales, Marketing & Medical division United Drug is a
global leader in the provision of contract sales outsourcing
services to pharmaceutical manufacturers with operations in
major markets including Continental Europe, the UK, North
America and a presence in South America. United Drug also
provides related marketing services to pharmaceutical
manufacturers in each of these markets.
In the Packaging & Specialty 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.com.
Bilcare Limited (www.bilcare.com) (BSE code
526853), listed on the Bombay Stock Exchange, is a unique
organisation with a strong research foundation and an
unending quest for global leadership. Bilcare offers
customer-centric innovation for pharmaceutical packaging,
card solutions, speciality film solutions and clinical trials
Through nonClonableIDTM technology, Bilcare
offers path breaking business solutions in brand protection
and business intelligence. Bilcare operates best in class
manufacturing and research facilities in Germany, India,
Italy, Singapore, UK and USA.
This information is provided by RNS
The company news service from the London Stock Exchange