Healthcare services and drug wholesale company United Drug has said its profits for the year to the end of September should be ahead of market expectations.

In a trading statement, it said operating profits and earnings should show double-digit percentage growth compared with the same period last year.

United said a new agreement on drug prices, which came into effect in the Republic on March 1, reduced growth in the market. But the company said the change was 'well managed'.

The company said its two European pharmaceutical packaging acquisitions had performed well, and would help its supply chain services division to report significant growth.