United Drug has announced the acquisition of Pharmexx from Celesio AG for €35m.
Pharmexx, with headquarters in Stuttgart, Germany, employs over 2,300 people in 18 countries across Europe, North and South America.
The acquisition is to be financed from United Drug's existing cash and debt resources. Pending regulatory clearance it is expected to be completed by August 31.
United Drug’s Chief Executive, Liam FitzGerald said that the acquisition was a major step forward for United Drug, in the company's ambition to become the leading global provider of contract sales outsourcing services to the pharmaceutical industry.
“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." he said.
"It is also another significant milestone in the development of United Drug into a truly international provider of outsourced services to healthcare manufacturers” he added.
United Drug is listed on the stock exchanges in London and Dublin and has operations in the UK, Ireland, the Netherlands, Belgium and the US.
