UDG Healthcare has announced a deal to sell its "Specials" businesses and Arjun to Professional Compounding Centers of America for £23.5m.
The Specials businesses comprise two companies - the Specials Laboratory Holdings Limited and Craig & Hayward Limited.
These companies make and distribute unlicensed medicines, known as “specials” for the community pharmacy and hospital markets in the UK.
Arjun Products Limited, which offers a range of dermatology creams, mineral supplements and ear and nose drops to the UK pharmacy market, will also be included in the deal.
UDG said that it believes these businesses have the potential to deliver strong growth over the coming years. But after a strategic review it decided that the manufacture and distribution of specials falls outside its core areas of operation.
It is expected that the deal will be completed by end of the month.