United Drug makes double acquisition
United Drug, a provider of services to healthcare manufacturers and pharmaceutical retailers, has agreed to acquire the entire issued share capital of Synopia, which provides market access services to pharmaceutical and biotech manufacturers in the US market.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Twice daily
MoneyWeek
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Four times a week
Look After My Bills
Sign up to our free money-saving newsletter, filled with the latest news and expert advice to help you find the best tips and deals for managing your bills. Start saving today!
United Drug, a provider of services to healthcare manufacturers and pharmaceutical retailers, has agreed to acquire the entire issued share capital of Synopia, which provides market access services to pharmaceutical and biotech manufacturers in the US market.
The purchase, which will be made for a total consideration of up to $12m, is being made to enable to the firm to broaden its range of services to clients in its Sales, Marketing & Medical division.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
United Drug also announced plans to acquire the entire issued share capital of Drug Safety Alliance for a total consideration of up to $28m. The firm, which employs 94 people, provides safety and risk management services supporting pharmaceutical, biotech, medical device, animal and consumer health organisations.
The business will also form part of United's Sales, Marketing & Medical division and is being purchased to allow United to offer clients an integrated call centre and case processing pharmacovigilance service.
$21m of the consideration is payable in cash on completion with an additional amount of up to $7m payable after three years based on achievement of agreed profit targets.
Both acquisitions will be financed from United Drug's internal resources and existing debt facilities and is expected to be immediately accretive to earnings.
NR
-
What is a care fees annuity and how much does it cost?How we will be cared for in our later years – and how much we are willing to pay for it – are conversations best had as early as possible. One option to cover the cost is a care fees annuity. We look at the pros and cons.
-
How to navigate the inheritance tax paperwork maze in nine clear stepsFamilies who cope best with inheritance tax (IHT) paperwork are those who plan ahead, say experts. We look at all documents you need to gather, regardless of whether you have an IHT bill to pay.
