United Drug buys UK-based firm as it expands marketing interests
UNITED Drug -- Ireland's largest pharmaceutical wholesaler -- said it bought a UK-based medical marketing company for as much as $21m (€16.2m) as it expands its marketing interests.
United Drug bought the UK-based company InforMed Group for £11.4m (€13.8m) in cash and a further £5.9m (€7m) in bonuses if certain targets are met over the next three years.
The deal will expand United Drug's operations in the UK and the US where the company already offers services such as event management and the promotion of customers' drugs among doctors.
United Drug has expanded far beyond its origins supplying medicines to local chemists and now offers nursing services to Britain's National Health Services as well as medical marketing for pharmaceutical and biotechnology companies.
It has previously bought companies such as Ashfield, Universal ProCon and Business Edge to move into the marketing sector. "The acquisition significantly adds to our offering, both in the UK and the US, in the growing contract sales and marketing services division," United Drug chief executive Liam FitzGerald said yesterday.
"InforMed has an excellent management team and I am delighted to welcome them to the group."
Macclesfield-based InforMed employs 80 people to do medical writing and publication planning, market research, business analysis, sales training and consultancy, United Drug said.