United Drug profits rise 24% on the back of market gains

UNITED Drug has reported a 24% rise in full year pre-tax profits, driven by market share gain across its four operating divisions.

The company said pre-tax profits in the year to September were €35 million, up from €28.3m in 2002, with strong contributions from its pharmaceutical, wholesale and contract distribution outsourcing arms.

Chief executive Liam Fitzgerald said an acquisition made during the year, Mantis Surgical, and a recent takeover had also lifted earnings.