United Drug to take over TD Packaging

PHARMACEUTICAL wholesaler United Drug has splashed out €10.9 million on a British packaging specialist.

The deal to take over the Swindon-based TD Packaging comes a week after the company announced another major investment in Britain, with the €15m acquisition of In2Focus Sales Development Services, a leading provider of contract sales services.

Chief executive Liam FitzGerald said the deal would beef up the strength of United Drug’s offering to clients. “Combined with all of our other manufacturer outsourced businesses in the UK and Ireland, the acquisition of TD Packaging further strengthens and complements our total offering to clients and continues to demonstrate the group’s strategic commitment to meeting the needs of healthcare manufacturers,” he said.

The markets responded well to the news. United Drug shares added 3c yesterday afternoon to €3.50, an increase of nearly 1%.

United Drug will hand over up to €6m over the next three years if the company reaches profit targets.