United Drug takes price cut pain

UNITED Drug expects to acquire firms in Britain and the US over the coming year but expects to take a hit of up to €3 million this year following the Government imposed cut in medicine prices.

The Dublin-headquartered international drug wholesale and healthcare services group saw pre-tax profits for the first half of the year jump 5% to €31.5m.

Revenue for the six months to March 31, 2009, was €853m, in line with revenue in the same period in 2009.