United Drug plans to expand

Irish pharmaceutical and healthcare services group United Drug said they are looking to make acquisitions in the US, Britain, and Europe in the short term and hoping to expand into China and Brazil within five years.

Chief executive Liam FitzGerald said the company had a strong balance sheet after reporting a 7% increase in pre-tax profits for the six months to the end of March, to €35m. Operating profits also rose by 7% to €39.5m.

“The first half of 2012 has seen us advance our international healthcare services offering and return to good growth in profits and earnings while continuing to invest in our physical and IT infrastructure and management talent,” Mr FitzGerald said.