United Drug buys British medical consultancy for €16m

Irish healthcare services group United Drug has bought a British medical consultancy for £13 million (€16.3m).

The acquisition is of Watermeadow Medical Consulting and will boost the Dublin-headquartered group’s medical communications capability and global offering for its international pharmaceutical manufacturer customers further.

It will further diversify its interests away from drug delivery services and the Irish market. Nearly 70% of United Drug’s annual profits are generated from its businesses outside Ireland and management has previously said it aims to increase that figure to 80% by 2015.