United Drug acquires contract sales arm of Celesio for €35m

United Drug has acquired the contract sales arm of German healthcare and pharmaceutical company Celesio, for €35m.

The transaction — due to be completed by the end of August pending regulatory clearance — marks the Irish healthcare services group’s second significant acquisition in a month.

The company being bought is Pharmexx GmbH which operates across 18 countries in Europe and the Americas, employing more than 2,300 people.

Taking on the Stuttgart- headquartered firm will establish United Drug as one of the leading global contract sales outsourcing companies.

“The acquisition is a major step forward in our ambition to become the leading global provider of contract sales outsourcing services to the pharmaceutical industry,” said Liam Fitzgerald, United’s CEO.

“It is also another significant milestone in the development of United Drug into a truly international provider of outsourced services to healthcare manufacturers.”

Currently, nearly 70% of the group’s profits are generated from outside of Ireland, with management already stating its aim to increase that figure to around 80% by 2015.

Pharmexx provides its contract sales outsourcing services via subsidiaries in Europe and Canada and through minority shareholdings in businesses in Brazil and Argentina.