United Drug agrees $61m Indian deal

United Drug is set to strengthen its packaging and speciality services division with the $61m (€49.5m) cash acquisition of the US and European operations of Indian healthcare services giant, Bilcare Ltd.

The purchase of international clinical trials-related business, Bilcare Global Clinical Supplies will position the Dublin-headquartered healthcare services group as a global leader in both commercial and clinical packaging. The deal is expected to be formally concluded by the end of this month and the consideration — payable upon deal completion — will be financed through United Drug’s internal resources and existing debt facilities.

Bilcare GCS has assets of $16m and, in its last financial year generated profits of $4.6m. The development will see Bilcare Ltd — which is headquartered in the Indian city of Pune — focus on its clinical supplies business in Asia.