United Drug purchases two US companies for €32m

Irish healthcare services group United Drug has continued its busy summer of acquisitions by purchasing two US-based companies for a combined consideration of up to $40 million (€32m).

The Dublin-headquartered group has added to its sales, marketing and medical division with the purchase of two North Carolina-based companies — Drug Safety Alliance (DSA) for up to $28m and Synopia — which provides market access services to pharmaceutical and biotechnology manufacturers in the US — for a total consideration of $12m.

Regarding the latter, $3.2m is payable, in cash, on completion and additional payments of up to $8.8m will be payable after three years if agreed profit targets are reached. Similarly, United will pay an initial $21m for DSA, with the remainder again due after three-years of agreed profit targets are reached.