United Drug to delist in October

United Drug will delist from the Irish Stock Exchange on Oct 3 in order to have all its shares traded through the London Stock Exchange in a bid to gain admission to the FTSE UK Index.

The Dublin-headquartered pharmaceutical company flagged its intentions in its interim results on Aug 14.

United Drug hopes that by having all its stock traded on the London market, it will boost volumes and make it eligible for inclusion in the FTSE index. Most of the big investment funds tend to buy FTSE indices rather than individual stocks.