UDG sells off unlicensed drug unit

Diversified medical services group UDG Healthcare, headquartered in Dublin, has reached agreement to sell its non-core unlicensed medicines business to an American buyer for nearly €29m.

UDG, which changed its name from United Drug last year, yesterday announced the £23.5m (€28.7m) sale of its “specials” division to the Houston-based Professional Compounding Centers of America (PCCA). The transaction is expected to be completed by the end of this month.

“Specials” are unlicensed medicines typically prescribed to patients with specific, or rare, medical requirements that dictate they can’t take mainstream drugs.