UDG offloads units in €407.5m deal with US drug wholesaler McKeeson

Shares at Dublin-based UDG Healthcare soared as it agreed to sell two units of its business to the parent company of Lloyds Pharmacy for €407.5m in a bid to reshape its structure.

The move, which will see its supply chain services business and an arm of its commercial and medical services division transfer to US company McKeeson, will help refocus UDG’s business on the higher growth international healthcare services business.

The healthcare services provider’s share price climbed more than 7.5% on the back of the announcement.