United Drug reports “record results”

United Drug, the Irish pharmaceutical services company, has reported “record results” for the six months of its financial year. The company stated that group revenue had increased to 707.9 million euros (484 million pounds), an upturn of 12 per cent, and profits before tax of 25.3 million euros.

The group said that all of its four divisions – pharma wholesale, contract distribution outsourcing, contract sales outsourcing and medical and scientific – had performed strongly during the past six months. It added that its three UK acquisitions in In2Focus, TD Packaging and Presearch, had “performed in line with expectations”.

Liam FitzGerald, chief executive of United Drug, said: “This period has also seen important developments with the completion of the integration of a number of our businesses into enlarged and state-of-the-art facilities that will aid the future growth of those businesses.”

“The three bolt-on UK acquisitions completed in the second half of our 2005 financial year have been brought fully into the Group and are adding value to our service offering,” he added.

Mr FitzGerald concluded: “The continuing implementation of our strategy over the last six months positions us well for the remainder of this year and for the years ahead.”

On Monday, United Drug announced the acquisition of Endoscopy UK and Mediscope, known together as Endoscopy, UK-based medical distributors. United Drug paid 6.1 million pounds for the Gloucestershire-based company, the fourth British company acquisition the firm has made.

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