Thursday, September 13 15:52:13
Irish pharmaceutical and healthcare services firm United Drug today said it has now received regulatory clearances for its acquisition of Frankfort based Pharmexx GmbH.
The clearance came from the Spanish and Portuguese competition authorities. This allows UD to assume control over all parts of Pharmexx not subject to ongoing competition clearance. The formal completion of the transaction will occur once clearance has been given by the Irish Competition Authority.
Employing over 2,300 people, Pharmexx operates in 18 countries across Europe, North and South America.
United Drug said the net assets being acquired are E8.3 million and on completion the business will be integrated into its sales, marketing and medical division.
United Drug's chief executive Liam Fitzgerald said: "The acquisition is a major step forward in our ambition to become the leading global provider of contract sales outsourcing services to the pharmaceutical industry."
"It is also another significant milestone in the development of United Drug into a truly international provider of outsourced services to healthcare manufacturers".