United Drug, an international provider of healthcare services, will acquire the U.K. and U.S. clinical services businesses (combined "Bilcare Global Clinical Supplies" or "Bilcare GCS") from Bilcare Limited for $61 million. The acquisition is expected to be completed on Aug. 31. Bilcare will retain its clinical supplies business in Asia.
Bilcare Global Clinical Supplies is a clinical trials materials business providing services to global pharmaceutical and biotech manufacturers and CROs from facilities in the U.S. and U.K., including the formulation, development, packaging, labeling and supply chain management of drugs used in the clinical trials process.
The estimated gross assets of the combined business are $16 million, and the profits applicable to those assets in the last financial year were $4.6 million. The net assets on completion are expected to be $9.5 million.
The Bilcare GCS business is complementary to United Drug's existing commercial packaging business and will form a part of its Packaging & Specialty division. United Drug and Bilcare Asia will combine their capabilities and work together where customers require clinical trials materials services across the U.S., U.K. and Asia.
The acquired business forms part of the Global Clinical Supplies division of Bilcare Limited. With facilities in Phoenixville, Penn., and Crickhowell, Wales, the acquired business employs 195 people.
Liam FitzGerald, CEO of United Drug, said, "The Bilcare acquisition is another very important step in the development of United Drug as we focus on margin expanding, international opportunities. This business fits well alongside our existing packaging businesses in the U.S. and Europe and will position us as a leading provider of services in the growing clinical trials materials market. Along with the recent Watermeadow and Pharmexx acquisitions, this transaction extends United Drug's position and reputation as an international provider of outsourced services to life sciences companies."
United Drug provides services to healthcare manufacturers and pharmaceutical retailers, with operations in over 20 countries including the U.K., Ireland, Germany, the Netherlands, Belgium, and the U.S. It operates across three divisions: healthcare supply chain; sales, marketing & medical; and packaging & specialty. In healthcare supply chain, United Drug said it is the largest pharmaceutical wholesaler in Ireland and a leader in contract distribution outsourcing (prewholesaling) in Ireland. It provides specials medicines manufacturing and distribution services in the U.K. Through its medical & scientific operations, it provides sales and marketing and technical service solutions, including contract distribution services, to manufacturers. In the sales, marketing & medical division, it provides contract sales outsourcing and marketing services to pharmaceutical manufacturers with operations in Europe, the U.K., North America and South America. In the packaging & specialty division it provides pharmaceutical contract packaging services with facilities in the U.S., the U.K., Dutch and Belgian markets, and speciality distribution and homecare services in the U.K. and Ireland.
Bilcare, listed on the Bombay Stock Exchange, offers customer-centric innovation for pharmaceutical packaging, card solutions, speciality film solutions and clinical trials supplies management. Bilcare offers business solutions in brand protection and business intelligence. Bilcare operates manufacturing and research facilities in Germany, India, Italy, Singapore, the U.K. and the U.S.