Annual report and financial statements published
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Pictured: Liam FitzGerald
United Drug has this morning announced two US acquisitions for a total consideration of up US$40m.
The Irish-headquartered healthcare services provider has reached agreement to by Drug Safety Alliance, which provides safety and risk management services relating to the detection, assessment, analysis and reporting of adverse drug reactions, for up to US$28m. Of this, US$21m will paid on completion, while up to US$7m will be paid after three years based on reaching agreed profit targets.
DSA is based in North Carolina and employs 94 people.
United Drug said DSA is complementary to its US medical information business, Alliance, and will allow it to offer clients an integrated call centre and case processing pharmacovigilance service. Both businesses will form part of its sales, marketing and medical division.
“This is a business with a reputation for high quality service delivery to clients and with our existing medical information business will position us as a leading provider of drug safety and product quality information services in the US,” said Liam FitzGerald, chief executive of United Drug.
The company has also agreed to buy Synopia, which is also located in North Carolina and provides market access services to pharmaceutical and biotech manufacturers in the US market. These services seek to accelerate the access and positioning of medicines in the payer market and include market research, payer strategy development and account management.
Synopia will also form part of the company’s sales, marketing and medical division.
United Drug will pay up to US12m for Synopia, with US$3.2m being paid on completion and up to US$8.8m payable after three years and dependent on profit targets.
“Along with our other recent acquisitions, this transaction extends United Drug’s position and reputation as an international provider of outsourced services to life sciences companies with an unrivalled service offering,” said FitzGerald.