United Drug in Agreement to Acquire Pharmexx
On the 26th July 2012 United Drug PLC announced they have reached an agreement to acquire Pharmexx, one of the leading global contract sales organisations from Celesio AG.
Contracts have been signed and exchanged between United Drug and Celesio with the purchase expected to be completed by the 31st August 2012, subject to regulatory clearances.
The announcement signifies a major addition to its rapidly expanding contract sales capability and further demonstrates United Drug’s continued confidence and commitment to the sector.
United Drug is an Irish public company, dual-listed on the Irish and UK stock exchanges. It owns a growing number of companies, spread across three divisions and three continents. All of its businesses are strongly allied to the pharmaceutical and healthcare sectors.
Established 13 years ago, Pharmexx has grown tremendously, now operating successfully across the globe in 18 countries with over 2,300 employees. Pharmexx will join the Ashfield Group of companies that sit within the Sales Marketing and Medical Services division of United Drug.
The Ashfield Group of companies was established 15 years ago and under the ownership of United Drug the business has gone from strength to strength. Today it has over 2000 employees across the globe. They provide comprehensive and flexible solutions in contract sales and nurse advisory outsourcing, medical compliance, training, marketing services, medical communications/information services and event management.
Liam Fitzgerald, CEO of United Drug, said: “United Drug is delighted to welcome Pharmexx into its family of complementary businesses all of which provide services to the healthcare and pharmaceutical sectors.This acquisition strengthens and expands our existing contract sales presence provided by the Ashfield Group. Pharmexx has an impressive global footprint, with offices established across the UK, Europe, Canada and Latin America. With United Drug’s resources and expertise behind it we look forward to rapidly progressing it to the next level”.
CEO of Celesio AG, Markus Pinger, said: “In United Drug we have found an investor who will leverage Pharmexx’s international potential and further develop the company. This is also in the best interest of the Pharmexx employees, a fact that has always been a crucial factor for us in the sales process.”
Commenting on the transaction Chris Corbin, Managing Director of Ashfield Group said, ‘’We are well on the way to establishing ourselves as a truly international contract services business. We are well placed to accelerate our growth and have developed a diverse range of services to meet the evolving requirements of our clients.”