United Drug announces Bilcare Global Clinical Supplies takeover

United Drug has announced the acquisition of Bilcare Global Clinical Supplies (GCS) for $61 million (31.83 million pounds), with the deal expected to close at the end of the month.

The purchased company is a leading clinical trials materials business that provides services to pharmaceutical and biotechnology manufacturers and clinical research organisations from its facilities in the US and UK.

Its services include the formulation, development, packaging, labelling and supply chain management of various drugs, with the gross assets of the combined business estimated to be worth $16 million.

Once acquired, Bilcare GCS will become part of United Drug's existing commercial packaging division, while Bilcare will retain its clinical supplies business in Asia.

Liam FitzGerald, chief executive of United Drug, said: "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 with an unrivalled service offering."

Earlier this month, the company announced positive financial data for the third quarter of the 2012 business year, during which profit levels across its major divisions experienced year-on-year improvements.