United Drug reports growth in latest fiscal quarter

United Drug has provided an interim management statement that highlights the strong growth it experienced during the fiscal quarter ending on June 30th 2013.

The company's revenues and profits were up on a year-over-year basis during the three-month period, thanks to the recent investments it has made in its commercial capabilities, both in terms of efficiency improvements and strategic acquisitions.

Its sales, marketing and medical division benefited from the recent takeover of Pharmexx, with a deal to purchase the Spanish contract sales organisation Expansis set to drive further growth when it is completed in September 2013.

Meanwhile, its healthcare supply chain business also continued to perform well and the strategic reorganisation of its packaging and specialty division is progressing as planned.

Other key accomplishments for the quarter include the recent appointment of Brendan McAtamney as its new chief operating officer, effective from September.

The company said the encouraging results ensure it is "well positioned to support its future growth objectives both organically and through acquisition".