United Drug releases financial summary

United Drug, a firm that provides services to the healthcare industry, has released its financial results for the year to September 30th 2009.

According to the organisation, some areas of trading have remained buoyant in 2009, although others have faced challenging trading conditions.

Due to altered regulations and a reduction in medicine costs in the UK and Ireland this year, the group’s healthcare division has experienced a drop in revenue growth, but the company states that it has performed relatively well considering this.

It stated that the fall in the value of sterling has reduced its profits when translated into euros for reporting purposes.

A restructuring and cost-reduction programme is almost complete, it added, and will bring about a one-off exceptional charge this year of around 14 million euros (12.8 million pounds), while delivering annualised savings of nine to ten million euros.

In August, United Drug entered into a partnership with Medco Health Solutions that enables them to jointly offer patients being treated by the NHS a plethora of homecare options.