United Drug says business is ahead of last year

Source: Healthcare Exec

Date :26/02/2008 16:29:46

The Irish healthcare services company said on Tuesday that business was comfortably ahead of last year's levels in January.

The supplier of drugs and medical equipment to pharmacies, hospitals and dentists in the UK and Ireland said earlier this month that its performance in the three months to the end of December had been well ahead of the same period a year earlier.

"I am pleased to confirm that this trend has continued through January," Chairman Ronnie Kells told shareholders at the company's annual meeting. "The good trading conditions being experienced point to another successful year for your company."

Acquisitions

United Drug Plc also said that it saw opportunities to boost growth through acquisitions.

Mr. Kells said the company still expected to supplement growth in its existing businesses through acquisitions. "We have a strong balance sheet allowing us to fund such opportunities," he said.

United Drug made a number of small acquisitions in Ireland, Britain, Belgium and the United States last year as it expanded its geographical scope and the range of services it offers to the healthcare industry.

Besides its core distribution operations, the Dublin-based company also packages and markets drugs and beauty products for manufacturers.

February 26, 2008