Irish headquartered Uniphar, which employs 2,300 people worldwide, says acquisition will add to its US product delivery capabilities.
Healthcare firm Uniphar has acquired US pharma firm RRD for an undisclosed sum.
RRD provides outsourced strategic consulting and execution services throughout the early stages of a product’s development.
“The acquisition marks an important strategic milestone for the group and grows our US workforce to close to 170 colleagues”
The RRD team has a depth of experience, from pre-clinical through to licensing, across a broad range of product classes and therapeutic areas and has supported the FDA regulatory approval of over 100 assets.
“We are excited to announce the acquisition of RRD which adds significantly to our US Product Access capabilities,” said Ger Rabbette, CEO of Uniphar.
“Becoming a truly global partner for our clients in this area is an important strategic objective for our group. The highly experienced RRD team brings deep US regulatory insights which will further accelerate our growth towards market leadership.
“The acquisition marks an important strategic milestone for the group and grows our US workforce to close to 170 colleagues,” Rabbette said.
Growing in the US
The acquisition will facilitate the growing requirement for Uniphar’s delivery of US based expanded access programmes.
The purchase price includes an upfront payment plus contingent consideration payable upon achievement of EBITDA based performance targets. The existing RRD management team, who are incentivised through the acquisition structure, recognise the enhanced opportunity to grow the business as part of the Uniphar Group and will all remain fully engaged as a core part of the business going forward.
The acquisition is forecast to deliver a Return on Capital Employed to the Group in line with Uniphar’s target rate of 12pc-15pc within three years.
In related news the Competition and Consumer Protection Commission yesterday (23 November) approved the acquisition of Hickey’s Pharmacy Group by Uniphar.
Hickey’s is Ireland’s largest family-owned pharmacy chains and the acquisition was first announced with a potential deal value of up to €60m. The acquisition will add 36 community pharmacies to Uniphar’s existing network, increasing its number of retail pharmacies to 335.
By John Kennedy (email@example.com)
Published: 24 November, 2020