United acquire Sharp Corporation
United Drug today announced that it has acquired the entire issued share capital of Sharp Corporation for a total consideration of $99m (€62.3m).
Sharp is the largest independent pharmaceutical contract packaging company in the outsourced market in the United States.
The company provides full-service packaging solutions, in compliance with strict regulatory requirements, to large pharmaceutical, generic, biotechnology, speciality pharmaceutical, neutraceutical and consumer healthcare companies. The company employs approximately 600 people, including senior management, all of whom will remain with the business.
The transaction is subject to customary US approvals and is expected to complete within 30 days.
Speaking about the acquisition today, United Drug’s chief executive, Liam FitzGerald said: “We are delighted to announce the acquisition of Sharp. Sharp is a quality and compliance leader in pharmaceutical contract packaging in the United States and will fit extremely well with our existing packaging operations that provide services to the same client base in most major markets in Europe.
“The acquisition will also provide a major platform for our on-going development as an international healthcare services company.”
