McKesson Buys Irish Drug Distribution Business

McKesson Corporation (NYSE: MCK) got back into acquisition mode last week with its purchase of the pharmaceutical distribution division of UDG Healthcare plc for €408 million (US$463 million) in cash. Under terms of the agreement, McKesson will acquire United Drug Sangers in Northern Ireland and United Drug in the Republic of Ireland, as well as TCP, a leading home healthcare provider in the Republic of Ireland and MASTA, UDG’s travel healthcare business based in the United Kingdom. The deal boosts McKesson’s European drug distribution business, but not as much as its October 2013 deal for 75% of the German distributor Celesio AG, totaling $8.2 billion. In July, Celesio announced its UK subsidiary, LloydsPharmacy, would pay $195 million for Sainsbury’s pharmacy business.

 

 

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