Cardinal Health Acquires Chinese Distributor Zuellig

29 November 2010 (Last Updated November 29th, 2010 18:30)

US drug wholesaler Cardinal Health has agreed to acquire Chinese distributor Zuellig Pharma China in a $470m deal. Under terms of the agreement, Cardinal has assumed approximately $60m of net debt, with the rest of the acquisition to be funded with cash. Zuellig has annua

US drug wholesaler Cardinal Health has agreed to acquire Chinese distributor Zuellig Pharma China in a $470m deal.

Under terms of the agreement, Cardinal has assumed approximately $60m of net debt, with the rest of the acquisition to be funded with cash.

Zuellig has annual sales in excess of $1bn and distributes medicines to around 49,000 hospitals and clinics, and more than 123,000 pharmacies.

The acquisition comes after a flurry of activity from Cardinal, which previously agreed to acquire Kinray for $1.3bn to diversify its customer base, and Healthcare Solutions for more than $500m to extend its presence in the speciality medications market.