United Drug has announced that it will acquire Bilcare Global Clinical Supplies for $61m.
On completion of the transaction - expected on 31 August - it is estimated that the gross assets of the combined business will come to $16m.
The profits applicable to those assets in the last financial year were $4.6m.
United Drug said the Bilcare GCS business is "complementary" to its existing commercial packaging business and will form a part of its packaging and specialty division.
Commenting on the announcement, United Drug CEO Liam FitzGerald said; "The Bilcare acquisition is another very important step in the development of United Drug as we focus on margin expanding, international opportunities.
"This business fits well alongside our existing packaging businesses in the US and Europe and will position us as a leading provider of services in the growing clinical trials materials market."
Bilcare Global Clinical Supplies is a clinical trials materials business providing packaging and labelling services to global pharmaceutical and biotech manufacturers from facilities in the US and UK.
The acquisition, which is payable in cash, will be financed from United Drug's internal resources and existing debt facilities.
Image: Bilcare CGS provides packaging, labelling and supply chain management services. Photo: Courtesy of Housed.