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(Sharecast News) - Diversified healthcare services group Uniphar has acquired Maryland-based pharmaceutical advisory business RRD.
Uniphar said on Tuesday that the acquisition of RRD would facilitate its "growing requirement" for the delivery of its US expanded access programmes.
The AIM-listed group stated that the purchase price, which was not disclosed, included an upfront payment plus contingent consideration, payable upon achievement of underlying earnings performance targets.
Uniphar added that the acquisition was forecast to deliver a return on capital employed in line with its target rate of 12-15% within three years.
Chairman Chuck Finn said: "Over the past 18 years, we've played a critical role for our partners, helping transform numerous early-stage, innovative product candidates into holistic development programs which leverage our scientific and regulatory-driven approach as well as in-house capabilities to accelerate delivery of new medicines to patients with serious diseases.
"This partnership enables us to realise the potential of RRD's unique development model while, simultaneously, expanding it to support Uniphar's Product Access business in the US."
As of 1040 GMT, Uniphar shares were up 0.84% at €2.41 each.
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