Last checked at 1 Aug 2019 07:00
Uniphar plc
Completion of Durbin acquisition
Dublin, London | 1 August 2019: Uniphar plc (the "Group") today announces the successful completion of the acquisition of Durbin plc and Durbin Inc (together "Durbin"), a specialist provider of pharmaceuticals with offices in the UK and the US supplying over 160 countries.
Durbin will be integrated into Uniphar's Product Access division, providing the Group with the opportunity to become a leading player in the provision of On-Demand and Exclusive Access services on a global basis. Durbin has approximately 45 years' experience in shipping unlicensed and hard-to-find medicines and has built up significant global capability in managing access programmes for pharmaceutical manufacturers.
The Group's Product Access business will now comprise more than 170 employees, supplying more than 5 million units to more than 160 countries on an annual basis and will manage access programmes for 36 global manufacturers, from offices in Ireland, the UK and the US.
The acquisition of Durbin was financed out of the proceeds of the placing completed alongside the listing of the Group's shares on 17 July 2019.
Commenting on today's announcement,
Ger Rabbette, CEO of Uniphar said:
"We are delighted to welcome our new colleagues from Durbin to the Uniphar Group. This acquisition is a key strategic milestone in expanding Uniphar's global footprint and is an important step towards achieving our ambition of becoming a global leader in the Product Access space. Post the integration of Durbin, we believe that Uniphar will offer a compelling proposition to manufacturers seeking a commercial partner with global reach and scalable digital capabilities."
Leslie Morgan, CEO of Durbin said:
"We are delighted to be joining the Uniphar Group. Durbin has been a sourcing partner for Uniphar since 2011 and in that period, we have built a strong relationship with the management team. Uniphar's e-Commerce platform and Patient Management System are highly complementary to our capabilities and were a key attraction for us in bringing the businesses together. Combining Durbin's global sourcing and distribution platform as well as its regulatory and compliance expertise with Uniphar's digital capabilities will greatly enhance the enlarged Group's global ambitions within its Product Access division."
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For further details contact:
Uniphar
Brian O'Shaughnessy Director of Investor Relations and Corporate Development
| +353 (0) 1 428 7777
investor.relations@Uniphar.ie
|
Davy (Joint Broker, Nominated Adviser and Euronext Growth Adviser)
Fergal Meegan Barry Murphy Tom Tynan
| +353 (0) 1 679 6363 |
RBC Capital Markets (Joint Broker) Darrell Uden Jonathan Hardy Thomas Debrosse
| +44 (0) 20 7653 4000 |
Q4 PR (Public Relations Adviser to Uniphar)
Iarla Mongey
| +353 (0) 1 475 1444 or +353 87 235 6461 |
About Uniphar plc
Headquartered in Dublin, Ireland, Uniphar plc is a diversified healthcare services business servicing the requirements of more than 200 multinational pharmaceutical and medical technology manufacturers across three divisions - Commercial & Clinical, Product Access, and Supply Chain & Retail. With a workforce of more than 2,000, the Group is active in Ireland, the UK, the Benelux and now the US following the acquisition of Durbin.
In Commercial & Clinical, the Group provides sales, marketing and distribution solutions to pharmaceutical and medical devices manufacturers on an outsourced basis.
In Product Access, the Group is growing two distinct service offerings: 1) sourcing and supplying unlicensed medicines to meet the needs of pharmacy customers (On-Demand Access); and 2) managing the release of speciality medicines for pharmaceutical manufacturers to specifically approved patient populations (Exclusive Access).
Supply Chain & Retail is an Irish only business for the Group, with Uniphar being an established market leader in Ireland with c.50% of the wholesale market servicing retail pharmacy, supported by a network of 235 owned and franchised pharmacies.