Contract packing grows profits at United Drug

The pharmaceutical and healthcare services firm provides packaging for branded pharmaceuticals, generic and nutraceutical manufacturers.

The contract packaging division, which falls under the umbrella of supply chain services at United Drug, increased revenue by 8.6% for the year ended September 2008.

According to the company’s final results for the year ended 30 September 2008, the packaging businesses “have performed in line with, or ahead of our expectations”.

Annette Flynn will assume responsibility for the newly formed packaging and speciality services division in the 2009 financial year.

United Drug reported a 5% increase in profit before tax to €58.5m (£49.5m), year on year on revenues of €1.7bn for the year ended 30 September 2008.

Chief executive Liam Fitzgerald said that 2007 had been an “excellent year” for the company “with good growth across all parts of the business”.

He added that the performance “highlights the defensive nature” of the business and the “operating leverage” within the businesses.

The group continues to explore opportunities to expand the business organically and through acquisition.

The pharmaceutical and healthcare services firm received US regulatory approval for its $99m (£49m) acquisition of Sharp Corporation in August 2008.

Pennsylvania-based Sharp produces blister packs, pouches and bottles for the pharmaceuticals industry.

United Drug has packaging operations in the UK, the Netherlands and Belgium.

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