UNITED DRUG PLC
ANNUAL GENERAL MEETING
CHAIRMAN'S STATEMENT
Dublin / London, 9 February 2010: United Drug plc (the 'Group') this morning issued an Interim Management Statement and the following is a summary of that Statement.
Trading across the Group has been good in the first quarter of the financial year with profits in line with budget and well ahead of what was a slow first quarter in 2009. Those areas of the business that performed below expectations during 2009 are now back trading in line with budget. Internally generated cash flows continue to be strong across the Group.
The Group has had a successful first quarter and the trading outlook for most parts of the business is encouraging. After taking account of the new agreement on medicine prices in the Republic of Ireland that came into effect on 1 February 2010 and the investment in the current year in the UK homecare joint venture with Medco Health Solutions, Inc. the Group expects profit before tax for the year to 30 September 2010 to be broadly in line with the prior year, on a constant currency basis.
ENDS Tuesday, 9th February 2010
For reference:
Liam FitzGerald Pauline McAlester
Barry Mc Grane
United Drug plc Murray Consultants
Tel: +353-1-4632300 Tel: +353-1-4980300
About United Drug plc
Listed on the Stock Exchanges in London and Dublin, United Drug is a leading international provider of services to healthcare manufacturers and pharmaceutical retailers, with operations in the UK, Ireland, The Netherlands, Belgium, Sweden and the USA.
The Company operates across three divisions, Healthcare Supply Chain, Packaging & Speciality Services, and Contract Sales & Marketing Services.
In Healthcare Supply Chain, United Drug is the largest pharmaceutical wholesaler in the island of Ireland. It is also the market leader in contract distribution outsourcing (pre-wholesaling) in Ireland and has achieved the No. 1 position in the UK through its joint venture business UniDrug Distribution Group (UDG). The Company provides specials medicines manufacturing and distribution services in the UK. Through its medical & scientific operations, United Drug provides sales & marketing and technical service solutions, including contract distribution services to a wide range of medical & scientific equipment & consumable manufacturers, with a market leading position in Ireland and an emerging presence in the UK.
In the Packaging & Speciality division United Drug is a leading international provider of pharmaceutical contract packaging services with facilities in the US, UK, Dutch and Belgian markets. The Company also provides speciality distribution and homecare services in the UK and Ireland.
In the Contract Sales & Marketing Services division United Drug is the leading provider of contract sales outsourcing services to pharmaceutical manufacturers in the UK and Ireland and has a growing presence in the US market. United Drug also provides related marketing services to pharmaceutical manufacturers in each of these markets.
For more information go to www.united-drug.ie