TIDMUPR
RNS Number : 2416G
Uniphar PLC
24 November 2020
Uniphar plc Acquisition of RRD International
Uniphar plc today announces the acquisition of RRD
International
Dublin, London | 24 November 2020: Uniphar plc ("Uniphar" or the
"Group") today announce the acquisition of US-based, RRD
International ("RRD").
RRD is a US based pharmaceutical advisory group providing
outsourced strategic consulting and execution services throughout
the early stages of a products development. The RRD team has a
depth of experience, from pre-clinical through to licensing, across
a broad range of product classes and therapeutic areas and has
supported the FDA regulatory approval of over 100 assets.
The acquisition will facilitate the growing requirement for
Uniphar's delivery of US based expanded access programmes ("EAPs").
RRD's rich history of providing integrated, expert level strategic,
regulatory, and operational support to biopharmaceutical companies
across the globe will form an integral part of Uniphar's US
offering moving forward.
Supporting EAPs is a natural extension of RRD's capabilities as
biopharma companies and the FDA work together to accelerate patient
access to innovative drugs for serious, often life-threatening
diseases. With a specialist team of close to 40 full-time
employees, RRD are addressing the trend of early drug development
shifting to smaller biopharma companies.
This acquisition coupled with the previously announced
acquisition of Diligent Health Solutions creates a unique
capability to design and implement compliant, patient centric EAPs
across the US.
The purchase price includes an upfront payment plus contingent
consideration payable upon achievement of EBITDA based performance
targets. The existing RRD management team, who are incentivised
through the acquisition structure, recognise the enhanced
opportunity to grow the business as part of the Uniphar Group and
will all remain fully engaged as a core part of the business going
forward. The acquisition is forecast to deliver a Return on Capital
Employed to the Group in line with Uniphar's target rate of 12%-15%
within three years.
The acquisition is consistent with Uniphar's strategy to offer a
global platform across our Product Access division providing
solutions to meet the growing needs of our partners across the
entire lifecycle of their products. Planning for the integration is
already underway and Uniphar's experienced management and project
teams will ensure integration is managed effectively to deliver the
identified benefits.
Commenting on today's announcement
Ger Rabbette, CEO of Uniphar said:
"We are excited to announce the acquisition of RRD which adds
significantly to our US Product Access capabilities. Becoming a
truly global partner for our clients in this area is an important
strategic objective for our group. The highly experienced RRD team
brings deep US regulatory insights which will further accelerate
our growth towards market leadership. The acquisition marks an
important strategic milestone for the group and grows our US
workforce to close to 170 colleagues."
Chuck Finn, PhD, Chairman and CEO of RRD 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
realize the potential of RRD's unique development model while,
simultaneously, expanding it to support Uniphar's Product Access
business in the US."
--ENDS--
For further details contact:
Uniphar +353 (0) 1 428 7777
Brian O'Shaughnessy
------------------------------
Group Director of Corporate Development investor.relations@Uniphar.ie
------------------------------
Davy +353 (0) 1 679 6363
------------------------------
(Joint Broker, Nominated Adviser and Euronext
Growth Adviser)
------------------------------
Fergal Meegan
------------------------------
Barry Murphy
------------------------------
Orla Cowzer
------------------------------
RBC Capital Markets (Joint Broker) +44 (0) 20 7653 4000
------------------------------
Darrell Uden
------------------------------
Jonathan Hardy
------------------------------
Jamil Miah
------------------------------
Q4 PR +353 (0) 1 475 1444
or
------------------------------
(Public Relations Adviser to Uniphar) +353 87 235 6461
------------------------------
Iarla Mongey
------------------------------
About Uniphar plc
Headquartered in Dublin, Ireland, Uniphar plc is an
international 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.
The Group has strong established relationships with 7 of the top
10 pharma companies and 6 of the top 10 medical device companies.
With a workforce of more than 2,300, the Group is active in
Ireland, the UK, the Benelux, the Nordics and the US, delivering
unlicensed and specialty medicine on a global basis.
The Group's vision is to improve patient access to
pharmaco-medical products and treatments by enhancing connectivity
between manufacturers and healthcare stakeholders. Uniphar
represents a strong combination of scale, growth and
profitability.
Commercial & Clinical
In Commercial & Clinical the Group provides sales, marketing
& distribution solutions to multinational pharmaceutical and
medical device manufacturers on an outsourced basis. Active in
Ireland, the UK, the Benelux, and the Nordics, the Group is growing
with its clients to provide pan-European solutions. Uniphar has
built a fully integrated multi-channel solution that is supported
by highly experienced, clinically trained teams to deliver
exceptional outcomes for all clients.
Product Access
In Product Access the Group is growing two distinct service
offerings: 1) "On Demand Access", which are pharmacy led solutions
for sourcing and supplying unlicensed medicines to meet the needs
of both retail and hospital pharmacists; and 2) "Exclusive Access",
which are manufacturer led solutions for controlling the release of
speciality medicines for specifically approved patient populations
in agreed markets. The Group currently delivers product access
solutions on a global basis.
Supply Chain & Retail
Uniphar is an established market leader in Ireland with c.50%
market share in the wholesale/hospital market, supported by a
network of c.300 owned, franchised and symbol group pharmacies. The
business supports the diverse customer base through the provision
of strong service levels coupled with innovative commercial
initiatives. Supply Chain & Retail is an Irish only business
for the Group, although the manufacturer relationships and
infrastructure are utilised for the benefit of the growth
divisions, Commercial & Clinical and Product Access.
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