United Drug plc (UDG.L), an international provider of healthcare services, announced it has reached agreement to acquire the entire issued share capital of Synopia RX LLC for a total consideration of up to $12 million. United Drug said $3.2 million of the consideration is payable in cash on completion with an additional amount of up to $8.8 million payable after three years on achievement of agreed profit targets.
Based in North Carolina, USA, Synopia provides market access services to pharmaceutical and biotech manufacturers in the US market. Synopia will form part of United Drug Sales, Marketing & Medical division. The acquisition will be financed from United Drug's internal resources and existing debt facilities and is expected to be immediately accretive to earnings.
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