Updates

UDG Healthcare - Completes disposal of wholesale drugs arm

May 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The European Commission has given competition clearance for the £316m sale of UDG’s wholesale drugs business to McKesson and the disposal completed on 1 April. Although this is initially dilutive to profits and eps, it creates a far more profitable firm and a faster growing core focused on Ashfield, an outsourcing specialist in promoting new drugs and Sharp, which provides contract packaging.UDG also now has a Eu 700m war chest for acquisitions, with any deal likely to significantly reduce its 2016 prospective PE of 26.9, based on year end September forecast of 29 cents (23p). Still a buy. ...

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