The US pharmaceutical giant behind the proposed acquisition of 281 Sainsbury’s pharmacies has announced more takeover plans for the UK and the Irish Republic.
McKesson Corporation has reached an agreement to purchase the pharmaceutical distribution division of UDG Healthcare, which operates as United Drug Sangers in Northern Ireland and United Drug in the Republic of Ireland.
The company, which has a 75% share in Celesio AG, the owner of Lloydspharmacy, also wants to acquire TCP, a homecare services provider in the Republic of Ireland, and MASTA, UDG’s UK travel healthcare business.
Celesio AG chairman Marc Owen says the latest takeover plans reflect the company’s desire to boost its growth in the European market and will complement its portfolio in the UK and the Republic of Ireland.
The proposed deal, announced on 18 September 2015, is subject to approval by UDG shareholders and will require business competition clearance from the European Union before it can go ahead.
The announcement comes just nine days after the UK’s competition watchdog revealed it was looking into the proposed acquisition by Lloydspharmacy of Sainsbury’s pharmacy business.
The Competition and Markets Authority (CMA) is investigating on the grounds that the acquisition may “reduce market competition” and is inviting comments until 23 September 2015.
McKesson says it hopes that both business acquisitions will be completed by the end of June 2016.