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Geldards advises US firm on £23.5m deal

Lawyers based at the Nottingham office of Geldards have advised Professional Compounding Centers of America on a deal worth £23.5m.

US-based PCCA purchased three pharmaceutical companies from UDG Healthcare, an Irish company quoted on the London Stock Exchange.

The trio of companies - Specials Laboratory Holdings and Craig & Hayward, and Arjun Products – specialise in the manufacture and distribution of unlicensed medicines known as 'specials' to the pharmacy and hospital markets.

"This was a complicated deal with a hard timetable driven by the Seller's quoted company status and the buyer's US locations, which meant plenty of conference calls at odd hours of the evening," said Hugh Strickland, a corporate partner at Geldards.

Jim Smith, PCCA's president, said: "The acquisitions will accelerate our goal of bringing the benefits of personalised medications to a wider audience especially in important markets like the United Kingdom and Europe."

Source: Insider News

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