McKesson To Buy Pharma Distribution Division Of UDG - Quick Facts

(RTTNews) - McKesson Corp. (MCK) announced an agreement to purchase the pharmaceutical distribution division of UDG Healthcare, based in Northern Ireland (United Drug Sangers) and the Republic of Ireland (United Drug), for 408 million euros in cash. More than 1,000 UDG employees will join McKesson as part of the acquisition.

McKesson will acquire: United Drug and United Drug Sangers, leading wholesale operations across the Republic of Ireland and Northern Ireland; TCP, a leading home healthcare provider in the Republic of Ireland; and MASTA, UDG's travel healthcare business based in the United Kingdom.

The deal follows McKesson's recent agreement to acquire 281 pharmacies operated by Sainsbury's in the U.K. Both the acquisitions are expected to close in the first half of calendar year 2016. In the first 12 months following the close of these acquisitions, McKesson expects the combined impact of the deals to be between 10 to 14 cents accretive to adjusted earnings per share.