Pharmaceutical wholesaler United Drug today reported a 25 per cent increase in pre-tax profits to €23.36 million on turnover of €1,015 million.
The company reported strong progress in all three of its business divisions - pharma wholesale, contract distribution and outsourcing.
United Drug also reported important developments in its infrastructural developments. It referred to its investment of €21 million in a new distribution plant in Magna park in west Dublin as part of its growth strategy in pharmaceutical wholesaling.
The company also commented on the recent incursions by German pharmacy group Gehe into the Irish retail pharmacy market.
It believes it is "inappropriate for United Drug to follow such a strategy" given possible conflicts of interest with customers, and in light of what it considers to be high acquisition costs of retail pharmacies.