Bilcare Ltd, a company that provides pharmaceutical packaging solutions and manages supplies for clinical trials, has signed an agreement with United Drug plc for the sale of its global clinical supplies (GCS) businesses in the US and the UK.
The S61-million deal is expected to become effective in a couple of months.
GCS is one of three divisions of Bilcare and the company has retained this business in Asia.
Praful Naik, Executive Director, Bilcare, said the deal will bring synergy and provide greater support to existing customers that are global innovator pharma companies across Asia, Europe and the US.
The clinical trials business requires a great deal of support spanning supply of drugs being tested in a form available for use, in the required potency, along with placebo and new molecules if any, to collation and compilation of data.
This deal will help cut the time required for clinical trials significantly a Bilcare official said. With revenue of €1.7 billion, United Drug is an international provider of healthcare services.