By Jill Park

United Drug's packaging and speciality division has been hit by lower volumes from a key UK customer, the company revealed today.

 

In an interim management statement, the international healthcare services company reported that customers were struggling with their revenue streams.

 

It was revealed that the packaging and speciality division had experienced some delay in the release of packaging orders, particularly in the US.

 

Consequently, group results for the first half of the financial year were expected to be down compared with the first half of 2008.

 

At the end of 2008, the company streamlined its business into three divisions: Healthcare and Supply Chain, Packaging and Speciality and Contract Sales and Marketing Services.

 

Following this, on 22 January 2009 United Drug announced a restructuring programme that would embed the new divisional structure and review the cost base across the group.

 

However, in the first quarter the company acquired The Specials Laboratory, a leading manufacturer of unlicensed medicines in the UK, and the group continues to explore growth and acquisition opportunities.

 

United Drug is a leading international provider of services to healthcare manufacturers and pharmaceutical retailers, with operations in the UK, Ireland, Holland, Belgium and the US.

 

Through its Packaging and Speciality division the company provides contract packaging and speciality distribution in the US, UK, the Netherlands and Belgium.

From: packagingnews.co.uk