Pharmaceutical packaging solutions provider in India Bilcare has signed an agreement with Ireland-based United Drug to sell its global clinical supplies business in the US and the UK for Rs3400m ($61m).
Under the agreement, Bilcare’s Global Clinical Supplies (GCS) businesses in both the countries will be acquired by United Drug and Bilcare’s GCS business in Asia will be retained by the company itself.
United Drug and Bilcare GCS Asia will work to use their resources to meet the needs of their global customers across US, Europe and Asia, going forward.
The agreement will allow Bilcare GCS Asia to leverage United Drug’s capabilities and resources and meet customer requirements in the US and Europe.
Bilcare is present in three verticals including pharma packaging and research, global clinical supplies and Bilcare Technologies.