(UDG) United Drug
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RNS Number : 1323X United Drug PLC 09 February 2012 Standard Form TR-1 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached [ii]: United Drug PLC 2. Reason for the notification (please tick the appropriate box or boxes): [x ] an acquisition or disposal of voting rights [ ] an acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached [ ] an event changing the breakdown of voting rights 3. Full name of person(s) subject to the notification obligation[iii]: Ameriprise Financial Inc 4. Full name of shareholder(s) (if different from 3.)[iv]: Columbia Wanger Asset Management LLC & Columbia Management Investment Advisers LLC 5. Date of the transaction and date on which the threshold is crossed or reached[v]: 07/02/2012 6. Date on which issuer notified; 09/02/2012 7. Threshold(s) that is/are crossed or reached: 5% 8. Notified details: 1. 1. 1. 1.
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable[xvii]:
Ameriprise Financial, Inc., which through intermediate holding companies controls the voting rights of Columbia Management Investment Advisers LLC, Columbia Wanger Asset Management LLC, Threadneedle Management Luxembourg S.A. and Threadneedle Asset Management Holdings Ltd, which itself controls the voting rights of Threadneedle Asset Management Ltd, Threadneedle International Ltd and Threadneedle Pensions Ltd.
Columbia Wanger Asset Management LLC - 10,657,300 Shares Columbia Management Investment Advisors LLC - 850,000 Shares 10. In case of proxy voting: [name of the proxy holder] will cease to hold [number] voting rights as of [date]. 11. Additional information: Done at Threadneedle Asset Management Holdings Ltd, Holbrook House, Station Road, Swindon SN1 1HH on 09/02/12 Notes to Form TR-1
[i] This form is to be sent to the issuer or underlying issuer and to be filed with the competent authority.
[ii] Either the full name of the legal entity or another method for identifying the issuer or underlying issuer, provided it is reliable and accurate.
[iii] This should be the full name of (a) the shareholder; (b) the natural person or legal entity acquiring, disposing of or exercising voting rights in the cases provided for in Article 10 (b) to (h) of Directive 2004/109/EC; (c) all the parties to the agreement referred to in Article 10 (a) of that Directive, or (d) the holder of financial instruments entitled to acquire shares already issued to which voting rights are attached, as appropriate.
In relation to the transactions referred to in points (b) to (h) of Article 10 of that Directive, the following list is provided as indication of the persons who should be mentioned:
- in the circumstances foreseen in letter (b) of Article 10 of that Directive, the natural person or legal entity that acquires the voting rights and is entitled to exercise them under the agreement and the natural person or legal entity who is transferring temporarily for consideration the voting rights;
- in the circumstances foreseen in letter (c) of Article 10 of that Directive, the natural person or legal entity holding the collateral, provided the person or entity controls the voting rights and declares its intention of exercising them, and natural person or legal entity lodging the collateral under these conditions;
- in the circumstances foreseen in letter (d) of Article 10 of that Directive, the natural person or legal entity who has a life interest in shares if that person or entity is entitled to exercise the voting rights attached to the shares and the natural person or legal entity who is disposing of the voting rights when the life interest is created;
- in the circumstances foreseen in letter (e) of Article 10 of that Directive, the controlling natural person or legal entity and, provided it has a notification duty at an individual level under Article 9, under letters (a) to (d) of Article 10 of that Directive or under a combination of any of those situations, the controlled undertaking;
- in the circumstances foreseen in letter (f) of Article 10 of that Directive, the deposit taker of the shares, if he can exercise the voting rights attached to the shares deposited with him at his discretion, and the depositor of the shares allowing the deposit taker to exercise the voting rights at his discretion;
- in the circumstances foreseen in letter (g) of Article 10 of that Directive, the natural person or legal entity that controls the voting rights;
- in the circumstances foreseen in letter (h) of Article 10 of that Directive, the proxy holder, if he can exercise the voting rights at his discretion, and the shareholder who has given his proxy to the proxy holder allowing the latter to exercise the voting rights at his discretion. [iv] Applicable in the cases provided for in Article 10 (b) to (h) of Directive 2004/109/EC. This should be the full name of the shareholder who is the counterparty to the natural person or legal entity referred to in Article 10 of that Directive unless the holdings of the shareholder would be lower than 5% of the total number of voting rights.
[v] The date of the transaction should normally be, in the case of an on exchange transaction, the date on which the matching of orders occurs; in the case of an off exchange transaction, date of the entering into an agreement.
The date on which threshold is crossed should normally be the date on which the acquisition, disposal or possibility to exercise voting rights takes effect. For passive crossings, the date when the corporate event took effect.
[vi] Please refer to the situation disclosed in the previous notification. In case the situation previous to the triggering transaction was below 3%, please state "below 3%".
[vii] If the holding has fallen below the minimum threshold, the notifying party should not be obliged to disclose the extent of the holding, only that the new holding is below 3%.
For the case provided for in Article 10(a) of Directive 2004/109/EC, there should be no disclosure of individual holdings per party to the agreement unless a party individually crosses or reaches an Article 9 threshold. This applies upon entering into, introducing changes to or terminating an agreement.
[viii] To be used in Member States where applicable.
[ix] Direct and indirect.
[x] To be used in Member States where applicable.
[xi] In case of combined holdings of shares with voting rights attached "direct holding" and voting rights "indirect holding", please split the voting rights number and percentage into the direct and indirect columns - if there is no combined holdings, please leave the relevant box blank.
[xii] Voting rights attached to shares held by the notifying party (Article 9 of Directive 2004/109/EC).
[xiii] Voting rights held by the notifying party independently of any holding of shares (Article 10 of Directive 2004/109/EC).
[xiv] If the holding has fallen below the minimum threshold, the notifying party should not be obliged to disclose the extent of the holding, only that the new holding is below 3%.
[xv] Date of maturity/expiration of the financial instrument i.e. the date when right to acquire shares ends.
[xvi] If the financial instrument has such a period - please specify this period - for example once every 3 months starting from [date].
[xvii] The notification should include the name(s) of the controlled undertakings through which the voting rights are held. The notification should also include the amount of voting rights and the percentage held by each controlled undertaking, insofar as individually the controlled undertaking holds 3% or more, and insofar as the notification by the parent undertaking is intended to cover the notification obligations of the controlled undertaking.
This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange More |
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RNS Number : 0703X United Drug PLC 08 February 2012
This announcement has been issued through the Companies Announcement Service of The Irish Stock Exchange.
This information is provided by RNS The company news service from the London Stock Exchange More |
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RNS Number : 9664W United Drug PLC 07 February 2012 United Drug plc
Mr. Peter Gray Succeeds Mr. Ronnie Kells as Chairman
On 3 January 2012, United Drug plc ('the Company') announced the planned retirement of its Chairman Mr. Ronnie Kells following the conclusion of the Company's Annual General Meeting on 7 February 2012, and the appointment of Mr. Peter Gray as Chairman Designate to succeed Mr. Ronnie Kells. Following today's Annual General Meeting, Mr. Ronnie Kells has retired from the Board and Mr. Peter Gray has taken over as Chairman of the Company.
Mr. Ronnie Kells was appointed Chairman in October 2005 having served as a Non-Executive Director of the Company since 1999.
Mr. Peter Gray has been a Non-Executive Director of the Company since 2004. Mr. Gray is Vice Chairman and former Chief Executive of ICON plc and is also a Non-Executive Director of Danica Life Limited.
Ends 7 February 2012
For reference: Karen Geoghegan Company Secretary Tel: +353-1-4632300
About United Drug plc Listed on the Stock Exchanges in London and Dublin, United Drug is a leading international provider of services to healthcare manufacturers and pharmaceutical retailers, with operations in the UK, Ireland, the Netherlands, Belgium and the US.
The Company operates across three divisions, Healthcare Supply Chain, Sales, Marketing & Medical and Packaging & Specialty.
In Healthcare Supply Chain, United Drug is the largest pharmaceutical wholesaler in the island of Ireland. It is also the market leader in contract distribution outsourcing (pre-wholesaling) in Ireland and has achieved the No. 1 position in the UK through its joint venture business UniDrug Distribution Group (UDG). The Company provides specials medicines manufacturing and distribution services in the UK. Through its medical & scientific operations, United Drug provides sales & marketing and technical service solutions, including contract distribution services to a wide range of medical & scientific equipment & consumable manufacturers, with a market leading position in Ireland and an emerging presence in the UK.
In the Sales, Marketing & Medical division, United Drug is the leading provider of contract sales outsourcing services to pharmaceutical manufacturers in the UK and Ireland and has a growing presence in the US market. United Drug also provides related marketing services to pharmaceutical manufacturers in each of these markets.
In the Packaging & Specialty division United Drug is a leading international provider of pharmaceutical contract packaging services with facilities in the US, UK, Dutch and Belgian markets. The Company also provides speciality distribution and homecare services in the UK and Ireland.
Further information on United Drug plc is available on the Group's website, www.united-drug.com.
This information is provided by RNS The company news service from the London Stock Exchange More |
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RNS Number : 9659W United Drug PLC 07 February 2012 UNITED DRUG PLCRESULT OF AGM
United Drug plc (the 'Company') announces that all resolutions proposed at the Annual General Meeting of the Company held on Tuesday, 7 February 2012 were passed. The full text of each resolution was included in the Notice of Annual General Meeting of the Company, circulated to shareholders on 6 January 2012 and made available on the Company's website
In accordance with the Listing Rules two copies of the resolutions passed at the Annual General Meeting are being forwarded to the Irish Stock Exchange and to the UK's National Storage Mechanism. The documents will shortly be available for inspection at:
Company Announcement Office The Irish Stock Exchange 28 Anglesea Street Dublin 2 Ireland Tel. no. + 353 1 6174200
and at
http://www.hemscott.com/nsm.do
ENDS
For reference: Karen Geoghegan Pauline McAlester Company Secretary Murray Consultants Tel: +353-1-4632300 Tel: +353-1-4980300
This information is provided by RNS The company news service from the London Stock Exchange More |
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Nothing new to post, so anyone for this?
Iran supply threat http://www.guardian.co.uk/business/2011/dec/28/oil-prices-iran-supply-threat What's being pawned? http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8980119/Whats-being-pawned-in-cash-strapped-Britain.html Italy's borrowings halved? http://www.guardian.co.uk/business/2011/dec/28/italy-borrowing-costs-tumble-debt-auction Make money from volatility? http://www.telegraph.co.uk/finance/markets/questor/8975105/Questor-Make-money-from- ------------------------------------------------------------------- Top 100 performers - 2011 AIM stocks dominate. HOW MANY OF YOUR STOCKS ARE ON THIS LIST? Some of my favourites are there, and including No. 28 VALiRx, which completely took pi's by surprise ! http://uk.finance.yahoo.com/news/aim-stocks-once-again-dominate-102943327.html |
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| 18-11-11 | ||||
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United Drug - Outsourcing partner Click for report
http://www.edisoninvestmentresearch.co.uk/researchreports/United_Drug181111QV.pdf Fri, Nov 18, 2011 at 4:22 PM United Drug is a major beneficiary of the trend of increased outsourcing by pharmaceutical companies faced with governmental price cuts and austerity measures. It stands to gain from increasing globalisation in each of its business areas of marketing, wholesaling and packaging. Strong financials should enable it to consolidate its leading market positions via organic growth and acquisition. United Drug is an Ireland-based company specialising in pharmaceutical supply chain, packaging, sales and marketing, medical and regulatory services. It employs 5,000 people and is diversifying its business from the UK and Ireland, helped by pharmaceutical industry outsourcing. Consensus estimates Year End Revenue (m) PBT (m) EPS () DPS () P/E (x) Yield (%) 09/10 1,726 57.4 0.23 0.06 9.0 2.9 09/11 1,746 68.5 0.23 0.09 9.0 4.3 09/12e 1,823 61.1 0.24 0.10 8.7 4.8 09/13e 1,872 66.1 0.25 0.10 8.3 4.8 Edison's QuickView notes are normally one-off publications with no commitment to writing any follow up. QuickView notes use consensus earnings estimates. |
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| 11-08-11 | ||||
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Davy Research
http://www.davy.ie/LR?id=1463 Davy Research Report United Drug (UDG ID) Full-year operating profits to exceed last year's out-turn 11 August 2011 Jack Gorman Closing Price: 202c Rating: Outperform 30/06/09 FACTS: Group revenues and operating profits for the nine months to June 30th 2011 are ahead of last year and in line with company expectations. FY guidance is for operating profit to exceed last year. ANALYSIS: The shape of the full-year out-turn looks as though it will be very much as expected, and similar to recent years' trading: strong advances in the contract sales and packaging divisions, offset somewhat by more difficult trading in the healthcare supply division, largely due to the Irish business. Cash flow generation remains healthy. The Sales, Marketing & Medical division traded strongly through the period and sales and profit are well ahead of the previous year. The growth has been driven by acquisitions as well as some organic. The US contract sales outsourcing business and the US medical affairs business are said to be both performing strongly. The Healthcare Supply Chain division is trading in line with company expectations but revenues and profits are lower year-on-year due to the continued regulatory pressures in Ireland. Market share gains continue to offset this pressure in part, but our working assumption is that intense pressure on profitability will be a constant feature of trading. The Packaging & Speciality division has been boosted this year by the US packaging business which has reported another strong quarter. European packaging continues to lag, while no new news was provided on the Medco JV. UDG also announced a rationalisation programme that will trim its cost base in Ireland and also accelerate the integration of some recent acquisitions in the Sales, Marketing & Medical division. This will cost 9m, spread evenly between the Irish and marketing activities; we assume this is all a cash charge. These measures are expected to deliver annualised savings in excess of 5m, the majority of which will accrue over the course of fiscal year ended September 2012. DAVY VIEW: With this year about to be safely negotiated, UDG has again demonstrated a capacity to generate solid earnings in a very challenging trading environment, especially in its home market which as noted today, now represents less than 35% of group profits. This performance becomes more impressive when it is contrasted with healthcare peer, Celesio: it has reported a 16% fall in EBITDA (see below). As we highlighted in our August 9th report, de-sensitising the Irish influence on group performance is well underway and increased scale in its other supply chain divisions will provide a means to expand long-term margin and ROCE. |
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| 18-06-11 | ||||
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Davy Research
Davy Research Report United Drug (UDG ID) Long-term focus intact, with a rich short-term pipeline ex-Ireland 17 June 2011 Jack Gorman http://www.davy.ie/LR?id=997 Closing Price: 232c Rating: Outperform 30/06/09 FACTS: United Drug (UDG) hosted an investor day in London on June 16th. ANALYSIS: In what is expected to become an annual event, UDG provided an in-depth review of the constituent segments within the group. It spanned both its core, traditional wholesaling operations in Ireland/UK as well as its less regulated, higher growth units in supply chain outsourcing in the UK, EU and US. We will gather our thoughts on the event in the next few days, but in the meantime we present some of the key takeaways: Rich pipeline in the short term. A significant number of contracts have either been recently won or are being pitched for at present, according to divisional management. These included: pipeline in UK pre-wholesaling, with three top-ten pharma contracts signed in the last six months, with two more being pitched for currently; EU packaging, with six US companies looking to enter the European market; and the sales, marketing and medical division with an ongoing project flow of US contracts for sales reps and for call centre solutions. Although Sharp Corp did not present, business there continues to perform very well by all accounts and will generate double-digit ROCE this year. The cumulative financial impact was not outlined but these are clearly encouraging developments. Ireland will remain a challenge, but will fund group growth. UDG is continuing to manage severe regulatory pressure better than its peers. The company expects pricing pressure to continue as we do though there remains plenty of scope to further rationalise the operations in the coming year or two. What surprised us on the upside was the cash generation from this unit: over 100m in the last three years. Cash conversion will stay well above 100% of EBIT, and will fund UDG's expansion plans outside of Ireland. Scale is critical to the group ex-Ireland. Taking the longer-term view, UDG is unlikely to expand its breadth of services much beyond what it has today. As such, the expansion will be about building more scale in each business unit and region, and servicing more channels (i.e. becoming involved in packaging and marketing drugs in pre-approval phase rather than just the post-approval phase). This makes sense to us. Building scale is a top priority in our view. UK and US likely to be the main focus for M&A in the short term. With UDG's balance sheet flexibility, achieving greater scale in those regions will boost the margin and returns profile of the group. Upward margin progression. Group EBIT margins of up to 10% are achievable over time as the profits mix changes towards less regulated, non-Irish businesses (currently 4.3%). ROCE expansion potential. Low-to-mid-teen ROCEs are generated in two divisions at present, with an ambition to get a third division (packaging and speciality) into double digits in near term. DAVY VIEW: The outsourcing opportunity is clearly available to UDG and it has been demonstrated already in areas like UK contract sales. Scale remains a priority so that this potential can now be exploited in its emerging areas like packaging, speciality and homecare thereby desensitising UDG to Irish regulatory risk. We would argue that current valuations factor in very little of the earnings or rating upside that this strategic evolution will ultimately provide. |
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