Alliance Boots buys German distributor Megapharm

The acquisition of Megapharm, which distributes oncology products, has been approved by European Union competition regulators and will extend Alliance Boots’ reach in the specialty drugs sector.

The move is the latest in a string of acquisitions by Alliance Boots, which is focusing on building its international presence.

Megapharm will become part of the pharmaceutical wholesale division of Alliance Boots, led by board member and wholesale and commercial affairs director Ornella Barra.

Megapharm chief executive Dr Matthias Ackermann will retain a 10 per cent stake and continue to head the business. Revenue at Megapharm in the year to March 31 was about£235 million.

Alliance Boots executive chairman Stefano Pessina said: “This significant acquisition in the highly attractive oncology segment of the market will further extend the range of specialist added-value services we offer our manufacturer and pharmacist customers and is in line with our strategy of broadening our wholesaling services beyond traditional pharmaceutical wholesaling.”