Unichem in merger deal

Unichem in merger deal

UniChem, the pharmaceuticals distributor chaired by former Chancellor of the Exchequer, Kenneth Clarke, is to merge with Alliance Sante in a deal worth pounds 278m. The new company, Alliance UniChem, will be one of the leading healthcare companies in Europe. Alliance Sante has significant market positions in both France and Italy. The deal ends UniChem's search for a partner which began when it lost the battle for control for Lloyds Chemists to Gehe of Germany earlier this year. The enlarged group will have combined sales of almost pounds 5bn and profits before re-structuring costs of pounds 102m.