UDG forms joint venture as part of Japanese expansion plan

CHARLIE TAYLOR

Healthcare services provider UDG Healthcare has formed a joint venture with CMIC to fully service the Japanese contract sales organisation market, the group said on Wednesday.

UDG is to take a 49.9 per cent stake in CMIC MPSS as part of the agreement.

The new joint venture, which is to be called CMIC Ashfield, will provide a platform for future growth within the Japanese market, USG said.

The agreement formalises the existing partnership with CMIC, which began in 2012. The CMIC group is a full service contract pharmaceutical company which is headquartered in Japan.*

“Our partnership with CMIC in the Japanese market has already delivered excellent results and has far exceeded our initial expectations. CMIC is well established in the Japanese market and will further strengthen UDG Healthcare’s presence in the second largest global pharmaceutical market,” said UDG chief executive Liam FitzGerald.

“With our combined resources and expertise, we look forward to fully developing a market leading contract sales business in Japan providing evidence-based solutions for the healthcare industry,” he added.

*edited October 2nd