Kirk Distributors Buys Federated Pharmaceutical

Statement by Kirk Distributors Limited on the Purchase of Federated Pharmaceutical

Kirk Distributors Limited has signed an agreement with J. Wray & Nephew Limited to purchase that company’s Federated Pharmaceutical (FP) division
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This purchase signals our entry into the pharmaceutical industry after having concentrated for the past eight years on solidifying our fast moving consumer goods distribution business. Federated Pharmaceutical has a 55-year legacy of developing strong brands, including Cetamol and DPH, which are household names in Jamaica. Kirk Distributors plans to expand these lines to increase current market share, and also explore opportunities overseas including the United States where the brands are well known by Jamaicans in the tri-state area and Florida.

Federated Pharmaceutical also has excess manufacturing capacity which will present opportunities for contract manufacturing of ethical (prescription) pharmaceuticals and over the counter (OTC) medications through arrangements with existing partners. These arrangements will be especially attractive in the case of OTCs, which traditionally attract high duties upon entering Caricom.

The closing of the deal is expected by March 31, 2015.

Contact:
Lanna Bennett (Mrs.)
Kirk Distributors Limited
Tel: (876) 923-7011