Pharmaceutical wholesaler falls into administration
By Neil Trainis
A pharmaceutical wholesaler that operates from 14 sites in the UK and serves around 4,000 customers has fallen into administration.
Doncaster Pharmaceuticals Group along with the pharmaceutical companies Testerworld Limited and Eclipse Generics Limited, which are all part of the Converse Pharma Group, a privately UK-owned group of companies, were appointed an administrator this week. The companies are headquartered in Doncaster and Gosforth.
Together, they employ about 1,000 people, have a combined turnover of £300m and provide wholesale distribution of pharmaceutical products across the country, trading under the Doncaster Pharmaceuticals, DE Group, Crosspharma and Eclipse brands.
Eclipse Generics Limited provides generics, parallel imports, feeds, surgicals, OTC medicines and veterinary products.
Kroll, who were appointed as administrator, told Independent Community Pharmacist it was “working with the relevant authorities to provide support to those employees affected” by the announcement and was working to lessen the impact the administration will have on the supply of medicines to pharmacies.
“Pharmaceutical distributors and wholesalers form an important link between drug manufacturers and independent pharmacies and their end customers. It is a complex chain which means we will be working closely with the relevant regulators, the management team and the Group’s secured lenders to mitigate the impact on the pharmaceutical supply chain,” Philip Dakin, one of the joint administrators from Kroll, told ICP.
“On appointment our immediate objective will be to conduct an orderly wind down of the trading operations. The possibility of some small trade sales of parts of the business, has not been ruled out as we aim to maximise the return for creditors.”
ICP asked Converse Pharma to comment but got no response.