UBM pays [euro]283m for pharmaceutical publisher.

(From FT Investor (Pulses))

United Business Media, the UK business publisher, is buying trade press titles in the pharmaceutical sector from MediMedia, a French medical information group, for [euro]282.5m. UBM, which owns part of Britain's Channel Five and PR Newswire, is set to integrate MediMedia's continental European and Asian drug and patient education publications into its own healthcare business. Clive Hollick, UBM's chief executive, said: "MediMedia's market leading products generate a high level of recurring revenues and have good growth potential, which would be accelerated in tandem with other UBM …