Snyder Communications to buy NRS Inc.

Maryland Watch

November 26, 1998

Snyder Communications Inc., a developer of marketing programs for large companies, agreed yesterday to buy NRS Inc. for $24.4 million in stock to strengthen its services to pharmacies and drugstores nationwide.

Bethesda-based Snyder said the acquisition of NRS will be accounted for as a pooling of interests and may add slightly to 1998 and 1999 earnings. It had 1997 sales of $333.4 million.

Closely held NRS, based in Danbury, Conn., provides marketing services to more than 13,000 pharmacies and drugstores and 7,000 retailers in the United States.

Snyder said the acquisition will give it access to almost all pharmacies and drug retailers in the country. The company provides services to 18 of the world's 20 largest pharmaceutical makers, it said.

"We believe NRS' direct access to the nation's pharmacies can be leveraged to provide significant value to our clients and shareholders," Chairman and Chief Executive Officer Daniel M. Snyder said in a statement.

Snyder bought 12 companies last year and seven so far this year.

Shares in Snyder fell 81.25 cents to close at $34.0625 yesterday.

Pub Date: 11/26/98

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.