Eurofins Reinforces Its Leadership in the Biopharmaceutical Products Testing Market with the Acquisition of Advantar Laborato...
March 31 2016 - 2:00AM
Business Wire
Regulatory News:
Eurofins Scientific (Paris:ERF) (EUFI.PA), the world leader in
biopharmaceutical products testing, announces that it has signed an
agreement to acquire Advantar Laboratories Inc. (“Advantar”),
located in San Diego, California.
Advantar is one of the leading independent GLP and cGMP contract
analytical laboratories in the US west coast specializing in
analytical development and formulation services for large molecule
and small molecule programs ranging from pre-clinical through to
late phase clinical development, as well as commercially approved
drug products, medical devices and novel combination products.
Advantar has grown rapidly since its foundation just eight years
ago, and in 2015 generated revenues in excess of USD 8m, with
organic growth and EBITDA margin above Eurofins’ objective. The
company employs 50 staff at its laboratory in San Diego, serving
primarily small- to mid-size biopharmaceutical companies developing
large and small molecule drug products.
Advantar’s analytical portfolio entirely complements Eurofins’
expertise, and strengthens the Group’s biopharmaceutical products
testing footprint in the US. In addition, Advantar’s competencies
in non-sterile manufacturing of clinical supplies and commercial
products extends Eurofins’ service offering and enable further
penetration into the full support of clients’ biopharmaceutical
development programs. Advantar therefore presents an excellent
geographical and operational fit for Eurofins. In return, Advantar
will benefit from access to the complete range of Eurofins’
portfolio of services as the global reference in biopharmaceutical
products testing, as well as robust network capabilities and the
latest technologies to further improve its service offering to its
customers, thereby further increasing market share.
Comment from Dr. Gilles Martin, Eurofins CEO: “We are pleased to
welcome Advantar to the Eurofins Group. Advantar’s competencies and
geographical focus are a good fit to Eurofins’ biopharmaceutical
products testing footprint in the US. This acquisition is a further
demonstration of Eurofins’ commitment to build the best and
widest-reaching analytical testing network in the market.”
For more information, please visit
www.eurofins.com
Notes for the editor:
Eurofins – a global leader in bio-analysisEurofins
Scientific believes it is the world leader in food, environment and
pharmaceutical products testing, as well as one of the global
market leaders in agroscience, genomics, discovery pharmacology and
central laboratory services. In addition, Eurofins is one of the
key emerging players in specialty clinical diagnostic testing in
Europe and the USA.
With over 22,000 staff in more than 225 laboratories across 39
countries, Eurofins offers a portfolio of over 130,000 validated
analytical methods for evaluating the safety, identity,
composition, authenticity, origin and purity of biological
substances and products, as well as for innovative clinical
diagnostic. The Group provides its customers with high-quality
services, accurate results on time and expert advice by its highly
qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by
expanding both its technology portfolio and its geographic reach.
Through R&D and acquisitions, the Group draws on the latest
developments in the field of biotechnology and analytical chemistry
to offer its clients unique analytical solutions and the most
comprehensive range of testing methods.
As one of the most innovative and quality oriented international
players in its industry, Eurofins is ideally positioned to support
its clients’ increasingly stringent quality and safety standards
and the expanding demands of regulatory authorities around the
world.
The shares of Eurofins Scientific are listed on the Euronext
Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg
ERF FP).
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgement
of Eurofins Scientific’ management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the
information available to the Company’s management as of the date of
publication, but no guarantee can be made as to their validity.
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version on businesswire.com: http://www.businesswire.com/news/home/20160330005990/en/
Eurofins Investor RelationsPhone: +32-2-766 1620E-mail:
ir@eurofins.com
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