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Eurofins’ business is driven by people’s basic need for a safe and clean environment, to consume safe and healthy products and to live longer lives. This requires the best quality possible for the air that we breathe, the beverages that we drink, the food that we eat and the medicines that we take. Eurofins focuses its bioanalytical services on the fast-growing pharmaceutical, food and environmental testing markets. In the section below we discuss some of the key drivers for the Eurofins business.
Despite the ongoing consolidation process, the bioanalytical market is still highly fragmented with a large number of smaller and medium sized laboratories offering a limited technological portfolio, regional presence and customer reach. In contrast, the Eurofins Group offers its customers global support and comprehensive analytical services. Some fundamental growth drivers and mega-trends sustain Eurofins’ long-term growth.
Thanks to modern technology, health care and medical coverage in industrialised countries, people can live comfortably and grow old healthily. As the average wealth in these countries is increasing, the demand even for expensive pharmaceuticals is enabling people to enjoy better lives. The aversion to risk that may be associated with some foods and consumer products is also increasing. Eurofins is committed to support a healthy life-style and safe nutrition in a clean environment.
New technologies open new perspectives for applications in the pharmaceutical, food and environmental markets. In the recent years, the food industry has developed many new products, which apply new technologies and processes, e.g. for functional food.
Gene technology, for example, opens new doors to developing pharmaceuticals targeted at modifying gene function or gene expression. These may include rational drug design from the identification of new targets (genomics) or tailoring drugs for individual treatment (pharmacogenomics). An example is the development by the Eurofins VIRalliance business of a phenotypic test that measures resistance to antiretroviral drugs used in HIV therapy. Use of this type of test is essential in the development of the most effective treatments of HIV and hepatitis. Gene technology also plays an important role in the food industry with respect to Genetically Modified Organisms (GMO).
Eurofins benefits from both the technologies’ use and the control of their products. The Group is capable of developing new methods to help develop and register new pharmaceutical products and to track and analyse, for example, residues of pharmaceutical substances or GMOs in a wide range of food products. Increasingly sensitive analytical equipment and methods also act as a driver for better quality assurance. Eurofins can offer its clients an exceptionally broad portfolio of state-of-the-art bioanalytical methods to guarantee the highest quality standards.
Along with the development of new technologies and a rising standard of living in the industrialised countries, consumers are becoming increasingly aware of product safety and quality and are averse to any health risks to do with food, pharmaceuticals and the environment. The demands for higher quality goods and services, and the associated requirement for testing, are also driven by increasingly strict regulations introduced by governmental authorities, the European Commission or even worldwide standardisation bodies in the pharmaceutical, food and environmental markets.
As businesses increasingly look to global markets for their suppliers, they also become more exposed to the additional risks that are created. In particular in the food, pharmaceutical and environmental industries, supplies from areas with less or lower regulation obligations do not always meet ‘western’ standards. Eurofins is therefore also able to meet clients’ needs in South America and Eastern Europe and soon in Asia. In addition, by operating laboratories in many of the countries where these suppliers exist, it has a clear understanding of the global conditions and regulations. Furthermore, Eurofins also offers a reliable standard of high quality and extensive expertise in those local markets for global customers with similar worldwide operations.
Eurofins aims to provide its customers with as wide a range of analytical services as possible. For each customer the benefits are to have just one key account manager to deal with, better pricing deals and fewer set-up costs. Eurofins in turn is able to allow each lab in the Group to focus on their own area of expertise and yet retain customers through being able to offer a complete range of tests using other laboratories in the Group.
In times of enhanced quality and safety consciousness of consumers and global marketing of products, brands are very valuable and highly vulnerable assets that need constant protection. By carrying out the most advanced and sensitive analyses as part of their pro-active quality assurance programmes, Eurofins supports its global customers in maintaining the integrity of their brands worldwide.
To run in-house laboratories, as a rule, is seldom cost effective and therefore outsourcing to a global supplier, such as Eurofins, is becoming increasingly common. An outsourcing deal represents a win-win situation for both sides. It allows the outsourcing partner to use its capital more efficiently and to benefit from Eurofins’ expertise in operating laboratories. On the other hand, Eurofins gains a long-term partnership with global customers, allowing both parties to concentrate on their core businesses
