Eurofins reinforces its leadership in the biopharmaceutical products testing market with the acquisition of Advantar Laboratories, Inc.
Thursday, March 31, 2016
Eurofins Scientific (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 or contact:
Eurofins Investor Relations
Phone: +32 2 766 1620
Notes for the editor:
Eurofins - a global leader in bio-analysis
Eurofins Scientific is the world leader in food, environment and pharmaceutical products testing. It is also 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 reliable 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).
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.