Eurofins enhances clinical and COVID-19 testing offering in Japan through acquisition of Genetic Lab Co.,Ltd.
Eurofins Scientific (EUFI.PA), the global scientific leader in bioanalytical testing and a leader in clinical diagnostics testing, announces a share purchase agreement with Transgenic Inc. (2342:JP, Tokyo stock exchange) to acquire Genetic Lab Co.,Ltd. (“G Lab”), a molecular biology based testing provider for diagnostics, biomarker development and drug discovery. The acquisition will further enhance Eurofins’ expansion in Asia and complement its global network of clinical diagnostics laboratories focused on specialised and advanced genetic testing.
G Lab employs over 70 staff and generated revenues of over EUR 13m in the financial year ending March 2021. Initially established as a genetics technology based bio venture in 2000, G Lab has developed a reputation among clinical communities in Japan for the CAP accredited quality services provided by its technical experts, in-house medical pathologists and cytotechnologists. G Lab also provides diversified testing services supporting biomarker development for companion drugs. Since Mar 2020, G Lab has played an important role in the COVID-19 response in Japan, by facilitating PCR testing, and supporting Hokkaido prefecture and Sapporo city with their COVID-19 testing programmes
Through this acquisition, the Eurofins network will further strengthen its position in the Japanese market, where it is currently the market leader in environment testing and non-invasive prenatal testing, by extending its service offering in BioPharma services and clinical testing in Japan, notably increasing its COVID-19 testing product and service offering to support the fight against the pandemic.
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About Eurofins – the global leader in bio-analysis
Eurofins is Testing for Life. Eurofins is the global leader in food, environment, pharmaceutical and cosmetic product testing and in agroscience Contract Research services. Eurofins is also one of the market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, BioPharma Contract Development and Manufacturing, advanced material sciences and in the support of clinical studies. The Group also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.
With 55,000 staff across a decentralised and entrepreneurial network of 900 laboratories in over 50 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.
The Group’s objective is to provide its customers with high-quality services, innovative solutions and accurate results on time. Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the requirements of healthcare practitioners around the world.
In 2020, Eurofins reacted quickly to meet the global challenge of COVID-19, by creating the capacity to help over 20 million patients monthly who may have been impacted by the pandemic with our testing products and our services and directly supporting healthcare professionals working on the front line to fight the virus. The Group has established widespread PCR testing capabilities and has carried out over 30 million tests in its own laboratories, is supporting the development of a number of vaccines and has established its SAFER@WORK™ testing, monitoring and consulting programmes to help ensure safer environments, travel and events during COVID-19.
Eurofins has grown very strongly since its inception and its strategy is to continue expanding 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.
Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).
Until it has been lawfully made public widely by Eurofins through approved distribution channels, this document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended.
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 judgment of Eurofins Scientific’s 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 guarantees can be made as to their completeness or validity.