Eurofins acquires Amatsigroup, furthers biopharmaceuticals lead
Eurofins Scientific, the French laboratory group that has carved out a market-leading position in the global biopharmaceutical products testing market, has further consolidated its lead with a well-timed acquisition. For the past few years, Eurofins has pursued an acquisition heavy growth strategy that has yielded some excellent results – the company will be hoping that this latest acquisition – of biopharmaceutical tester Amatsigroup for €130 million – will prove similarly successful.
Eurofins share price has risen by 34% year to date
SOURCE: Yahoo Finance
Amatsigroup is an international contract development and manufacturing organization, and it provides “preclinical and clinical phase services for the development of human and veterinary drugs.” In short, this means that the company tests medicines before they are regulated, giving drugmakers solid scientific evidence to take to regulators and get their products to market. It’s a big company with an international footprint, and it should sit well with Eurofins’ current service offerings.
Dr. Gilles Martin, Eurofins’ CEO, said: “The acquisition of the Amatsi Group is reinforcing Eurofins leadership position into the BioPharma services line of business. Amatsi’s fast growing contract development and manufacturing (CDM) services is enabling Eurofins entry this attractive space in Europe and will be very complementary to our growing network of biopharma product testing activities in Europe. Together with Alphora, recently acquired in Canada, Eurofins is now ready to service its customers on two continents in the CDMO space.”
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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