Eurofins Scientific acquires PHAST – extends biopharmaceutical leadership in Germany
Eurofins Scientific, a global leader in the biopharmaceutical testing industry, has just extended its market share in Europe. The company has pursued growth through acquisition for some time now, and its latest purchase – PHAST Gesellschaft für Pharmazeutische Qualitätsstandards mbH (“PHAST”) – will make a significant addition to its core business. PHAST is “one of Europe’s leading service providers in the field of pharmaceutical products quality,” according to Eurofins’ press release.
Eurofins’ share price has edged up slightly over the last five days
Source: Yahoo Finance
PHAST has an outstanding reputation as one of Germany’s biggest and best, when it comes to pharmaceutical testing. The company has over ten years of compliance with the GMP (Good Manufacturing Practice) and FDA (Food and Drug Administration) – a stellar track record. It has multiple sites in Germany and Switzerland, including “two state of the art laboratory facilities totaling 6,000 m2, with ample space for expansion.” Last year, it brought in around €24 million in revenue, and employed approximately 300 people.
This purchase will undoubtedly strengthen Eurofins core business of pharmaceutical testing, and it will also increase the company’s ability to capitalise on the “strong growth” and “positive trends” driving the BioPharma industry.
Eurofins CEO Dr. Gilles Martin made the following comment to the press: “We are pleased to welcome PHAST, an expert in pharmaceutical product testing, to the Eurofins Group. PHAST’s competencies and footprint further strengthen Eurofins’ global scientific leadership in the growing biopharmaceutical product testing market. PHAST will reinforce the position of Eurofins in Germany and Switzerland.”
“In return, PHAST will be able to offer additional services to their customers leveraging Eurofins’ global GMP network. We look forward to strengthening their portfolio and operating footprint by providing them access to the full range of services and capabilities of the Group. This transaction is another demonstration of Eurofins’ commitment to expand its global state-of-the-art network of BioPharma Product Testing laboratories.”
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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