31 March 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; E-mail: email@example.com