LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:
Eurofins Scientific SE (Paris:ERF):
Eurofins Scientific (EUFI.PA), the global leader in food, environment, pharmaceutical and cosmetic product testing and a global scientific leader in bioanalytical testing, announces the acquisition of assets to establish a fully-equipped, state-of-the-art laboratory campus in Genome Valley, Hyderabad. The acquisition includes a facility capable of supporting large global and Indian pharmaceutical clients as well as small biotech companies in the areas of synthetic organic chemistry, analytical R&D, bioanalytical services (for both large and small molecules), in-vivo pharmacology, safety toxicology and formulation R&D. The state-of-the-art laboratories occupy over 90,000 ft2.
The announcement was made after Minister Mr KT Rama Rao’s meeting with Eurofins management at the World Economic Forum in Davos. Mr Jayesh Ranjan IAS, Principal Secretary, Industries and Commerce Department and Mr Shakthi M Nagappan, Director Lifesciences, Government of Telangana were also present during the meeting.
With this investment through its subsidiary Eurofins Advinus, the Eurofins network now has a significant campus in Hyderabad that complements its existing operations in India with additional capacity in discovery chemistry, analytical chemistry and bioanalytical services. The investment will also allow Eurofins Advinus to extend its service offering to deliver formulation development as well as in-vitro and in-vivo biology capabilities from early 2023.
Hyderabad is regarded as the epicentre of drug discovery and development services in Asia, while Genome Valley is India’s first organised cluster for Life Sciences R&D and Clean Manufacturing activities, with world-class infrastructure facilities in the form of Industrial / Knowledge Parks, Special Economic Zones (SEZs), multi-tenanted dry and wet laboratories and incubation facilities. Genome Valley is home to more than 200 companies with a scientific workforce of about 15,000 professionals, working for industry leaders in global and Indian pharmaceuticals. This investment by Eurofins Advinus further reinforces the position of Hyderabad as a world class location for drug discovery.
Comment from Dr Gilles Martin, Eurofins CEO: “Eurofins is committed to long-term investments to grow our globally leading laboratory network. Given the importance of India in global pharmaceutical R&D value chains, we are very excited about our new Hyderabad campus so we can better serve this important centre for pharmaceutical development and innovation.”
Comment from Honorable Minister, Mr K.T. Rama Rao: “I am delighted to announce the entry of Eurofins in Hyderabad and Genome Valley. I am extremely thrilled to note that the company has ambitious growth plans from this facility. With this investment, Eurofins joins an illustrious list of global companies in Genome Valley. The Telangana Government is committed to supporting Eurofins and their plans.”
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 discovery pharmacology, forensics, advanced material sciences and agroscience Contract Research services. Eurofins is also a market leader in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in BioPharma Contract Development and Manufacturing. The Group also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.
With over 61,000 staff across a decentralised and entrepreneurial network of 940 laboratories in 59 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 and 2021, 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 40 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.
