Eurofins acquires India-based preclinical CRO

By Melissa Fassbender contact

- Last updated on GMT

Eurofins is a laboratory and analytical testing services provider. (Image: iStock/macgyverhh)
Eurofins is a laboratory and analytical testing services provider. (Image: iStock/macgyverhh)
Eurofins Scientific has acquired the India-based preclinical CRO Advinus Therapeutics after raising €650m.

Eurofins signed a definitive agreement with individual shareholders of Advinus Therapeutics and Tata Sons, Tata Industries, and Rallis India.

Advinus is a preclinical CRO providing safety assessment, CMC, DMPK, and analytical research and development services. The company operates a 20,000 sq meter facility in Bangalore, India.

The transaction, terms of which have not been disclosed, is expected to close in the next several weeks.

Advinus has substantial capabilities that are in synergy with Eurofins and provide us with additional opportunities to grow the company​,” Rajiv Malik, Advinus CEO, commented in the press release.

The acquisition follows an announcement that Eurofins successfully raised €650m ($759.17m) in its most recent senior unsecured Euro bond public issuance.

The proceeds will be used for general corporate purposes, including debt refinancing, as well as to fund “any further growth opportunity in-line with the Group’s strategy and objectives​,” according to the company.

Dr. Gilles Martin, Eurofins CEO commented in the release that the bond strengthens the company’s ability “to respond swiftly to compelling opportunities​” – following good market conditions and strong M&A activity this year, he added.

As previously​ reported, Eurofins also acquired the drug ingredient manufacturing and testing services firm Alphora Research in June. The deal adds two facilities to Eurofin’s network of drug testing laboratories.

Eurofins did not respond to a request for comment.

Related news

Show more

Related products

show more

Local lab Data Management

Local lab Data Management

Q2 Solutions | 01-May-2020 | Data Sheet

When a clinical trial requires local or point-of-care laboratory testing, managing the resulting data can be a significant burden to both the sponsor and...

Q2 Solutions: Corporate Brochure

Q2 Solutions: Corporate Brochure

Q2 Solutions | 17-Apr-2020 | Product Brochure

We are an innovative, progressive and responsive partner with the global experience, medical expertise and focus on quality that is integral to drug, medical...

Global Clinical Trial Lab Services

Global Clinical Trial Lab Services

Q2 Solutions | 01-Apr-2020 | Product Presentation

As a leading global lab services partner, we provide operational excellence, scientific leadership and innovation through technology. We offer end-to-end...

Related suppliers

Follow us

Products

View more

Webinars