LANCASTER, Calif.--(BUSINESS WIRE)--Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of modeling and simulation software and consulting services for the pharmaceutical, biotechnology, and chemicals industries, today announced that it has signed a distributor agreement in India with Electrolab India Pvt. Ltd.
John DiBella, vice president for marketing and sales of Simulations Plus, said: “The Indian pharmaceutical market has enjoyed robust growth this past decade, especially in the areas of generic product development and drug delivery, and this is expected to continue going forward. To capitalize on this opportunity, we are excited to be partnering with Electrolab, an established company with strong relationships throughout India, whose sound reputation for providing high-quality products and customer support has allowed them to capture more than 70% of the market share in the pharmaceutical equipment space. We expect Electrolab’s expertise in dissolution and absorption testing to complement our offerings well. The extensive sales and technical support network should allow us to further penetrate the Indian market, helping us achieve our strategic goals.”
Aditya Marfatia, Director at Electrolab, added: “The use of drug discovery and simulation software has increased in North America and Europe over the past decade, and we strongly believe increased adoption within the Indian pharmaceutical industry will help bring new drugs and generic products to market in a faster and more cost-effective way. We are excited to be partnering with Simulations Plus, whose industry-leading software programs have been successfully referenced in numerous regulatory submissions. We look forward to increasing awareness of this technology with Simulations Plus and supporting users throughout India.”
About Simulations Plus, Inc.
Simulations Plus, Inc. is a premier developer of drug discovery and development software as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical and biotechnology agents. Our software is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies and regulatory agencies worldwide. Our innovations in integrating new and existing science in medicinal chemistry, computational chemistry, pharmaceutical science, biology, and physiology into our software have made us the leading software provider for physiologically based pharmacokinetic modeling and simulation. For more information, visit our website at www.simulations-plus.com.
About Electrolab (India) Pvt. Ltd.
Established in 1984, Electrolab manufactures pharmaceutical testing equipment and peristaltic pumps which are used in several industries. Electrolab is the leading provider of dissolution and allied equipment in India with a presence in most of the pharmaceutical companies. Its extensive technical sales and support network around India allows for prompt local support and has helped Electrolab evolve into a highly successful sales, marketing, service and support organization. For more information, visit our website at www.electrolabgroup.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.