LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:
Eurofins Scientific (Paris:ERF) (EUFI.PA), a world leader in biopharmaceutical testing, announces the acquisition of Alphora Research Inc. (“Alphora”), a full service contract research, development and manufacturing organization (CRDMO) for complex and niche small molecule active pharmaceutical ingredients (APIs), based in Mississauga, Ontario, Canada.
Alphora has extensive capabilities in multi-step syntheses, as well as the development of cytotoxic and highly potent APIs. It operates two fully integrated facilities to address a wide array of API challenges, providing a full spectrum of complex API development, testing and manufacturing services. As such the company supports biopharmaceutical companies from the preclinical phase through to commercialization of niche products, and is an ideal complement to Eurofins’ discovery and other biopharmaceutical testing activities. Alphora has grown rapidly since it was founded in 2003, and expects to generate revenues in excess of CAD 30m in 2017, with organic growth and EBITDA margin well above Eurofins’ objectives.
Alphora’s expertise in API development, testing and manufacturing provides Eurofins entry into the dynamic and growing CRDMO market. It is uniquely positioned to capitalize on the strong growth and positive trends in the API industry, which are driven by the increasing importance of outsourcing in biopharmaceutical R&D, limited API manufacturing capacity in North America, and increased funding for early stage discovery and development. Furthermore, Alphora is ideally positioned to support the development of discovery candidates that emerge from Eurofins’ extensive drug discovery platform. In addition to Eurofins’ existing capabilities in preclinical, clinical, and GMP product testing, this acquisition of Alphora further strengthens the Group’s highly compelling and integrated offering to enable clients to progress through the entire drug development process.
Comment from Dr. Gilles Martin, Eurofins CEO: “We are pleased to welcome Alphora to the Eurofins Group. Alphora’s competencies and footprint further strengthen Eurofins’ global leadership in the rapidly-growing biopharmaceutical testing market. We look forward to strengthening their portfolio and operating footprint by providing access to the full range of services and capabilities of the Group.”
For more information, please visit www.eurofins.com
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific through its subsidiaries (hereinafter sometimes “Eurofins” or “the Group”) believes it is the world leader in food, environment and pharmaceutical products testing and that it is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics, discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 28,000 staff in 310 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group objective is to provide its customers with high-quality services, accurate results on time and expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both 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 and the most comprehensive range of testing methods.
As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.
The shares of Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement of Eurofins Scientific’ 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 guarantee can be made as to their validity.