LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:
Eurofins Scientific (Paris:ERF) (EUFI.PA), a global leader in biopharmaceutical product testing services, announces that it has signed an exclusive agreement to acquire PHAST Gesellschaft für Pharmazeutische Qualitätsstandards mbH (“PHAST”), one of Europe’s leading service providers in the field of pharmaceutical products quality. The transaction is expected to close in the next few weeks, subject to the fulfilment of regulatory and customary closing conditions.
With more than 10 years of Good Manufacturing Practice (GMP) and Food and Drug Administration (FDA) compliance, PHAST serves the whole range of the Biotech and Pharmaceutical industry with a strong footprint in Germany and Switzerland. PHAST is best known for its finished product testing business, where it serves as a strategic partner to medium and large (bio)pharmaceutical companies. PHAST provides pharmaceutical services with a focus on quality control (QC) testing of small and large molecules, and analytical development services. PHAST’s services portfolio comprises attractive high-end capabilities (i.e. Nuclear Magnetic Resonance (NMR), mass spectrometry, inhalation testing). Headquartered in Homburg, Germany, and with additional sites in Constance, Germany, as well as in Switzerland, PHAST operates two state-of-the-art laboratory facilities totaling 6,000 m2, with ample space for expansion. PHAST generated group revenues of around EUR 24m in 2017 with approximately 300 staff.
The acquisition of PHAST will complement Eurofins’ BioPharma Product Testing capabilities and expand Eurofins’ geographical footprint in these markets. The wide array of testing expertise acquired from PHAST will strengthen Eurofins’ BioPharma Product Testing portfolio. Eurofins is well-positioned to capitalize on the strong growth and the positive trends underlying the BioPharma industry, which also increasingly opts for outsourcing laboratory services.
Comment from Dr. Johannes Kraemer, Founder and Owner of PHAST: “PHAST as a service provider for the research-focused pharmaceutical industry has continuously grown to meet the challenges of the market. The current trend of outsourcing an increasing number of testing activities requires a consistent expansion of the spectrum of analytical services offered, as well as, additional laboratory capacity. By gaining access to the full range of services and capabilities of the Eurofins Group, PHAST will significantly increase its service offering to the benefit of its clients, and improve its market position in the highly competitive and quality-driven Pharmaceutical Product Testing industry.”
Comment from Dr. Gilles Martin, Eurofins CEO: “We are pleased to welcome PHAST, an expert in pharmaceutical product testing, to the Eurofins Group. PHAST’s competencies and footprint further strengthen Eurofins’ global scientific leadership in the growing biopharmaceutical product testing market. PHAST will reinforce the position of Eurofins in Germany and Switzerland. In return, PHAST will be able to offer additional services to their customers leveraging Eurofins’ global GMP network. We look forward to strengthening their portfolio and operating footprint by providing them access to the full range of services and capabilities of the Group. This transaction is another demonstration of Eurofins’ commitment to expand its global state-of-the-art network of BioPharma Product Testing laboratories”.
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 in agroscience CRO services. It is also one of the global independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, CDMO, advanced material sciences 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 35,000 staff in more than 400 laboratories across 44 countries, Eurofins offers a portfolio of over 150,000 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 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 guarantee can be made as to their validity.