“Pan Labs’ 100% commitment to reliability, convenience, quality, and technical expertise is a perfect match for Eurofins, and its capabilities will be backed by the full scope of laboratory services from Eurofins’ global network to create an incomparable range of support for our clients.”
Eurofins Scientific, Inc. (Paris:ERF), (www.eurofinsus.com) the world leader in analytical support to the global pharmaceutical market, announces the signing of an agreement to acquire the Pan Labs pharmacology unit that was formerly operated by Ricerca Biosciences LLC and MDS Pharma. Pan Labs is a leading provider in early stage discovery services with a portfolio that provides molecular pharmacology, functional pharmacology, cellular services, and informatics analytics. The acquisition of this division from Ricerca Biosciences strengthens Eurofins’ growing presence in the US and Taiwan, while adding a unique business possessing the most advanced expertise in high quality Discovery CRO services. Pan Labs has over 150 highly qualified employees and USD 20m in annual revenues with most of the largest global pharmaceutical companies.
For over 40 years, Pan Labs has built a reputation for maintaining high quality service and customer dependability while delivering the most up-to-date pharmacology assays to match emerging testing needs. The depth and breadth of this market share leader’s growing test portfolio is unparalleled and consists of over 1,250 assays and models that allows clients to go from preliminary assays to final proof-of-concept. In addition to world renowned discovery pharmacology expertise, with operations in Bothell, Washington and Taipei, Taiwan, the company provides industry-leading convenience via online ordering and on-demand testing with rapid turnaround time. Pan Labs’ key strength lies in its expertise on regulatory requirements for investigational drug applications and its ability to assist clients with streamlined solutions that are compliant to the most up-to-date regulations and industry requirements.
Eurofins is committed to providing the best laboratory services and client support to its customers and is dedicated to consistently providing the highest level of analytical testing technology available in the industry. “The addition of Pan Labs adds a significant spectrum of new services that Eurofins can now offer to our clients. To benefit from the rapidly growing trend in the discovery pharmacology field for outsourcing to CROs, Eurofins is expanding its portfolio and footprint in this industry worldwide,” says Gilles Martin, Eurofins’ CEO. “Pan Labs’ 100% commitment to reliability, convenience, quality, and technical expertise is a perfect match for Eurofins, and its capabilities will be backed by the full scope of laboratory services from Eurofins’ global network to create an incomparable range of support for our clients.”
Upon closing of the acquisition, which is subject to standard conditions that the parties expect to complete within 30 days, the entity will be renamed Eurofins Pan Laboratories, Inc. and be led by James Baumgartner, Ph.D. who has over 9 years with the Pan Labs organization. Dr. Baumgartner will assume the role as President of Eurofins Pan Laboratories.
For more information, please visit www.eurofinsus.com or contact:
Eurofins Scientific, Inc.
US Corporate Headquarters
2200 Rittenhouse Street, Suite 175
Des Moines, IA 50321
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific is the world leader in food and pharmaceutical products testing. It is also number one in the world in the field of environmental laboratory services and one of the global market leaders in agroscience, genomics and central laboratory services.
With over 12,000 staff in more than 170 laboratories across 32 countries, Eurofins offers a portfolio of over 100,000 reliable analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products. The Group provides 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 NYSE 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 data available to the Company as of the date of publication, but no guarantee can be made as to their validity.