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news.Eurofins Scientific has signed an agreement to acquire the Pan Labs pharmacology unit, formerly operated by Ricerca Biosciences and MDS Pharma.
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The acquisition of the division is expected to strengthen Eurofins’ presence in the US and Taiwan while adding a business possessing in Discovery CRO services.
Eurofins CEO Gilles Martin said the addition of Pan Labs adds new services that Eurofins can offer its 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," Martin added.
"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."
The acquisition, which is expected to be completed within 30 days, will also rename the entity as Eurofins Pan Laboratories and will be led by James Baumgartne.
Pan Labs has over 150 employees with an annual income of $20m and over 1,250 assays and models along with operating units in Bothell, Washington and Taiwan.