Eurofins acquires of Pan Labs US
Eurofins Scientific announced 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.
Source: Eurofins Scientific