|Eurofins CEO Gilles Martin|
Luxembourg testing outfit Eurofins is deepening its work in biopharma, acquiring a specialist in drug testing headquartered in the Netherlands.
Eurofins paid an undisclosed sum for Sinensis Life Sciences, a company focused on vetting biopharma products at all stages of development, providing quality control services, biosafety screenings and R&D support. Sinensis employs about 150 people in Europe, Asia and the U.S., and is on track to post €13.5 million ($14.7 million) in 2015 revenue, according to Eurofins.
With the deal, Eurofins expands its own drug-testing arm, based in Lancaster, PA. Adding Sinensis' capabilities "further strengthens Eurofins' global leadership in the rapidly growing pharmaceutical products testing market," CEO Gilles Martin said in a statement.
Outside of biopharma testing, Eurofins makes its money in the food, environment, agroscience and diagnostics industries. Last year, the company made a splash in the latter business by trading $50 million for U.S. diagnostics firm Diatherix Laboratories.
- read the statement