Not many business deals happen during the holiday season, but analytical company Eurofins Scientific has broken the sound of silence as it announced on Friday broadening its testing facilities in Spain.
The international researcher originated in France is about to buy a Spanish pharmaceutical company Villapharma Research SL. The deal is expected to finalize in February 2017, but no financial details were yet revealed.
Villapharma is a company that researches new drug candidates for pharmaceutical and biotech companies since 2003. Its lab is stationed in Murcia, with 86 employed people.
“The company expects to generate more than €6M of revenues in 2016 with EBITDA margins compatible with Group objective,” Eurofins said on Thursday when it announced the purchase on Euronext. Eurofins itself had over €2 billion revenues in 2015.
Dr. Gilles Martin, Eurofins CEO, said: “The addition of Villapharma adds another spectrum of new services that Eurofins can now offer to our clients. To benefit from the trend in the discovery pharmacology field for outsourcing to CROs, Eurofins is expanding its portfolio and footprint in this industry. This transaction is another demonstration of Eurofins’ commitment to provide the most comprehensive portfolio of laboratory services in the industry.”
Dr. José Manuel Villalgordo, Villapharma Research CEO said: “With the integration of Villapharma into the large Eurofins group, the company expands its portfolio of services from hit finding to pre-clinical drug candidates.”