Intertek Group PLC
12 February 2008
Stock Exchange Release
12 February 2008, 7am London, UK
Intertek acquires Bioclin, an Irish pharmaceutical testing laboratory.
Intertek Group plc (Intertek), the leading international provider of quality and
safety services to a wide range of industries, announces the acquisition of
Bioclin Research Laboratories Ltd (Bioclin), a pharmaceutical testing laboratory
in Ireland.
Intertek purchased Bioclin from its shareholders Mary Burke, Brian McKenna and
Enterprise Ireland for an initial cash consideration of EUR 3.2 million (GBP 2.4
million). A further payment of up to EUR 1.0 million (GBP 0.7 million) is
payable in April 2009, dependent on Bioclin's 2008 financial performance.
Bioclin provides product quality testing and bio-analytical services to
pharmaceutical, medical device and biotechnology companies locally and
internationally. The laboratory holds Good Laboratory Practice ('GLP') and Good
Manufacturing Practice ('cGMP') certifications. Ireland is a key European centre
for pharmaceutical manufacturing, and increasingly R&D, with many of the world's
top-selling drugs being produced there.
Bioclin joins Intertek's existing specialist pharmaceutical labs in the UK, US,
India, and Australia, further extending Intertek's global support to
pharmaceutical R&D and manufacturing in key regions. Located in Athlone, central
Ireland, Bioclin has 20 employees and will form part of Intertek's Analytical
Services division1.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
'Bioclin is a great complement to Intertek's growing global pharmaceutical
analytical services business and increases our worldwide support network to
customers in the sector. We also further strengthen our position to capture the
growth opportunities that lie within the trend for increased outsourcing of R&D
support and analytical services in pharmaceutical development'.
-ends-
Contacts
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
aston.swift@intertek.com / sarah.ogilvie@intertek.com
Richard Mountain / Sophie Kernon, Financial Dynamics
Telephone: +44 (0) 20 7269 7121
richard.mountain@fd.com / sophie.kernon@fd.com
Notes to Editors
1. From 1 January 2008, Intertek's Analytical Services, previously part of the
Group's Oil Chemical & Agri division, became a standalone division. For further
details of this and the surrounding divisional re-organisation, refer to
Intertek's stock exchange announcement of 11 December 2007.
ABOUT INTERTEK
Intertek (LSE: ITRK) is the leading international provider of quality and safety
services to a wide range of global and local industries. Partnership with
Intertek brings increased value to customers' products and processes, ultimately
supporting their success in the global market place. Intertek has the
experience, expertise, resources and global reach to support its customers
through its extensive network of laboratories and offices, with over 20,000
people in more than 100 countries around the world.
This information is provided by RNS
The company news service from the London Stock Exchange
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