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Eurofins acquires German pharma quality service company
Eurofins Scientific announces that it has signed an exclusive agreement to acquire PHAST Gesellschaft für Pharmazeutische Qualitätsstandards mbH (“PHAST”), one of Europe’s leading service providers in the field of pharmaceutical products quality. The transaction is expected to close in the next few weeks, subject to the fulfilment of regulatory and customary closing conditions.
With more than 10 years of Good Manufacturing Practice (GMP) and Food and Drug Administration (FDA) compliance, PHAST serves the whole range of the Biotech and Pharmaceutical industry with a strong footprint in Germany and Switzerland. PHAST is best known for its finished product testing business, where it serves as a strategic partner to medium and large (bio)pharmaceutical companies. PHAST provides pharmaceutical services with a focus on quality control (QC) testing of small and large molecules, and analytical development services. PHAST’s services portfolio comprises attractive high-end capabilities (i.e. Nuclear Magnetic Resonance (NMR), mass spectrometry, inhalation testing). Headquartered in Homburg, Germany, and with additional sites in Constance, Germany, as well as in Switzerland, PHAST operates two state-of-the-art laboratory facilities totaling 6,000 m2, with ample space for expansion. PHAST generated group revenues of around EUR 24m in 2017 with approximately 300 staff.
The acquisition of PHAST will complement Eurofins’ BioPharma Product Testing capabilities and expand Eurofins’ geographical footprint in these markets. The wide array of testing expertise acquired from PHAST will strengthen Eurofins’ BioPharma Product Testing portfolio. Eurofins is well-positioned to capitalize on the strong growth and the positive trends underlying the BioPharma industry, which also increasingly opts for outsourcing laboratory services.
Comment from Dr. Johannes Kraemer, Founder and Owner of PHAST: “PHAST as a service provider for the research-focused pharmaceutical industry has continuously grown to meet the challenges of the market. The current trend of outsourcing an increasing number of testing activities requires a consistent expansion of the spectrum of analytical services offered, as well as, additional laboratory capacity. By gaining access to the full range of services and capabilities of the Eurofins Group, PHAST will significantly increase its service offering to the benefit of its clients, and improve its market position in the highly competitive and quality-driven Pharmaceutical Product Testing industry.”
Comment from Dr. Gilles Martin, Eurofins CEO: “We are pleased to welcome PHAST, an expert in pharmaceutical product testing, to the Eurofins Group. PHAST’s competencies and footprint further strengthen Eurofins’ global scientific leadership in the growing biopharmaceutical product testing market. PHAST will reinforce the position of Eurofins in Germany and Switzerland. In return, PHAST will be able to offer additional services to their customers leveraging Eurofins’ global GMP network. We look forward to strengthening their portfolio and operating footprint by providing them access to the full range of services and capabilities of the Group. This transaction is another demonstration of Eurofins’ commitment to expand its global state-of-the-art network of BioPharma Product Testing laboratories”.
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