Drug development firm buys French laboratoryMarch 31st, 2008 - 6:41 pm ICT by admin
Ahmedabad, March 31 (IANS) Synchron Research Services Private Limited, a research organisation based here that helps develop new medicines, Monday announced the acquisition of a laboratory in France. Synchron acquired the bio-analytical and bio-marker lab of PAREXEL located at Poitiers, south of Paris, for $6.7 million.
At the same time, PAREXEL increased its stake in Synchron from 19.5 percent to 31 percent, a company statement said here.
With the acquisition, the facility becomes part of Synchron’s international network of laboratories. It will be known in France as SYNEXEL Research International SAS.
“Synchron’s growth vision is to provide cutting edge technology. Our global operations are aimed at providing the clients complete package of services and to become their drug discovery and development partners,” said Shivprakash, founder and managing director of Synchron. Apart from Europe, Synchron has operations in Thailand.
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Tags: acquisition, ahmedabad, cutting edge technology, development partners, drug discovery and development, europe, french laboratory, global operations, managing director, marker, new medicines, parexel, paris, poitiers, private limited, research organisation, sas, stake, Thailand