Eurofins to acquire Experchem13 May 2015
Food and pharmaceutical products testing company Eurofins Scientific has signed an agreement to acquire Canadian nutraceuticals testing company Experchem Laboratories. Founded in 1981, Experchem employs about 95 staff at its laboratory in Toronto, and generates revenues in excess of CA$10m. Certified by both Health Canada and the Food and Drug Administration (FDA) in the US, […]
Founded in 1981, Experchem employs about 95 staff at its laboratory in Toronto, and generates revenues in excess of CA$10m. Certified by both Health Canada and the Food and Drug Administration (FDA) in the US, Experchem provides comprehensive testing solutions primarily to pharmaceutical and nutraceutical industries, with expertise in natural health products (NHPs), the Canadian equivalent of nutraceuticals, as well as in functional foods and beverages.
The company provides full testing and regulatory services to ensure that clients’ products are fully compliant with NHP regulations, and is said by Eurofins to be ideally positioned for growth, given that functional food and NHP are Canada’s fastest growing agriculture and agri-food sectors. Furthermore, whilst Canada currently has more stringent NHP regulations compared to the US, Eurofins notes that reports indicate that the FDA is increasingly likely to strengthen nutraceuticals regulations. Experchem’s expertise, together with Eurofins’ long-established neutracuticals testing competence centre in Petaluma, California, should therefore reinforce Eurofins’ capabilities to benefit from growth in US nutraceuticals testing from increased regulations, the company said, and achieve leadership in this attractive market.
In addition, Experchem also conducts full cGMP quality control (QC) testing services for over the counter (OTC) drugs, providing a platform for Eurofins to extend its current pharmaceutical products testing position into Canada.
“The acquisition of Experchem facilitates Eurofins’ expansion into Canada, as well as reinforces our capabilities in key niche markets such as nutraceuticals testing, and our leadership in biopharmaceutical products quality control,” said Dr. Gilles Martin, Eurofins CEO. “In return, we look forward to providing Experchem access to the full capabilities of the Eurofins Group and our client relationships to further strengthen their position in the domestic market.”