Intertek Group Regulatory News (ITRK)

12 Feb 2008 07:00

Intertek Group PLC12 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 andsafety services to a wide range of industries, announces the acquisition ofBioclin Research Laboratories Ltd (Bioclin), a pharmaceutical testing laboratoryin Ireland. Intertek purchased Bioclin from its shareholders Mary Burke, Brian McKenna andEnterprise Ireland for an initial cash consideration of EUR 3.2 million (GBP 2.4million). A further payment of up to EUR 1.0 million (GBP 0.7 million) ispayable in April 2009, dependent on Bioclin's 2008 financial performance. Bioclin provides product quality testing and bio-analytical services topharmaceutical, medical device and biotechnology companies locally andinternationally. The laboratory holds Good Laboratory Practice ("GLP") and GoodManufacturing Practice ("cGMP") certifications. Ireland is a key European centrefor pharmaceutical manufacturing, and increasingly R&D, with many of the world'stop-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 topharmaceutical R&D and manufacturing in key regions. Located in Athlone, centralIreland, Bioclin has 20 employees and will form part of Intertek's AnalyticalServices division1. Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "Bioclin is a great complement to Intertek's growing global pharmaceuticalanalytical services business and increases our worldwide support network tocustomers in the sector. We also further strengthen our position to capture thegrowth opportunities that lie within the trend for increased outsourcing of R&Dsupport and analytical services in pharmaceutical development". -ends- Contacts Aston Swift / Sarah Ogilvie IntertekTelephone: +44 (0) 20 7396 3400aston.swift@intertek.com / sarah.ogilvie@intertek.com Richard Mountain / Sophie Kernon, Financial DynamicsTelephone: +44 (0) 20 7269 7121richard.mountain@fd.com / sophie.kernon@fd.com Notes to Editors 1. From 1 January 2008, Intertek's Analytical Services, previously part of theGroup's Oil Chemical & Agri division, became a standalone division. For furtherdetails of this and the surrounding divisional re-organisation, refer toIntertek's stock exchange announcement of 11 December 2007. ABOUT INTERTEKIntertek (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