Life Technologies Expands in India
Mr. Smedley told The Economic Times that Life Technologies’ Indian revenues are expected to reach $50 million by December 2012. The Indian newspaper also quoted industry sources that stated that Labindia’s yearly sales were more than $20 million.
Carlsbad, CA 11/2/10—Life Technologies has agreed to acquire certain assets of Indian distributor Labindia. Financial terms were not disclosed. “India has experienced strong double-digit growth in the biotechnology sector, making this one of the fastest-growing regions in Asia Pacific,” stated Mark Smedley, head of the Asia Pacific region for Life Technologies. “Our primary goal in acquiring Labindia is to meet that increased demand from our customers and, by developing a more direct connection with them, better serve their needs with superior products, service and customer support.” Nearly 100 Labindia employees will join Life Technologies, creating a 200-person organization. Labindia has distributed Life Technologies’ Applied Biosystems products since 1994. The transaction is expected to close in the fourth quarter.
