Eurogentec Sells Majority Stake
Nikkei.com reported that Kaneka is acquiring more than half of the company for approximately ¥4 billion ($44 million = ¥91.45 = $1) and that the deal is expected to close in July. Eurogentec consists of three businesses: life science research products, diagnostic and therapeutic products and services, and biologics services. Last year, Eurogentec acquired AnaSpec (see IBO 10/31/09).
Liège, Belgium 6/15/10; Osaka, Japan 6/18/10—Japanese chemical company Kaneka has acquired a majority share of Eurogentec SA. Eurogentec manufactures and sells proteins, nucleic acids and peptides for use in pharmaceutical and diagnostic products and for research. The company had 2009 sales of €41.4 million ($57.5 million = €0.72 = $1) and currently has 400 employees. “This partnership will allow us to reinforce our production capacity in the Biopharmaceuticals contract manufacturing unit as well as our capacity to develop and launch highly technical products that respond to the needs of the Life Science community, including the fast growing Molecular Diagnostic market,” stated Eurogentec CEO Jean-Pierre Delwart. “Our immediate intention is to make a significant investment within Eurogentec in order to increase their capacity in the Biopharmaceuticals contract manufacturing unit,” commented Dr. Lieven Janssens of Kaneka. Kaneka stated that the acquisition will help expand its contract pharmaceutical manufacturing into biologics. Mr. Delwart will remain with Eurogentec, and the Delwart family will remain on the company’s Board.
