Merck makes Indian bioscience acquisition
Published on 14/10/09 at 10:01am
Merck KGaA has bought an Indian company specialising in research products in a deal it says will make it one of the leading bioscience companies in the country.
Bangalore Genei (India) Private (BGIP) focuses on the development, production, marketing and sales of products for proteomic and genomic research.
Global head of Merck's bioscience business Christina Shasserre said: "BGIP`s leadership in the Indian academic market, a segment with high growth potential, will ideally complement our existing customer base.
"BGIP`s product portfolio comprises a wide range of bioscience products, which are tailored to the needs of the domestic market in India."
Located in Bangalore, BGIP has more than 100 employees and last year generated total revenues of 202 million rupees (3 million euros).
The company was acquired for an unspecified sum from the Sanmar Group and will be combined with Merck's existing bioscience business.
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