Merck KGaA acquires Banagalore bioscience firm
13 Oct 2009
Merck Specialities, a subsidiary of global pharmaceutical and chemical company Merck KGaA, has acquired Sanmar group's Bangalore division for an undisclosed sum.
The bioscience firm Bangalore Genei India Pvt Ltd is a manufacturer of molecular biological reagents for analytical and genetic engineering research applications.
It has over 100 employees working on products for proteomic and genomic research out of its Bangalore centre. The company posted revenue of Rs20.2 crore in 2008-09.
By combining Bangalore Genei's activities with its existing bioscience business, Merck is expected to become one of the leading bioscience companies in India, a statement released by the company said today.
"We will leverage Bangalore Genei's product portfolio comprising a wide range of bioscience products, which are tailored to the needs of the domestic market in India," said Christina Shasserre, global had of Merck's bioscience business.
Frankfurt-based Merck is a leading pharmaceutical and chemical company with total revenues of $11.20 billion in 2008.
V Ramesh, managing director, Sanmar Speciality Chemicals, said: "This move will help Sanmar Speciality focus on its core business of fine chemicals, intermediates for agrochemicals and pharmaceutical industries, contract research and phyto chemical based active pharma ingredients".
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