Evotec Accelerates Growth Strategy of its Discovery Alliance Business with Acquisition of Indian RSIPL

Evotec acquires 70% controlling majority stake of Research Support International Private Limited for EUR 2.8 million in cash

10-Aug-2009

Evotec AG and DIL Limited, India, announced the signing of a definitive agreement to acquire a 70% controlling majority stake of the drug discovery service company RSIPL for EUR 2.8 million in cash, a portion of which includes a potential earn-out.

According to the company, this transaction represents an important capacity expansion for Evotec. It adds a complementary drug discovery operation and capability in the field of science-driven chemistry work in a cost-effective location to Evotec’s already world-leading discovery platform and efficiently increases its ability to deliver high quality, know-how driven drug discovery and development services to its partners on a global scale.

“It is important to strengthen the strategic position of Evotec’s Discovery Alliance Business with the best technology offering and the most efficient global reach and cost strategy. This is a very important step in our strategy “Evotec 2012 – Action Plan to Focus and Grow”, said Werner Lanthaler, CEO of Evotec.

Other news from the department business & finance

Most read news

More news from our other portals

Fighting cancer: latest developments and advances