In a deal expected to generate more than $1.5 (€1.2) million annually for the Laboratory Group, it will provide Mutual with analytical chemistry and stability services in support of Mutual's product release of an extensive list of generic pharmaceutical products.
The agreement with Procter & Gamble to supply full release testing for a new product launch later this Spring, including analytical chemistry, microbiology and sensory analysis, is believed to generate in excess of $500,000 (€417,500) per annum.
Celsis's CEO Jay LeCoque told In-Pharmatechnologist.com the company's emphasis on customer service and fast turnaround times is proving appealing for pharmaceutical companies.
"From sending in the samples to receiving the report, the process takes ten days, as opposed to 15 to 20 days that is the industry standard.
"Compared to our competitors we do charge a premium, but both we and our customers believe the benefits of our service justify this.
"We estimate the market for testing services in the pharmaceutical manufacturing sector to be worth around $200 (€167) to $300 (€250) million a year and we believe we are one of the leading labs in this area."
The Laboratory Group provides outsourced analytical testing services to pharmaceutical and biopharma companies to ensure the stability and chemical composition of their products.
It offers comprehensive testing in the areas of analytical chemistry, microbiology, quality assurance and stability, storage and testing and has facilities in Edison, New Jersey and St Louis, Missouri.
Moreover, the Laboratory Group is a division of Celsis International and last year it produced revenues of $14.6 (€12.1) million, about half of the group's income.
Celsis's other division, the Product Group, specialises on the provision of diagnostic systems for the rapid detection of microbial contamination.