Intertek in US analytical lab buyout
"This acquisition expands considerably our range of services in the US," John Conti-Ramsden, global director for Intertek, told Outsourcing-Pharma.com.
With this new purchase, UK-based Intertek gains access to QTI's expertise in drug quality testing and analytical R&D services, said Intertek, who provides a wide range of routine and non-routine laboratory testing services.
Intertek already offers testing services to clients from its laboratories in Europe and its Good Laboratory Practice (GLP) bio-analytical services it gained from the purchase of Alta laboratories in California, but the QTI transaction adds a good manufacturing practice (GMP) facility to Intertek's capability, said Conti-Ramsden.
The firm bought Alta last December in a deal worth $25m (€18m), bringing it new bioanalytical testing abilities.
While Conti-Ramsden could not reveal the value of the QTI acquisition, he said it was of a similar size as the Alta one.
QTI is located in Whitehouse, New Jersey with approximately 60 staff and counts major global pharmaceutical companies among its clients.
Commenting on the announcement, Paul Winslow, managing director of QTI said: "Joining Intertek provides QTI a global network to access and serve the worldwide pharmaceutical industry. Additionally, Intertek's commitment to growth will allow QTI to expand our capabilities to provide a more comprehensive service offering to our key industry markets."
Intertek is planning to continue its expansion strategy in either through organic growth or other means, said Conti-Ramsden.
"The pharmaceutical is a growing market, and the growth in outsourced services for this market is also very strong so we may consider other acquisitions in the future," he said.
