BSE-listed TAKE Solutions Ltd, technology solution provider for supply chain and life sciences segments, has announced that it has entered into an agreement to acquire Bangalore-headquartered Ecron Acunova (EA), a leading clinical research organisation, in a transaction that is valued at Rs.115 crore.
The deal is expected to strengthen TAKE’S position as a fully integrated differentiated Life Sciences services provider to large and small global pharmaceutical companies and thereby broaden the addressable market.
Ecron, which delivers pharmaceutical research services to global clients across South East Asia, Central & Nordic Europe and North America, will to add expertise in the largely untapped Biosimilars space for TAKE as also other segments such as regenerative medicine and Diagnostic imaging agent’s space, which are reported to be the future growth areas, said a company statement.
Also, the acquisition will help expand the addressable market to $30 billion for TAKE as well as significantly enhance presence in Europe and Nordic countries.
“Globally, there is a growing focus on quality, data, analytics and outcomes in the industry, resulting in increased pharma/biotech R&D spending and funding. This acquisition will enhance our addressable market from $15.9 billion to over $30 billion by 2019, giving us great headroom for growth,” said H.R.Srinivasan, Vice Chairman & Managing Director of Take Solutions.
Ecron deal will also augment its pool of subject experts by 30 per cent and life sciences talent by 50 per cent. In addition, the Full Service capability along with expanded infrastructure will allow Take to service the mid-market as well.
Take will also now be able to expand its IPs in Risk Based Monitoring and other solutions aimed at bringing safe, effective, and affordable drugs and devices to market, it added.
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