Thermo Fisher Scientific is acquiring Qualigens Fine Chemicals, a division of GlaxoSmithKline Pharmaceuticals based in Mumbai. Qualigens is a laboratory chemical manufacturer and supplier. The company also sells diagnostic kits, with approximately $24 million in sales during 2006, according to Thermo Fisher.
"The well-established and extensive channel network of Qualigens will make Thermo Fisher the leading supplier to India's research market, allowing us to accelerate our growth in a country where science and industry are moving forward at an exciting pace," remarks Marijn E. Dekkers, president and CEO of Thermo Fisher Scientific.
"In addition to greatly augmenting our premier Fisher Scientific customer channel, Qualigens is an ideal complement to our bioscience reagents and research chemicals business, enabling us to offer a wider range of products to a broader customer base. We also expect to benefit from greater access to local products, raw materials, and manufacturing capabilities as we expand in India and throughout Asia."
Thermo Fisher expects the acquisition to close in the fourth quarter of 2007.