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Millipore has announced that it has acquired the remaining 60% ownership of its joint venture in India, Millipore India Pvt Ltd.
Millipore has announced that it has acquired the remaining 60% ownership of its joint venture in India, Millipore India Pvt Ltd. According to the company, the new subsidiary will enable it to invest in initiatives that will drive growth and expand its leadership in India’s thriving life science market.
“India has experienced unprecedented levels of investment and expansion in the country’s biotechnology, pharmaceutical and life science research industries,” said Martin Madaus, chairman and CEO of the company in a statement. “By establishing direct operations in the country, we will be able to more effectively execute our strategy and leverage our unique capabilities to accelerate growth and support our growing customer base in this dynamic market.”
The company claims that the country accounts for almost 25% of the global generic drug market. Additionally, the Indian government has invested $1.7 billion to grow the country’s life science and biotechnology industries and this has seen several Indian companies emerge as global competitors in the biopharmaceutical industry.
Based in Bangalore, Millipore India is primarily a sales, service and manufacturing organization that has additional offices in Ahmedabad, Hyderabad, Kolkata, Mumbai and Delhi.
For more information on Millipore visit www.millipore.com