Bilcare acquires Clinical Trial Services Company DHP in UK

Bilcare Ltd has announced that the Company has acquired DHP Ltd, a UK-based Clinical Trials Services provider for a total consideration of US $ 5 million (Rs 23 crores). DHP had service revenue of US$ 3 million (Rs 14 crores) for the year ended March 31, 2006.

The entire paid-up Equity Capital of DHP has been acquired through Bilcare (UK) Ltd, a wholly owned subsidiary of Bilcare Singapore Pte. Ltd. (which is in turn a wholly owned subsidiary of the Company).

Commenting on this important acquisition in UK, Mr. Mohan Bhandari, the Chairman and Managing Director of the Company said, "Bilcare has been successful in living upto its commitment of providing a truly world-wide operations network to the global pharmaceutical sector and partner with them in enhancing their speed to market by best in class local management of their global clinical trials."

The Company's focused ambition to be the leader in Clinical Trial Services was initiated with the establishment of a state-of-the-art CTS facility in India in early 2005. It almost simultaneously expanded its global reach through the acquisition of an established clinical trials business in the USA in the Quarter III of 2005. The USA acquisition was welcomed by the pharma industry leading to the Company's getting recognition as their value partner. The Company delighted the expectations of the pharma industry by announcing its serious intent of establishing similar capabilities in Singapore and the European Union to make Bilcare one of the few players with global servicing capability.

While the Company initiated its Singapore CTS operations by integrating it into its materials and research facilities in Singapore which also has been conferred with the prestigious "Pioneer Status" by the Government of Singapore, the recent UK acquisition has become the most strategic component of the Company's conclusive step towards converting the Company's Clinical Trial Services into a truly global activity.

DHP Ltd has its operations in Powys, UK and is an independent Company with over 15 years of dedicated comprehensive service to the global pharmaceutical sector in the area of Clinical Trials Services. DHP Ltd has core expertise in the manufacture, packaging (inclusive of design, randomization and label printing), storage, global distribution Countback and destruction services of investigational medicinal products and clinical trials supplies. The clientele of DHP Ltd included multinational pharmaceutical companies, leading Contract Research Organizations, publicly (MRC) funded clinical research teams, NHS trusts as well as individual professionals in the private, public and academic sectors. Its operations are approved by MHRA and conform to the EU clinical trials directives for addressing the complete needs of phase I to IV clinical trials.

Source : Equity Bulls

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