Thermo Electron LLS India Pvt Ltd, the Indian arm of US based Thermo Fisher Scientific, is planning to launch its life science oriented fine chemical business of Fisher through newly acquired Qualigens Fine Chemicals (QFC) in a big way. Currently Fisher Scientific, acquired by the US based Thermo Electron Scientific Inc in 2006, has a little presence in India due to inadequate field force.
QFC will enable the company to market selected products from Fisher's more than 17,000 products in India, along with the nearly 1000 products, which are already in the Qualigens' product basket, according to company officials.
With the acquisition and increased market presence, the company is expecting a growth towards Rs 450 crore business in the end of 2008. The company has marked a turnover above Rs 200 crore till now and is expected to cross Rs 300 crore turnover in the current fiscal year.
The company has announced acquisition of Glaxo SmithKline (GSK) Pharma's QFC through its Indian arm, for a consideration of Rs 240 crore, in the last week to add 150 employees in its sales force all over the country. Thermo currently have nearly 200 field staffs, for marketing both Thermo and Fisher Scientific products.
"The additional work force will enable us to market the fine chemicals from Fisher in India in a big way. The growing biotech and infrastructure business in India has tremendous potential and the acquisition is a channel strategy to grab the opportunity with our wider product portfolio," said G Ramakrishnan, managing director, Thermo Electron LLS Indian Pvt Ltd.
He added that the company would prepare the product portfolio, to be launched in India through QFC, soon after the completion of acquisition by October 2007. Fisher Scientific has 18,000 antibodies, a complete portfolio of cell biology products supporting cell signalling, cell cycle and neuroscience protocols and from apoptosis kits and neuropeptides to kits for gene expression or regulatory pathway analysis. The company also offers with drug discovery services from target identification and validation to pilot manufacturing and clinical trials.
The Indian arm of the company has also commenced civil works of a first of its kind clinical service centre at Ahmedabad, Gujarat. The US based Thermo Fisher Scientific, with revenues of $9 billion, has strengthened its presence in the areas of chemical products, laboratory equipments, bioscience free agents and diagnostics after Thermo Scientific acquired the larger Fisher Scientific Inc in 2006.