Millipore Corporation has acquired the remaining 60 per cent of its stake in Millipore India Pvt Ltd. The new subsidiary will enable Millipore to invest in initiatives that will drive growth and expand its leadership in India's life science market. The purchase price of the transaction was not disclosed.

"India has experienced unprecedented levels of investment and expansion in the country's biotechnology, pharmaceutical and life science research industries," said Dr Martin Madaus, Millipore's chairman, president and CEO.

"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. We are very pleased to welcome our colleagues in India to the larger Millipore organization," he added.

The Bangalore-based Millipore India was first established as a joint venture in 1988. The company has its manufacturing, sales and marketing operations apart from an Access Services Lab providing technical and field support to pharmaceutical and biotechnology customers here. Millipore India currently employs approximately 300 people and has additional offices in Ahmedabad, Hyderabad, Kolkata, Mumbai, and Delhi.

"The parent company's strategic initiative is expected to further enhance our role as a major partner to pharmaceutical and biotechnology drug manufacturers, researchers, scientists and academia in India," said Sudhir Kant, president of Millipore India.

The industry experience and technical expertise of the entire Millipore organization will drive the growth of our customers through more collaborative efforts and successful partnerships-particularly in areas such as drug discovery and development, the production of difficult-to-make biologics and vaccines, and in the cutting-edge fields of life science research, said Kant.

India represents a critical part of Millipore's strategy to increase its growth by expanding its presence in key emerging markets, including Brazil, Russia, India, China and Singapore (BRICS countries). Today, more than 80 plants in India are approved by the US FDA to manufacture drugs for export to the US, and the country accounts for almost 25 per cent of the global generic drug market. Additionally, the Indian government has invested US$ 1.7 billion to grow the country's life science and biotechnology industries, and several Indian companies have emerged as global competitors in the biopharmaceutical industry.