Baltic Countries

Thermo Fisher grabs Lithuanias's biotech star

04.06.2010

Vilnius - Thermo Fisher Scientific has bought buys Fermentas International, one of Lithiania's biggest biotechnology outfits for EUR212 million. Fermentas, with headquarters in Burlington, Canada, and principal operations in Vilnius, Lithuania, is a producer of enzymes, reagents and other materials for molecular and cellular biology research. The company, with 500 employees, had full-year revenues of approximately EUR45 million in 2009.
With the acquisition of Fermentas and the recently bought Finnzyme, Thermo Fisher aims to acheive a stronger standing in the high-growth PCR market. Fermentas offers a variety of products for polymerase chain reaction (PCR), reverse transcription PCR (RT-PCR) and quantitative real-time PCR (qRT-PCR).
Fermentas will be integrated into Thermo Fisher Scientific's Analytical Technologies Segment. The transaction, which is subject to applicable regulatory approvals, is expected to close during the third quarter of 2010. The company does not expect this transaction to have a material impact on its 2010 financial results.

Baltic Countries

13.05.2010

Riga – Latvian producer of active pharmaceuticals ingredients Grindeks has baggedEUR4.1m in funding from the European Regional Development Fund to build a new 1,400 m2 plant for the production of ursodeoxycholic acid (UDCA). The...

Baltic Countries

12.05.2010

Kaunas/Martin – Lithuania’s largest pharmaceutical manufacturer Sanitas AB transferred its ownership in Slovakia’s HBM Pharma sro to the Lat­vian company SIA Liplats 2000 at the end of April. The companies have agreed to transfer...

Baltic Countries

18.08.2008

Riga – Starting in June, Lithuanian researchers involved in FP7 funding projects have the possibility to receive national co-funding if the EU funding programme does not cover 100% of the project cost. Additionally, a new grant...

Baltic Countries

20.05.2008

Riga – Pharmaceutical manufacturer Grindeks is continuing to expand. After opening a representative office in Uzbekistan, the company has now signed an agreement with Wake Forest University’s School of Medicine (US) to supply...

Baltic Countries

19.03.2008

Riga – The Latvian Government will be funding a EUR6 million vaccination programme over the next three years. The programme will cover vaccinations against tuberculosis, hepatitis B, tetanus, tick encephalitis, influenza, polio,...

Baltic Countries

19.02.2008

Vilnius/Brussels – For the first time, the European Commission has taken a member state of the European Union to the European Court of Justice because it refuses to take a biosimilar from the market. Lithuania has refused to...

Baltic Countries

22.11.2007

Riga – Latvia’s largest pharmaceutical manufacturer, JSC Grindeks, has signed a letter of intent (LOI) with two pharmaceutical companies in Belarus during the third meeting of the “Latvian-Byelorussian Inter-Governmental...

Baltic Countries

24.09.2007

Riga – JSC Grindeks has improved its half-year result in 2007. In the first six months of this year, the company‘s revenues grew by 25% to €37.1 million. Half of Grindeks made most sales in Russia (€18.8 million, +8%), and other...

Baltic Countries

11.07.2007

Kaunas – Sanitas AB group net profits have risen by almost seven times (598%) to a6.2 million in the first quarter of 2007 compared to last year, the Lithuanian pharmaceutical manufacturer reported at the end of May. Turnover...

Baltic Countries

11.07.2007

Riga – In mid June, LSC Grindeks unveiled a new a4.5 million cGMP and GLP compliant laboratory for scale-up procedures and industrial analytics – the only lab of this kind in the Baltic States, says the company. “The development...

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