Millipore Acquires Remaining Ownership of Joint Venture in India

Millipore Corp. (Billerica, MA, USA) has acquired the remaining 60% ownership of its joint venture in India, Millipore India Pvt., Ltd. The transaction will accelerate strategic growth initiatives in India's thriving life science market.

Based in Bangalore, Millipore India is primarily a sales, service, and manufacturing organization that has additional offices in Ahmedabad, Hyderabad, Kolkata, Mumbai, and Delhi. The joint venture's revenues are split evenly between Millipore's Bioprocess and Bioscience divisions.

The new subsidiary will enable Millipore to invest in initiatives that will drive growth and expand its leadership in India's thriving life-science market. India represents a critical part of the company's strategy to increase its growth by expanding its presence in BRICS (Brazil, Russia, India, China, and Singapore) countries.

There are more than 80 plants in India approved by the United States Food and Drug Administration (FDA; Silver Spring, MD, USA) to manufacture drugs, and the country accounts for almost 25% of the global generic drug market. In addition, the Indian government has invested US$1.7 billion to expand the country's life science and biotechnology industries and several Indian companies have emerged as global competitors in the biopharmaceutical industry.

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

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