The Hindu Business Line : PerkinElmer buys 100% in Indian arm

Growth plans
Expects to be able to react faster to changing local requirements.
Looking to set-up a technical support and application centre.
Research leaning of pharma industry fuelling growth optimism.

Mumbai June 21 Technology-provider for the life-sciences, analytical services and genetic screening segments, the United States-based PerkinElmer Inc, has acquired the remaining 49 per cent minority interest in PerkinElmer India Pvt Ltd from Labindia Instruments Pvt Ltd.

The transaction establishes PerkinElmer India Ltd as a wholly-owned subsidiary of PerkinElmer. However, no financial details were divulged by company officials. PerkinElmer had entered into the joint venture with Labindia in 2004.

Explaining the recent development, Mr Jai Shankar, the newly-appointed President of PerkinElmer India, said that the company sees growth in the Indian market and expects to be able to react faster to the changing local requirements.

The company is also looking to set-up a technical support and application centre, where companies can get a demonstration of the new technology that they may want to pick up, he said. The centre is expected to be in place by the third quarter of this year.

Research options

The increasing research-orientation of the pharmaceutical industry, besides expanding operations of contract research organisations, fuel PerkinElmer's optimism for the Indian growth market, he indicated.

With trace-detection being critical for several segments of industry, he pointed out that the technology offered by them found customers in food, bio-fuels, forensics and environment. The size of the domestic market targeted by the technology products from the company is about $350 million, he said.

PerkinElmer India at present employs approximately 170 people in Bangalore, Baroda, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, Pune and Thane, a note from the company said.