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Evotec acquires majority stake in Indian company
September 2009
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HAMBURG, GermanyŚEvotec AG announced in August that it signed an agreement to acquire a 70 percent controlling majority stake of Research Support International Private Ltd. (RSIPL), a drug discovery services company specializing in organic synthesis services in Thane, India, for nearly $4 million in cash. Evotec has an option to buy the remaining 30 percent from RSIPL's parent company, Indian research support company DIL Ltd., in the future. Evotec says the acquisition gives the company added capabilities in the field of science-driven chemistry work in a cost-effective location. RSIPL will be integrated as Evotec India as part of Evotec's operations in Hamburg and Abingdon, England. The deal is expected to close in early September.
 

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