Testing services provider ALS (ASX:ALQ)
has acquired a 49 per cent interest in NUVISAN, a Germany-based pharmaceutical testing firm.
The acquisition aims to expand ALS's life sciences service offering and footprint in Europe.
NUVISAN generated revenue of EUR 185 million in FY21 and has over 1,000 employes. The company operates in research, development and manufacturing markets, providing drug testing services throughout the pharmaceutical development cycle.
The acquisition also aims to expand ALS's testing into up stream research and development, which constitutes the majority of client spend.
Shares in ALS (ASX:ALQ)
are trading 0.2 per cent higher at $12.57.