GBA Group’s Eureka acquires majority stake in Teena Biolabs
New Delhi: Eureka Analytical Services Pvt Ltd (Eureka), a subsidiary of the GBA Group, has acquired a majority stake in Teena Biolabs Pvt Ltd (Teena), a leading pharmaceutical analytics service provider in India.
The acquisition is another important step in the GBA Group’s global expansion strategy. Through the merger with Teena, Eureka will become a leading service provider for pharmaceutical analysis in India with a total of two US-FDA approved sites.
Teena Biolabs Pvt Ltd was founded in 1999 and is one of the leading providers of pharmaceutical laboratory services in India with a focus on method development and validation as well as routine batch testing. With its current ~200 employees across the main site in Hyderabad and the second laboratory in Panchkula, Teena has built up long-standing customer relationships and a very good reputation in the market over the last few years. The Teena laboratory at Hyderabad has a US-FDA inspected status and can therefore support pharmaceutical companies both for the local Indian market and for export to the USA or Europe.
“India is one of the most dynamic pharmaceutical markets in the world. Against this background, the merger with the Teena team is an important step towards positioning the GBA Group as a global life science service provider in this market.”, says Steffen Walter, CEO GBA Group, “The expanded portfolio resulting from the merger of Eureka and Teena and the cooperation with our laboratories in Europe provides the GBA Group with an excellent basis for supporting internationally oriented pharmaceutical companies in their development and approval activities.”
Dr. Gouri Satpathy and Sanjeev Khatri, founders and owners of Eureka: “In addition to services in the food sector, pharmaceutical analysis is the second strategically important mainstay in Eureka’s service portfolio. The merger with Teena therefore represents a further milestone in significantly expanding the range of services in this area, serving the Indian pharmaceutical market holistically and establishing Eureka and the GBA Group as the leading address in the field of laboratory analysis in India.”
The founders of Teena, Anjaiah Katike and Nirooparani Katike, explain: “With the GBA Group and Eureka, we have found a global partner with a strong Indian presence that is ideal for Teena’s next phase of growth. Our customers will benefit from the broader service offering and international network. This makes us the ideal provider for Indian and international pharmaceutical companies looking for high quality service across countries.”
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