Honeywell and Loba Chemie Sign Distribution Agreement for Laboratory Chemicals in India
26 June 2008
Honeywell (NYSE:HON) announced today a multi-year distribution agreement with Loba Chemie, a global supplier of chemicals, laboratory supplies and equipment, under which Loba Chemie will distribute Honeywell’s high-purity solvents to India’s growing pharmaceutical sector.
Marketed and sold under the Burdick & Jackson® brand name, Honeywell’s high-purity solvents are critical to the successful research, development and approval cycle of pharmaceuticals. Terms of the agreement were not disclosed.
"India is an important market for us as the pharmaceutical industry continues to experience tremendous growth," said Robert Tupker, commercial director for Honeywell’s Specialty Chemicals business in Europe, Middle East, Africa and India. "This agreement will further help position us as a leader in providing a wide range of high-purity solvents for pharmaceutical companies worldwide."
Vic Shah, director international sales for Loba Chemie, said both companies aim to reach a new standard of success in the high-quality chemicals market in India. "We believe there are a lot of untapped opportunities to be explored, especially in the booming pharmaceutical industry," said Shah.
The annual growth rate of India’s pharmaceutical market is estimated to be 8% to 9%, according to various industry reports.
Major applications for Honeywell’s solvents include analytical instrumental analysis, such as high-performance liquid chromatography (HPLC), as well as pilot and full scale production of pharmaceuticals. Honeywell also offers reagents for DNA and RNA synthesis.
