May 6, 2015
Lucigen Corporation announced today that it has signed an exclusive distributorship agreement with Sigma-Aldrich Corporation’s (NASDAQ: SIAL) India subsidiary, Sigma-Aldrich Chemicals Private Ltd., to expand commercialization of life science reagents in India.
The synergy between the two companies will provide researchers in India an enhanced customer experience, strong technical support, and easy access to Lucigen’s broad portfolio of products and services.
Ralph Kauten, CEO & Chairman of the Board for Lucigen Corporation, noted, “Sigma-Aldrich’s market knowledge and logistics operations in India will enable Lucigen to reach scientists in all corners of India, providing them with leading technologies in Next Generation Sequencing, Cloning and Protein Expression systems.”
The distributorship will also address the need to increase availability of easy-to-use products in one of the fastest growing life science research markets. “Growth in the overall life science research tools market will be fueled by demand in the so-called BRIC nations — Brazil, Russia, India, and China — which are expected to grow 13 percent CAGR,” according to a report by DeciBio, a life sciences market research firm.
Through the diversified portfolios of large firms like Sigma-Aldrich, the report specifically notes, market opportunities have already led to high growth. The Indian market, in particular, is expected to grow anywhere from 10 to 15 percent in support of the $45.8 billion global projection for 2016.
This agreement is a direct result of a program between the Wisconsin Economic Development Corporation (WEDC) and the Council of Great Lakes Governors, which enabled Lucigen to participate in a trade delegation that visited India in April 2014.
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