Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of modeling and simulation software and consulting services for the pharmaceutical, biotechnology, and chemicals industries, today announced that it has signed a distributor agreement in India with Electrolab India Pvt. Ltd.
John DiBella, vice president for marketing and sales of Simulations Plus, said: “The Indian pharmaceutical market has enjoyed robust growth this past decade, especially in the areas of generic product development and drug delivery, and this is expected to continue going forward. To capitalize on this opportunity, we are excited to be partnering with Electrolab, an established company with strong relationships throughout India, whose sound reputation for providing high-quality products and customer support has allowed them to capture more than 70% of the market share in the pharmaceutical equipment space. We expect Electrolab’s expertise in dissolution and absorption testing to complement our offerings well. The extensive sales and technical support network should allow us to further penetrate the Indian market, helping us achieve our strategic goals.”
Aditya Marfatia, Director at Electrolab, added: “The use of drug discovery and simulation software has increased in North America and Europe over the past decade, and we strongly believe increased adoption within the Indian pharmaceutical industry will help bring new drugs and generic products to market in a faster and more cost-effective way. We are excited to be partnering with Simulations Plus, whose industry-leading software programs have been successfully referenced in numerous regulatory submissions. We look forward to increasing awareness of this technology with Simulations Plus and supporting users throughout India.”