Life Technologies invests $3 million in distribution hub in Bangalore

BANGALORE: Biotechnology firm Life Technologies has invested around $3 million to open a distribution hub in Bangalore, which they expect would propel their business in India by 40% this year.

"South Asia is one of the fastest growing regions in the world. Opening the India Distribution Center here is a clear demonstration of Life Technologies' commitment to the scientific community, who increasingly conduct high-level research and development in South Asia," said Mark Smedley, president of Asia Pacific & Japan for Life Technologies.

The center will distribute products across the country cutting the time taken for delivery from 45 days to two days, Devashish Ohri, managing director, Life Technologies South Asia. This will also increase the cost efficiency for the company.

The US-based firm operates as Invitrogen Bioservices India and acquired Labindia in 2010 as a distributor. It clocked in sales of $3.6 billion in 2010 globally.