, the Swiss testing, inspection and certification company, has agreed to acquire France’s Institut d’Expertise Clinique, or IEC, to reinforce its worldwide leadership inis safe to use. So manufacturers must ensure the products undergo an expert scientific safety assessment prior to the products’ launch.
“IEC conducts multicentric safety and efficacy studies, in-vitro tests, sensory analyses and consumer tests on dermatological and ophthalmological cosmetic, personal care and hygiene products,” SGS said in a statement released Wednesday.
Géraldine Picaud, chief executive officer of SGS, said: “This acquisition aligns with our strategic goals and further reinforces our global leadership in cosmetics and hygiene testing. IEC brings to SGS innovative capabilities and strong scientific expertise, as well as complementary geographic footprint and service offering.”The European Union has a robust regulatory framework for many sectors, with rules established to guarantee security and quality.
“As companies look to ensure adherence to these regulations, this has increased demand for TIC services,” wrote Straits Research. It estimates the European TIC market size was valued at $88 billion in 2021 and projects that it will reach $129 billion by 2030.Taking the Pulse of Beauty M&A 2024: Makeup Is Off to Slow Start, but New Skin Care Players Are Emerging. We use vendors that may also process your information to help provide our services.
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