Pharmacy Product Info

Monday, October 26, 2009

Bio-Rad to acquire certain diagnostics businesses of Biotest

Bio-Rad Laboratories, a international manufacturer and distributor of life science investigate and clinical diagnostics products, has signed an contract to acquire certain diagnostic businesses of Biotest, a manufacturer of pharmaceutical, biotherapeutic and diagnostic products, for E45 million.

The provisos of the agreement were not disclosed at this time. The transaction is subject to definite closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2010.

Integrating Biotest's diagnostic business into Bio-Rad's product portfolio will broaden the company's offering in the area of immunohematology and provide Bio-Rad access to the US markets with a full range of products.

Norman Schwartz, president and CEO of Bio-Rad, said: "Biotest has an impressive reputation for offering quality products and customer service, and we believe their array of products in the area of immunohematology will fit in well with Bio-Rad's existing diagnostics business."