Bio-Rad Completes The Purchase Of Certain Diagnostics Businesses Of Biotest AG
Hercules, CA--(Marketwire) - Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B), a multinational manufacturer and distributor of life science research and clinical diagnostics products, announced today that it has completed the purchase of certain diagnostics businesses of Biotest AG, including its diagnostics products in the areas of blood transfusion testing, transplantation, and infectious diseases for 45 million euros. Bio-Rad signed a definitive agreement to acquire these diagnostics businesses of Biotest on October 23, 2009.
"We are pleased with the opportunity to expand our product offering in the area of immunohematology," said Norman Schwartz, Bio-Rad President and CEO. "Integrating Biotest diagnostics products into our current offering will further strengthen Bio-Rad's position in this area and enable us to provide our customers, including those in the U.S., with a broader range of products and services."
Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B) has remained at the center of scientific discovery for more than 50 years, manufacturing and distributing a broad range of products for the life science research and clinical diagnostic markets. The company is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. Founded in 1952, Bio-Rad is headquartered in Hercules, California, and serves more than 85,000 research and industry customers worldwide through its global network of operations. The company employs over 6,500 people globally and had revenues exceeding $1.7 billion in 2008. For more information, visit www.bio-rad.com.
Biotest is a provider of pharmaceutical and biotherapeutic drugs as well as reagents and systems for microbiology. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialised primarily in the areas of application of immunology and haematology. In its Plasma Protein segment, Biotest develops and markets immunoglobulins, coagulation factors and albumins based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. In the Biotherapeutic segment, Biotest researches into the clinical development of monoclonal antibodies, including in the indications of rheumatoid arthritis and cancer of plasma cells. The products of the Microbiological Monitoring segment are primarily used in hygiene monitoring. Biotest has more than 1,900 employees worldwide. The preference shares of Biotest AG are listed in the SDAX on the Frankfurt stock exchange.
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" in the Company's public reports filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc., disclaims any obligation to update these forward-looking statements.
SOURCE: Bio-Rad Laboratories