Bio-Rad To Acquire Pasteur Sanofi Diagnostics For $210 Million

Sanofi-Synthelabo S.A. and Institut Pasteur have accepted a bid by N/A (Hercules, CA) to acquire Pasteur Sanofi Diagnostics (PSD). According to the terms of the agreement, Bio-Rad will acquire 100% of the shares of PSD for $210 million. Sanofi-Synthelabo S.A. and Institut Pasteur currently own the shares. The transaction is expected to be finalized within 90 days.

Bio-Rad representatives forecast that the company's diagnostics sales will increase to approximately $400 million as a result of the acquisition, making Bio-Rad one of the top 10 companies in the worldwide diagnostics industry. With the new acquisition, Bio-Rad will be able to provide products and services to clinical laboratories including tests for blood viruses, bacteriology, infectious diseases, diabetes monitoring, genetic disease screening, and quality-control management.

The acquisition also includes a collaboration agreement with the Institut Pasteur, giving Bio-Rad a priority to commercialize Pasteur's discoveries in the In Vitro diagnostics market.

Bio-Rad Laboratories is a multinational manufacturer and distributor of life-science research products, clinical diagnostics, and analytical instrumentation. The company serves more than 70,000 research and industry customers worldwide through a network of 25 wholly-owned subsidiary offices.

For more information, call Tom Chesterman, VP of Bio-Rad Laboratories, at 510-741-6006 or e-mail tom_chesterman@bio-rad.com.