Therapeutic areas in focus
MERGERS & ACQUISITIONS
Merger planned between Bio-Rad and Qiagen
California-based diagnostics company Bio-Rad Laboratories is in talks to merge with Dutch company Qiagen NV, the Wall Street Journal reported.
US-listed shares of Qiagen rose 8%, while Bio-Rad fell nearly 10%, after the report.
According to the report, a deal between the two companies could be worth more than $10bn, making it one of the biggest deals in the healthcare testing area after Illumina Inc took over cancer-testing firm
Grail for $8bn.
Bio-Rad, which manufactures and supplies products such as laboratory equipment, instruments and diagnostics, has a market cap of $12.85bn.
Qiagen provides over 500,000 customers with tech that provides molecular diagnostics of DNA, RNA, blood proteins and other materials.
However, a decision is not expected for weeks, with talks being put on hold.
Back in 2020, Thermo Fisher offered
€11.3bn to buy Qiagen, but plans fell through due to Qiagen shareholders rejecting the offer following a hedge fund’s campaign.
Thermo Fisher then went on to acquire PPD for $17.4bn.
Other notable pharma acquisitions this year include Stryker’s $3bn purchase of Vocera Communications, ResMed’s $1bn (approx) buyout of MediFox Dan, and Becton Dickinson’s $1.53bn purchase of Parata Systems.