NEW YORK (GenomeWeb News) – Banc of America Securities has downgraded Sigma-Aldrich from “buy” to “neutral.”
On Monday, Sigma said that it had acquired Advanced Separations, a developer of products used in chiral chromatography, for an undisclosed amount.
Advanced Separations, based in Whippany, NJ, has annual revenue of $2 million. Sigma said the acquisition will not have a material impact on sales this year, but will be neutral to earnings in 2006 and should help it meet its growth goals over the next several years.
As of mid-day Wednesday, Sigma’s shares were down 2.9 percent at $74.94.