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Biacore to Move Back to Sweden, Obtain $14M Tax Credit in 05

NEW YORK, June 30 (GenomeWeb News) - As part of its plan to move its headquarters back to Uppsala, Sweden,from Neuchatel, Switzerland, protein-chip vendor Biacore will purchase "certain assets" from Switzerland-based Biacore International.

 

The move will result in a SEK 110 million ($14 million) tax credit, or 11 SEK per share, for the year, the companies said today in a statement.

 

The company did not elaborate on which assets would be involved in the transfer.

 

The company expects the write-off to occur over the next five years, and its impact will appear in Biacore's July 19 half-year report, the company said.

 

The move is part of the firm's larger "turnaround plan," which it announced in October.

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