Skip to main content
Premium Trial:

Request an Annual Quote

Inverness 'Dismayed' at Biosite's 'Silence' on Its Acquisition Offer

NEW YORK (GenomeWeb News) — Biosite has not responded to Inverness Medical Innovations' unsolicited offer to buy the company for $90 a share, Inverness said today, although Biosite issued a statement last Thursday saying it had received the offer and was evaluating it.
Inverness’s offer came just a week after Biosite agreed to be acquired by Beckman Coulter for $85 a share, or around $1.55 billion.
Inverness CEO Ron Zwanziger said his company is “dismayed by Biosite’s silence” concerning the offer, which Inverness said is a “superior proposal.”
Biosite enjoyed a sudden surge of interest after making the Inverness offer public, as its share price jumped almost 10 percent to $92.15 amid anticipation of a bidding war.
Soon thereafter Beckman Coulter reaffirmed its initial offering, calling it a “clearly superior” proposal, and questioned Inverness’s ability to draw together enough money.
Zwanziger today said his company has “arranged the necessary financing commitments” and said the firm is “determined to move forward” with the deal.
“We therefore urge Biosite stockholders to contact their directors and demand that Biosite engage with us immediately," Zwanziger said.
Inverness currently owns 5 percent of Biosite’s shares.

The Scan

Not as High as Hoped

The Associated Press says initial results from a trial of CureVac's SARS-CoV-2 vaccine suggests low effectiveness in preventing COVID-19.

Finding Freshwater DNA

A new research project plans to use eDNA sampling to analyze freshwater rivers across the world, the Guardian reports.

Rise in Payments

Kaiser Health News investigates the rise of payments made by medical device companies to surgeons that could be in violation of anti-kickback laws.

Nature Papers Present Ginkgo Biloba Genome Assembly, Collection of Polygenic Indexes, More

In Nature this week: a nearly complete Ginkgo biloba genome assembly, polygenic indexes for dozens of phenotypes, and more.