Logo

Invitrogen to Acquire BioReliance in $500 Million Deal

Dec 26, 2003

NEW YORK, Dec. 26 (GenomeWeb News) -- Carlsbad, Calif.-based Invitrogen announced Wednesday that it will acquire BioReliance, a contract service organization based in Rockville, Md., in a transaction valued at $500 million.

 

The transaction has been approved by the boards of directors of both companies and is expected to close, subject to regulatory and stockholder approvals, as well as other closing conditions, near the end of the first quarter of 2004, the company said in a statement.

 

After the close of the deal, which includes Invitrogen's assumption of $70 million in debt, BioReliance will become a part of Invitrogen's bioproduction business segment and, retaining its name, will focus both on its current line of services and on new developments that draw on both services and technology needed to improve drug development.

 

Invitrogen is pursuing an aggresssive strategy of acquisitions, with over $1 billion cash on hand for acquisitions and other investments, Greg Lucier, the company's chief executive officer,  told GenomeWeb earlier this month.

 

 

Breaking News
The Scan

Call to Look Again

More than a dozen researchers penned a letter in Science saying a previous investigation into the origin of SARS-CoV-2 did not give theories equal consideration.

Not Always Trusted

In a new poll, slightly more than half of US adults have a great deal or quite a lot of trust in the Centers for Disease Control and Prevention, the Hill reports.

Identified Decades Later

A genetic genealogy approach has identified "Christy Crystal Creek," the New York Times reports.

Science Papers Report on Splicing Enhancer, Point of Care Test for Sexual Transmitted Disease

In Science this week: a novel RNA structural element that acts as a splicing enhancer, and more.