NEW YORK, July 5 (GenomeWeb News) -- Becton Dickinson has signed an agreement to sell its Clontech unit to Japanese firm Takara Bio for $60 million, BD said late last week.
The Clontech business had been on the block since October, but BD was having difficulty finding a buyer. BD finally announced on Friday that Takara would acquire the unit.
BD purchased the Clontech business in 1999 for $201 million. Several years of diminishing revenue returns and a realization that Clontech did not fit BD's business model made the sale a necessity for the medical device and diagnostics firm.
Takara sells restriction enzymes and PCR enzymes as part of its offering of molecular biology tools, though the firm also is developing cell- and gene-based therapies and biotech products for agricultural applications.
In a statement released late last week, Takara said that Clontech's products "in gene function and protein interaction analysis with its newly engineered fluorescent proteins, as well as protein expression vectors" would complement Takara's existing tools. Among Clontech's products are the BD Atlas fluorescent labeling kits for expression profiling, NucleoSpin Extract kits for PCR purification, RNAi systems for regulating protein knowckdown, and TransFactor Universal kits for studying transcription factor-DNA interaction.
An expanded version of this article will appear in tomorrow's issue of BioCommerce Week, a GenomeWeb News sister publication.