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Warnex Will Retain Lab-Services Business as External 'Options' Review Ends

NEW YORK (GenomeWeb News) — Warnex last week said it will retain its lab-services business as an external review launched in April to study “various strategic options” for the unit has ended.
 
Warnex's board “has concluded that at the present time, the option which provides the most value for its shareholders is the continued operation of its laboratory-services business,” the company said in a statement.
 
The company will “focus on maximizing the profitability” of its analytical, bioanalytical, and medical laboratory divisions, Warnex said. The firm’s medical laboratories division focuses on genetic and biochemical testing for the healthcare industry and has extensive expertise in genetic testing for human identification, molecular diagnostics, and pharmacogenetics.
 
Its analytical-services division provides pharmaceutical and biotechnology companies with a variety of quality control services, including traditional chemistry, chromatography, microbiology, method development and validation, and stability studies.
 
Warnex’s bioanalytical-services division specializes in bioequivalence and bioavailability studies for clinical trials.
 
"The board of directors believes in the continued success of Warnex's laboratory-based services," Chairman Richard Laferriere said in the statement. “After having undergone a comprehensive analysis of the current options, the board of directors believes that the best avenue to generate value for Warnex's shareholders lies in the continued profitable growth of Warnex's operations."
 
In July, Quebec-based Warnex sold its pathogen-detection business to AES Laboratoire, a French lab-equipment supplier, for CAN$900,000 ($859,000) in cash.

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