Phadia

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Olink Bioscience this week appointed Simon Fredriksson as its new president and CEO, replacing Bjorn Ekstrom, who has led the company since its founding in 2004 and will be joining its board of directors.

By a GenomeWeb staff reporter
NEW YORK (GenomeWeb News) – Thermo Fisher Scientific today raised its adjusted EPS and revenues guidance for full-year 2011 following the completion of its purchase of specialty diagnostics firm Phadia.

The company has entered a bridge credit agreement for $2 billion and a revolving credit agreement for up to $1 billion.

The acquisition, expected to close in the fourth quarter, will give Thermo Fisher Phadia's immunoassay-based allergy testing and autoimmune disease-testing products.

The acquisition will significantly expand Thermo Fisher's specialty diagnostics business from current annual revenues of around $1.4 billion to roughly $1.9 billion.

The company's Multiplexing Diagnostics division will use the arrayer to develop molecular tools, including protein biomarkers, to diagnose allergy and autoimmunity.

Phadia will use the 2470 in its research efforts to characterize new allergens and to discover biomarker signatures that can be used in the molecular diagnosis of allergies and autoimmune diseases.

Consulting company McKinsey says diagnostics companies will have to combine genomic data analysis, electronic medical records, effective reimbursement strategies, and regulatory compliance in order to win.

A new report has found that researchers in Africa are still heavily dependent on funding from organizations in the US, Europe, and China, Nature News says.

An article in The Atlantic argues that the progress being made in science isn't keeping pace with the money and time being spent on research.

In Science this week: a CRISPR screen identifies sideroflexin 1 as a requisite component of one-carbon metabolism, and more.