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Sigma-Aldrich to Acquire BioReliance for $350M

NEW YORK (GenomeWeb News) – Sigma-Aldrich today said that it has signed an agreement to acquire BioReliance Holdings from Avista Capital Partners for $350 million in cash.

Rockville, Md.-based BioReliance provides biologic, specialized toxicology, and animal health testing to pharmaceutical, biopharmaceutical, diagnostics, and other life science customers. The firm had full-year 2010 revenues of around $110 million and is expected to post double-digit growth for 2011.

Avista had acquired BioReliance nearly five years ago from Invitrogen, now part of Life Technologies, for $210 million.

"The addition of BioReliance's industry-leading QA/QC testing services enables us to support customers' needs to determine the quality and integrity of biological drugs at every step of the development and manufacturing process," Sigma-Aldrich President and CEO Rakesh Sachdev said in a statement.

The deal is expected to close this quarter, and Sigma-Aldrich said that it expects the transaction to be "mostly accretive" to its earning per share in 2012.

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