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Bio-Rad Laboratories, Inc. (BIO) to Buy AbD Serotec for $69.8 Million


12/17/2012 7:15:01 AM

HERCULES, CA--(Marketwire - December 16, 2012) - Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B), a multinational manufacturer and distributor of life science research and clinical diagnostic products, today announced that it has signed a definitive agreement to acquire AbD Serotec, a division of MorphoSys AG for 53 million euros in cash. The transaction is subject to certain closing conditions and is expected to be completed in January.

"We are impressed with the quality of AbD Serotec's products as well as the company's reputation," said Brad Crutchfield, Bio-Rad President, Life Science Group. "With this acquisition, Bio-Rad will have access to a comprehensive catalog of antibodies allowing us to better serve our customers by offering total assay solutions that can be validated on our research platforms for western blotting, multiplex protein expression, ELISA, and cell sorting. In addition, we will be able to exploit a powerful in vitro technology to accelerate future antibody generation."

About Bio-Rad
Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B) has remained at the center of scientific discovery for more than 50 years, manufacturing and distributing a broad range of products for the life science research and clinical diagnostic markets. The company is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. Founded in 1952, Bio-Rad is headquartered in Hercules, California, and serves more than 100,000 research and industry customers worldwide through its global network of operations. The company employs over 7,100 people globally and had revenues exceeding $2 billion in 2011. For more information, please visit www.bio-rad.com.

About AbD Serotec
AbD Serotec, a division of MorphoSys AG, is one of the world's leading antibody manufacturers offering over 15,000 antibodies, kits, and accessories. AbD Serotec has an ISO 9001 and ISO 13485 certified production facility in the United Kingdom, as well as other facilities in Germany and the USA.

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" in the Company's public reports filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc., disclaims any obligation to update these forward-looking statements.


Press Contacts:
Bio-Rad Laboratories, Inc.
Tina Cuccia
Corporate Communications
510-724-7000
Email Contact


Read at BioSpace.com

   

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