Novartis AG Ends Pursuit of Gen-Probe Incorporated (GPRO)
7/20/2011 8:20:04 AM
Novartis AG is no longer actively pursuing U.S. medical diagnostic-testing company Gen-Probe Inc., meaning Gen-Probe could end its sales process without a buyer, people familiar with the matter said. Novartis appeared to be the only potential suitor left after other bidders, which included Life Technologies Corp. and Thermo Fisher Scientific Inc., dropped out of the race for Gen-Probe last month, these people said. That meant that Novartis, the Swiss health-care giant, was less motivated as a potential buyer because it didn't face competition for Gen-Probe, which is based in San Diego and sells tests for AIDS and other sexually transmitted diseases, these people added.