Scientific instruments maker PerkinElmer Inc said on Monday it would buy Germany’s Euroimmun Medical Laboratory Diagnostics AG for about $1.3 billion in cash to expand its reach into autoimmune and allergy diagnostic markets.
The deal also offers new infectious disease capabilities to its customers in China, PerkinElmer said.
The acquisition is expected to add about $0.28 to $0.30 per share to PerkinElmer’s 2018 adjusted earnings, it said, and reaffirmed its 2017 revenue and earnings per share forecast.
Lubeck, Germany-based Euroimmun, which has about 2,400 employees, is expected to generate about $310 million in revenue this year, PerkinElmer said in a statement.
The deal is expected to close in the fourth quarter of 2017, PerkinElmer said.
By Subrat Patnaik
Months of fervid research have whittled away most potential options to treat patients with COVID-19, a group of antibody cocktails still hold promise. Eli Lilly believes so strongly in its contender that it’s […]
Japanese drugmaker Takeda has trumpeted its plan in recent years to cut billions of dollars in costs and pivot around oncology and rare diseases. A key part of that strategy […]
Just under a week after it stopped its key phase 3 pandemic vaccine test, AstraZeneca and the University of Oxford have been given the green light to restart in the […]