LifeTech completed acquisition of Ion Torrent for $375 million

-
Here is the climax of the stories Life Technologies to Acquire Ion Torrent for up to $725M and The Argument Continues - Blue Ray or HD, Intel or AMD and now Illumina or Life Tech? Life Technologies has completed its acquisition of Ion Torrent for $375 million in cash and stock. The total value of the deal could rise by another $350 million if certain technical and time-based milestones are met through 2012.

The acquisition adds Ion Torrent's semiconductor chip-based sequencing platform, which measures the release of hydrogen ions as nucleotides get incorporated by DNA polymerase. Unlike other existing second-generation sequencers, it does not require lasers, cameras, or labels. The first system based on the technology is the Personal Genome Machine sequencer, which will be launched in the fourth quarter of this year.
Life Technologies said that the transaction is expected to be $.02 dilutive to its earnings per share in 2010, neutral in 2011, and accretive in 2012 and beyond. The firm said that its EPS forecast for this year is unchanged at $3.35 to $3.50.
At the time the acquisition was announced in August, John Sullivan, director of equity research at investment bank Leerink Swann, said in a research note that Life Technologies is paying "a full price, given the commercial risks, but Ion Torrent's technology looks differentiated."
But Life Technologies CEO Greg Lucier defended the potential $725 million purchase price two weeks ago at the UBS Global Life Sciences Conference, saying that Ion Torrent's technology will help make sequencing technology available for different applications and for users that otherwise may not have access to it. According to Lucier, the technology could "revolutionize the whole genetic testing market."

Comments

Post a Comment

Popular posts from this blog

Abbott Laboratories Buys Piramal Healthcare Limited Biz for $3.72B

-
Abbott May 21 announced a definitive agreement with Piramal Healthcare Limited to acquire full ownership of Piramal's Healthcare Solutions business (Domestic Formulations), a leader in the Indian branded generics market, for an up-front payment of $2.12 billion , plus $400 million annually for the next four years, giving Abbott the No. 1 position in the Indian pharmaceutical market. This further accelerates Abbott's emerging markets growth following the recent acquisition of Solvay Pharmaceuticals and announcements last week of Abbott's collaboration with Zydus Cadila as well as the creation of a new stand-alone Established Products Division to focus on expanding the global markets for its leading branded generics portfolio. "This strategic action will advance Abbott into the leading market position in India , one of the world's most attractive and rapidly growing markets," said Miles D. White , chairman and chief executive officer, Abbott. ...
Read more

Top 25 Indian Bioinformatics Companies

-
Here is another, quite interesting blog page with a list of Top 25 Indian Bioinformatics Companies by a fellow blogger Nabeel Basheer, while there is no actual criteria behind listing these 25 companies. It is a good handy list just in alphabetic order for all those job seekers. More so a good chronicle of the local informatics industry as well. 1. Accelrys Software Solution Pvt Ltd. 12th Floor, Discover, ITPL, White Field, Bangalore-65. www.accelrys.com 2. Apticraft Systems (P) Ltd. 142, Electronics Complex, Pardeshipura, Indore – 452010 (M.P.), India www.apticraft.com 3. Aptuit Informatics Plot No. 100-103, Export Promotion Industrial Park, White Field, Bangalore-560066 www.aptiuit.com 4. Bigtec J. K. Towers, 8th Block, Sangam Circle,46th Cross, Bangalore-560082. www.bigtec.org 5. Bijam Biosciences Private Limited Nagarjuna Hills, Hyderabad 500 082, India www.nagarjunagroup.com 6. Bio Base Databases India Pvt Ltd. Crescent Towers, 4th Floor, No : 32/1, Crescent Road, Bnagalore -...
Read more