QIAGEN Grows Molecular Diagnostics Business
DxS’s Manchester, England facility will become QIAGEN’s Center of Excellence in Pharma Partnering, and DxS senior management will join QIAGEN. QIAGEN stated that the two companies are involved in more than 15 collaborations with pharmaceutical companies to market or develop companion diagnostic products.
Venlo, The Netherlands 9/22/09—QIAGEN NV has acquired DxS, a developer and manufacturer of companion diagnostics products, for $95 million in cash, subject to purchase-price adjustments, plus up to $35 million if specific milestones are met. DxS’s currently markets seven real time PCR tests that allow physicians to predict patients’ response to treatments. The acquisition is expected to add $6 million in revenues for the remainder of 2009 and $30 million in 2010. “The acquisition of DxS is strategically a highly important transaction for QIAGEN. It combines two leadership positions to create a very powerful leader in a transformational area of healthcare: personalized healthcare,” stated QIAGEN CEO Peer M. Schatz. QIAGEN’s current molecular diagnostics business totals more than $450 million. The purchase is expected to be neutral to adjusted EPS for the remainder of 2009, to be dilutive by $0.02 in 2010 and to be accretive afterwards.
