Roche Expands Research Offerings
Roche has a long history with BioVeris, having lost a patent battle with the company in 2002 (see IBO 1/15/02). The acquisition adds to Roche’s research offerings, which also include PCR instruments and reagents, as well as DNA sequencers, following the company’s recent acquisition of 454 Life Sciences (see IBO 3/31/07).
Basel, Switzerland 4/4/07; Gaithersburg, MD 4/4/07—Roche has signed a definitive agreement to acquire BioVeris for $21.50 per share in cash, or approximately $600 million. BioVeris offers reagents and instruments for diagnostic testing and research based on its electrochemiluminescence technology (ECL). Roche Diagnostics stated that the acquisition will allow it to expand its immunochemistry business from human diagnostics into life science research and development, patient self-testing, veterinary testing, drug discovery, drug development and clinical trials. “ECL is a highly innovative technology. In comparison with other detection technologies, ECL offers distinct advantages such as enhanced sensitivity, short incubation times and broad measuring ranges,” stated Severin Schwan, CEO of Roche Diagnostics. Pending the approval of BioVeris shareholders, the transaction is expected to close in the third quarter.
