New York, NY 2/13/07; Carlsbad, CA 2/13/07—Invitrogen has agreed to sell BioReliance to private equity firm Avista Capital for $210 million. BioReliance, a contract service organization providing biological safety testing, toxicology, viral manufacturing and laboratory animal diagnostic services, has annual revenues of $110 million and provides services to more than 600 clients per year. Tim […]
The fiscal 2007 federal budget was finally signed into law by President Bush on February 15. The law makes permanent most of the funding amounts in the continuing resolution passed by Congress in December 2006 that essentially froze agency and program budgets at fiscal 2006 levels. However, Congress did provide funding increases for selected programs […]
R&D activities in India have been booming: while the country only spent $2.9 billion on R&D in 2001, by 2004, this figure reached $24 billion. R&D spending is expected to reach $27.5 billion by 2010, and swell to $119 billion—2.7% of India’s estimated GDP—by 2020. There are currently 130 domestic firms and 220 multinational companies […]
While President Bush’s proposed budget for FY08 would increase the total federal R&D investment by 1.4% to $143.0 billion, federal support of basic and applied research would decline to $55.4 billion, a 2% drop from the FY07 budget. Not including NASA, the total budget increase for nondefense R&D agencies is only 0.8%, below the national […]
Grand Rapids, MI 2/8/07; Amersham, UK 2/8/07—Halma has acquired X-Rite’s Labsphere business for $13.9 million in cash and a deferred cash consideration of $1.5 million. Labsphere is a designer and manufacturer of light testing and measurement products, as well as specialized optical coatings. The company posted 2006 revenues of $12.5 million and an operating profit […]
With 15 of the 23 Laboratory Instrument Sales Index companies reporting calendar year-end results, fourth quarter 2006 revenues grew an estimated 10.5% to $4,131 million. Fourth quarter operating profit growth rebounded from a year ago, improving 8.0% to $707 million. However, operating margin dropped 40 basis points to 17.1% of sales. The five largest instrument […]
Between 2000 and 2005, the Chinese biopharmaceutical sector grew 30%, while the global average for the sector grew 19%. Nonetheless, some observers are concerned that production will slow over the next five years. The fastest-growing Chinese biopharmaceutical manufacturers have concentrated on using genetically modified microorganisms to express proteins and very few are developing the capacity […]
Chelmsford, MA 2/5/07—Magellan Biosciences has sold Tek-Cel, a provider of laboratory sample management and storage solutions, to Hamilton, which sells laboratory robotics, chromatography and fluid subsystem products. Financial details were not disclosed. Hamilton is expected to keep TekCel’s headquarters in Hopkinton, Massachusetts and to grow Hamilton’s East Coast presence. Magellan President and CEO Dr. Robert […]
The mass spectrometry (MS) market is continuing to develop at a rapid pace as vendors try to improve the performance and capabilities of MS systems. In their zeal to find the newest and best performing design, as well as to negotiate the increasingly dense field of technological patents, these vendors are exploring many possible tandem […]
Company Announcements Ingersoll Rand Security Technologies agreed to jointly market and sell HiEnergy Technologies’ SIEGMA explosives detection and confirmation system. RAE Systems integrated its chemical and radiation product lines into MDI Security Systems’ ONE Unified Technology platform. Thermo Fisher Scientific’s Santa Fe, New Mexico radiation detection equipment manufacturing facility will cease operations in March, according […]
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IBO (Instrument Business Outlook) is a twice-monthly newsletter aimed at providing decision-makers with the latest and most complete information available on the life science and analytical instrument industry, and lab product markets. IBO delivers the latest curated industry news, information and trends, as well as SDi data and analysis to deliver the maximum in industry insight with a minimum time investment for executives and investors.
