Thermo Fisher has closed its mammoth $13.6 billion buyout of Life Technologies, barely a few days after U.S. antitrust regulators signed off on the deal.
Thermo Fisher Scientific grew revenue solidly but watched net income decline at the end of 2013, hit by extra costs stemming from acquisitions and reorganization.
Thermo Fisher has finally grabbed what it needed to close its $13.6 billion bid for Life Technologies – U.S. antitrust approval. But there are strings attached. For the deal to go through, the Massachusetts laboratory equipment giant must sell some divisions to GE Healthcare in an arrangement that mirrors similar agreements with European and Chinese regulators.
Thermo Fisher has cleared yet another hurdle in its bid to buy life technologies for $13.6 billion, with news today that China's Commerce Ministry has signed off on the deal.
Quest Diagnostics, which is facing a challenging reimbursement environment that's dampening sales, has signed three deals that the New Jersey company says will enhance its ability to develop next-generation diagnostic devices.
After nearly 9 years of legal back-and-forth, Enzo Biochem is still reaping rewards from its lawsuit against Life Technologies, picking up another $12.4 million in damages and bringing its total haul to more than $61 million, the company said.
When Thermo Fisher Scientific announced a $3.2 billion bond offering Wednesday, Fitch Ratings promptly lowered the medical device maker's credit rating to BBB and Moody's Investors Service said it likely will do the same.
Thermo Fisher is plodding along with its blockbuster agreement to trade $13.6 billion for competitor Life Technologies, picking up European Commission approval on the condition that it sheds a few business units.
Advanced Cell Diagnostics has scored a major deal to expand the reach of its molecular pathology RNA biomarker test tech around the world. In a boon for the California company, Life Technologies has agreed to sell Advanced Cell Diagnostics' RNAscope series of probes and diagnostic kits to researchers through its global distribution network.
California's Quidel picked up FDA clearances for two infectious disease tests that run on Life Technologies' diagnostics platform, and the two companies are partnering up to spread the assays around the globe.