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.
Life Technologies is losing one of its executives to a diagnostics startup, as the Carlsbad, CA, company's planned $13.6 billion sale to Thermo Fisher Scientific in Massachusetts reaches its final stages.
Life Technologies has to fork over $48.6 million to Enzo Biochem thanks to judge's ruling on an 8-year patent saga, and Enzo says it plans to pursue millions more in damages.
Thermo Fisher raked in $3.24 billion in sales, a second quarter record, on the way to an estimate-beating $277.4 million in profits. And, as CEO Marc Casper has been saying since April, things will only improve once the company can bring Life Technologies into the fold.
Life Technologies brings newly acquired biomarker expertise to its companion diagnostics collaboration deal with Merck Serono, putting into play technology it snatched up last October.
Life Technologies and Merck Serono plan to work together on companion diagnostics, beginning with a buddy diagnostic for a cancer drug.
Life Technologies is linking with Merck Serono to develop companion diagnostics for cancer and other diseases, a calculated advance for the company as it waits to be snatched up by Thermo Fisher in a $13.6 billion deal.
After a run of fairly earthbound price tags in 2012, the titans of med tech have loosened their billfolds this year, stringing together multibillion-dollar deals across devices and diagnostics. Read on for a look at the trends driving 2013's buying sprees and a glimpse at what's perhaps to come as the industry gets brave in the checkout line. More >>