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Article: Bayer Buying Pharmacogenomics Firm Visible Genetics For $61.4M.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Bayer Corp. is scooping up Visible Genetics Inc. for $61.4 million in cash as the parties signed a definitive agreement for a deal that brings to Bayer VGI's Trugene HIV-1 Genotyping Kit and OpenGene DNA Sequencing System.
The product, which received marketing clearance in September, expands Bayer's presence in the nucleic acid diagnostic segment of the professional laboratory market. The company's Tarrytown, N.Y.-based diagnostics division labeled the acquisition another milestone in a strategy to expand its infectious disease portfolio through marketing molecular diagnostic tests.
"They feel molecular diagnostics is a growth ...
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