The deal, which excludes BD’s advanced bioprocessing platform, is aimed at sharpening its focus on its bioscience and instrumentation businesses, according to executive vice president William Kozy.
"This sale will enable our BD Biosciences segment to focus resources and management attention on both our recent Biosciences acquisitions and our recently launched new instrumentation products, which are essential to our accelerated growth efforts," Kozy said in prepared remarks.
The divestiture is slated to close by the end of the year. BD said the assets are forecast to put up about $235 million in revenues and between 23¢ and 27¢ in profits for fiscal 2012.
Cook launches new biotech arm
Cook Group said it’s launching a new biotech arm, Cook General BioTechnology, built on its acquisition of General BioTechnology to add new cell and tissue processing and cryopreservation technologies to its portfolio. Specific terms of the deal weren’t released. Read more
Delcath goes Dutch
Delcath (NSDQ:DCTH) signed a launch and training agreement with the Netherlands Cancer Institute-Antoni van Leeuwenhoek Hospital in Amsterdam for its Chemosat liver cancer treatment. Read more
- Allergan (NYSE:AGN): Bank of America increases price target from $100 to $106, maintains "buy" rating.
- Amgen (NSDQ:AMGN): JP Morgan maintains "neutral" rating.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.