News

$2.2bn: Agilent acquires Dako
Enlarge image

BusinessDenmark

$2.2bn: Agilent acquires Dako

21.05.2012 - Agilent has paid US$2.2bn for diagnostics specialist Dako in the largest acquisition in its history.

Glostrup/Santa Clara-based - It is the next billion dollar deal in the field of molecular diagnostics: Agilent Technologies Inc. will acquire Danish cancer diagnostic and tools company Dako A/S for US-$2.2bn in cash.

The acquisition would increase its presence in the life sciences and diagnostic markets, and complement its molecular analysis portfolio of fluorescence in situ hybridisation (FISH) assays. Agilent added that, because more than 90% of Dako's business is reagents and services, the deal will reduce volatility and grow Agilent's recurring revenues to 30% from 25% of total revenue.

Agilent had net revenues of US-$6.6 bn in  2011. The deal is expected to close within 60 days. Credit Suisse advised Agilent. Tissue-based diagnostics firm Dako provides antibodies, reagents, instruments, and software to the clinical pathology market worldwide, and also collaborates with the pharma industry on the development of companion diagnostics. The firm reported annual revenues of some US $240m in 2010 and employs over 1,000 people worldwide. Dako has several companion diagnostic deals with biotech and pharma companies, including one with Roche's Genentech Inc. to market HercepTest as a patient selection aid for HER2-positive breast cancer drug Herceptin trastuzumab.

BusinessSpainUKSweden

31.07.2014 Astrazeneca is buying the rights to Almirall’s respiratory drugs in a deal worth up to €1.56bn.

BusinessFranceGermanySwitzerlandUK

30.07.2014 Rumours have it that French Danone wants to sell its medical nutrition business to US drugmaker Hospira for US$5bn in yet another tax inversion deal.

RegulationUKEU

29.07.2014 The first vaccine for malaria may be within reach: The European Medicines Agency has accepted Glaxosmithkline’s malaria vaccine candidate RTS,S for regulatory review.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • PHARMING (NL)0.48 EUR11.63%
  • MDX HEALTH (B)3.80 EUR10.79%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK8.53%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • NOVACYT (F)4.46 EUR-10.26%

TOP

  • WILEX (D)2.82 EUR243.9%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK44.3%
  • Allergy Therapeutics (UK)20.00 GBP34.4%

FLOP

  • HYBRIGENICS (F)1.72 EUR-28.0%
  • PROSENSA (NL)9.67 USD-23.4%
  • PROTHENA PLC (IE)17.79 USD-21.1%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)431.00 GBP656.1%
  • PAION (D)2.42 EUR272.3%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.7%
  • CYTOS (CH)0.27 CHF-92.0%
  • PROSENSA (NL)9.67 USD-70.9%

No liability assumed, Date: 31.07.2014