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Both companies‘ boards of directors have approved the deal

Swiss company to buy BioVeris

piumini moncler Roche plans to use Gaithersburg biotech to expand diagnostics piumini moncler

moncler bambino saldi April 05, 2007By Tricia Bishop Tricia Bishop,Sun reporter moncler bambino saldi

moncler donna Swiss pharmaceutical giant Roche has agreed to acquire BioVeris Corp., a Gaithersburg biotechnology moncler uomo business, for $600 million, the companies announced yesterday. moncler donna

moncler outlet Roche said the acquisition would help moncler outlet online uomo expand its diagnostics division by adding moncler saldi uomo BioVeris‘ „electroluminescence“ or ECL technology, which moncler outlet serravalle uses light emissions to help discover new drugs, monitor and diagnose diseases and identify bacteria or toxins in the environment. moncler outlet

outlet moncler moncler outlet „In comparison with other detection technologies, piumini moncler ECL offers distinct advantages such as enhanced sensitivity, short incubation times and moncler saldi outlet broad measuring ranges,“ Severin Schawn, chief executive of Roche Diagnostics, said in a statement. outlet moncler

moncler outlet online shop BioVeris‘ shares, which were in the $3 range a year ago, closed up $7.06 to $20.66 yesterday. The 52 percent price increase made it the most advanced stock on the Nasdaq. The deal, at $21.50 per share, is a 58 percent moncler saldi increase over Tuesday’s BioVeris closing price of $13.60. moncler outlet online shop

moncler outlet trebaseleghe It’s piumini moncler outlet the latest in a string of mergers and acquisitions pairing big pharmaceutical companies in need of new products and technologies with smaller businesses developing them. On Monday, Roche said it would buy California’s Therapeutic Human Polyclonals Inc. for $56.5 million. And last month, its diagnostic division announced plans to pay $140 million for Connecticut’s 454 Life Sciences. moncler outlet trebaseleghe

piumini moncler uomo Such acquisitions are a staple for Roche Diagnostics, according to a January report by analyst Arun AK of Frost Sullivan. piumini moncler uomo

piumini moncler saldi „The company is well positioned in the market and constantly milking the piumini moncler saldi innovative companies in order to stay ahead of the competition,“ AK wrote. piumini moncler saldi

moncler saldi uomo The BioVeris transaction is expected to close in the third quarter of this year. Both companies‘ boards moncleroutlet-i of directors have approved the deal, though it’s still contingent upon the support of BioVeris shareholders and certain regulatory approvals. Chief executive Samuel J. Wohlstadter, the company’s majority shareholder with nearly 20 percent of the stock, has moncler donna promised to vote moncler bambino outlet in favor of the acquisition. moncler saldi uomo

moncler saldi And he already has experience selling to Roche. moncler saldi

moncler outlet online uomo In 2003, Wohlstadter and colleagues sold parts of Gaithersburg based IGEN Integrated Healthcare to Roche for about $1.3 billion after years of patent litigation. moncler outlet online uomo

moncler outlet serravalle The sale settled the legal dispute and BioVeris was created from there, with the understanding the Roche would not use IGEN’s moncler outlet ECL technology in certain areas reserved for BioVeris. moncler outlet serravalle

moncler uomo But the Swiss company allegedly used the technology in unapproved ways, according to BioVeris, which complained of „out of field sales,“ for which it received a back payment of $2.8 million in January. This latest sale will resolve those accusations and put the ECL technology solidly in Roche’s hands. moncler uomo

piumini moncler outlet BioVeris, which has about 200 employees, has reported net losses ranging from moncler outlet trebaseleghe $27.9 million to $93.3 million for all of its piumini moncler scontatissimi past fiscal years. Its revenue hit an annual high in fiscal year 2005 at $26.3 million. piumini moncler outlet

moncler bambino outlet „Given the history between the parties and the scope of Roche’s existing diagnostics business, outlet moncler Roche is the natural buyer for BioVeris,“ Wohlstadter said in a statement, adding that he’s „pleased that this transaction will deliver substantial value to BioVeris shareholders.“ moncler bambino outlet

moncler saldi outlet Wohlstadter plans to again spin piumini moncler uomo out companies after the sale, purchasing some moncler bambino saldi assets and rights to certain intellectual property having to do with vaccine research and some aspects of ECL. moncler saldi outlet

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