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May 16, 2007

Bio-Rad Acquires DiaMed For Over $391M

  • Bio-Rad Laboratories plans to acquire DiaMed Holding for CHF 477 million, or approximately $391.48, through a definitive agreement. This price covers 77.7% of DiaMed’s outstanding shares.

    DiaMed holds approximately 9.6% of its outstanding shares as treasury shares. After the closing of this transaction, Bio-Rad reports that it will conduct a tender offer to acquire the remaining 12.7% outstanding shares.

    “DiaMed has an outstanding reputation for quality products and customer care,” reports John Goetz, Bio-Rad vp and group manager, clinical diagnostics. “We believe this portfolio of products will fit in well with Bio-Rad’s existing diagnostics business.”

    DiaMed develops, manufactures, and markets a complete line of reagents and instruments used in blood typing and screening. The company has annual sales of approximately $200 million to hospitals, clinical laboratories, and blood banks in more than 100 countries, according to Bio-Rad.

    Bio-rad expects to close the acquisition later this year.

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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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