Millipore purchase strengthens its bioprocessing offering
US-based lab equipment and biologics products provider Millipore Corporation is to buy Serologicals Corp, headquartered in Atlanta, GA, for cash, providing it with a leading position in segments such as drug discovery, antibodies, cell biology reagents and stem cell research.
US-based lab equipment and biologics products provider Millipore Corporation is to buy Serologicals Corp, headquartered in Atlanta, GA, for cash, providing it with a leading position in segments such as drug discovery, antibodies, cell biology reagents and stem cell research.
Serologicals offers biological products for biological research and drug discovery, as well as producing monoclonal antibodies for the blood typing industry. Its acquisition will transform Millipore into a company with combined annual revenues of around US$1.4bn.
Millipore's Bioprocess division will gain a cell culture supplements business enabling it to offer up-stream cell culture as well as downstream separation offerings for biopharmaceutical production.
The combined organisation of around 5,800 employees will have significantly expanded r&d capabilities and expects cost-savings and synergies of $9 -10m in 2007 and $15 - 17m in 2008.
Serologicals shareholders will receive $31.55 in cash for each share of Serologicals common stock. The transaction is subject to Serologicals shareholder approval and expected to close about June 30, 2006. David A. Dodd, president and ceo of Serologicals will assist in the integration and will then depart from the company.