Bio-Rad Completes AbD Serotec Purchase
On Thursday, Bio-Rad Laboratories confirmed that it has completed its purchase of the AbD Serotec division of Germany's MorphoSys AG for about $70 million cash.
In a statement, Bio-Rad described AbD Serotec as being "one of the world's leading antibody manufacturers offering more than 15,000 antibodies, kits, and accessories."
According to S&P Capital IQ, Serotec is profitable, earning $1.2 million in 2011 on $25.1 million in revenues.
Bio-Rad shares are up 0.2% as of this writing, at $110.00, and up nearly 6% since the acquisition was first announced last month.
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