BECTON DICKINSON TO ACQUIRE TRIPATH FOR $350 MILLION
Becton Dickinson (BD) has collaborated with TriPath since 2001 in developing cancer biomarkers and has reached a definitive agreement to acquire the remaining 93.5 percent of TriPath shares for $350 million, according to a research report by analyst Jeffrey Frelick of Lazard Capital Markets. The deal is expected to close by the end of this calendar year, the report said.
Acquiring TriPath Imaging is part of BD's molecular diagnostic strategy, the report said. "We believe this merger strengthens BD's cancer diagnostic initiatives with new cancer biomarkers as well as providing some sample collection options for its infectious disease platform."
BD could seek FDA approval to run additional patient samples on its ProbeTec system for gonorrhea and chlamydia from liquid Pap specimens collected in TriPath's solution vial.
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