Thermo Fisher Scientific Announces $11.5Bn Buyout Of Qiagen
Thermo Fisher expects the deal to improve its portfolio of specialty diagnostics for clinical labs while its genetic analysis technologies, biosciences reagents and consumable products will complement Qiagens’ sample preparation and assay technologies.
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A PwC analysis finds biopharma aggregate deal value declined 87% during the first half compared to the second half of 2018; deal volume dropped 17%. The pandemic was a cause, but not the only factor.
Hedge fund Davidson Kempner advised Qiagen to ask for a higher acquisition price from Thermo Fisher Sciences as COVID-19 has increased demand for diagnostic products.
Device financing totaled $1.4bn during the first quarter of 2020. Merger and acquisition activity reached $714.5m, with only two transactions hitting the six-figure mark. Financings by diagnostics/research players totaled $985m and just six companies were acquired, four of which together were valued at $11.6bn, most coming from Thermo Fisher Scientific’s $11.5bn buy of fellow public life sciences company Qiagen NV.