PerkinElmer planning to acquire NEN Life Sciences for $400 million
US firm PerkinElmer has agreed to acquire NEN Life Sciences, a providerof state-of-the-art drug discovery products and services to the life science industry, from an investor group led by Genstar Capital for around $400 million. The acquisition is anticipated to close early in the third quarter of 2000, and is expected to be slightly accretive to earnings, excluding goodwill, in 2001. NEN expects revenues of $125 million this year.
Gregory Summe, PerkinElmer's chief executive, believes that the purchase of NEN "will position us among the top three global providers of drug discovery tools." He added that the new company will be able to "offer comprehensive solutions" to its global base of over 10,000 customers.
NEN brings with it 1,500 products, 70 patent families and more than 60 technology licenses with major industry and academic institutions which, PerkinElmer claims, are very complementary to its existing business. For its part, NEN's sales reach will be doubled to cover 100 countries.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze