QIAGEN acquires Enzymatics enzyme solutions unit

13-Jan-2015 - Germany

Qiagen N.V. announced the acquisition of the Enzyme Solutions Unit of Enzymatics, a world leader in the development, manufacturing, and OEM supply of enzymes essential to driving the adoption of Next-Generation Sequencing (NGS) and other genetic analysis technologies in life sciences research and clinical healthcare.

The addition of this Enzymatics franchise adds a deep portfolio of capabilities to QIAGEN’s strategy to offer a complete NGS workflow from biological sample to valuable molecular insights as well as strengthens a broad and rapidly growing portfolio of “universal” NGS products compatible with any sequencer. The Enzymatics portfolio that has been acquired will be commercialized globally through QIAGEN’s direct, indirect and OEM channels.

QIAGEN has acquired all assets relating to the Enzyme Solutions Unit of Enzymatics – including R&D, manufacturing, formulation, and analytical capabilities – which will further enhance the company’s expertise in enzymology. Approximately 50 employees have joined QIAGEN at the current Enzymatics site in Beverly, Massachusetts. Financial terms of the transaction, which was completed in December 2014, were not disclosed.

In addition, QIAGEN has entered into a strategic partnership with the newly founded company ArcherDX, which integrates the Archer^TMand Supply Chain Solutions businesses of Enzymatics. This agreement provides QIAGEN with technology and distribution rights for unique NGS products based on ArcherDX’s proprietary AMP™ chemistry, a target enrichment technology platform that enables the detection of gene fusions, without prior knowledge of fusion partners or breakpoints, and other targets that are considered to be especially critical for Personalized Healthcare in oncology.

For 2015, QIAGEN expects the acquired Enyzmatics activities to provide approximately $20 million CER (constant exchange rates) of incremental net sales (which takes into account overlapping product portfolios) and to be accretive by approximately $0.01 to adjusted diluted EPS. QIAGEN will provide guidance for 2015 with the publication of its fourth quarter and full-year 2014 results on January 29.

Following this transaction, QIAGEN will now take a business integration and acquisition-related pre-tax charge on operating income in the fourth quarter of 2014 of approximately $21 million (or approximately $0.06 per share of adjusted diluted EPS), and of which $18 million are non-cash items. These charges, which will be excluded from adjusted results, involve actions to reduce overlapping activities and sites, including the closing of the Gaithersburg, Maryland, site. In addition, following a review to further improve efficiency and effectiveness, QIAGEN will now take a restructuring-related pre-tax charge on operating income in the fourth quarter of 2014 of approximately $26 million (or approximately $0.08 per share), and of which $20 million are non-cash items. In line with QIAGEN’s policy, these restructuring charges, which primarily involve the impairment of various technology-related assets, will not be excluded from adjusted results. For full-year 2014, QIAGEN expects to have achieved its previously announced guidance for diluted adjusted EPS of $1.08 CER, but for these results to be reduced to approximately $1.00 CER as a result of the new restructuring charges.

QIAGEN is reaffirming its guidance for adjusted net sales growth of approximately 4% CER for both the fourth quarter of 2014 as well as the full year.

https://www.analytica-world.com/en/news/151163/qiagen-acquires-enzymatics-enzyme-solutions-unit.html