GE buys interest in DNA

Share this article:

General Electric has scooped up Thermo Fischer Scientific's DNA purifying and cell-line growing technology for just over $1 billion, Bloomberg reports.

The deal helps both companies pursue their respective business objectives. Bloomberg notes that the deal means GE will now be able to promote technologies that aid discovery and manufacturing of medicines and diagnostics, somewhat counterbalancing its exit from consumer finance.

At the same time, Bloomberg notes, the divestiture could help Thermo Fischer get EU approval to acquire Life Technologies Corp. for $13.6 billion. This deal would put Life's genetic testing and mapping equipment under Thermo's roof.

Share this article:
close

Next Article in Business Briefs

Email Newsletters

More in Business Briefs

Imbruvica lassoes CLL indication

The FDA slapped a Breakthrough Therapy label on the CLL indication pursuit in February.

FDA asks social media "how'm I doin?"

The FDA's Center for Drug Evaluation and Research's Office of Communications wants a system that will help assess its messaging reach across the interwebs and its many forums.

Reckitt Benckiser wants out of pharma

The company plans to spin off its pharmaceutical unit.