Pharma BD Deal Intelligence
Merger created a scaled life-sciences leader (Life Technologies) that grew steadily, but its flagship sequencing asset (SOLiD) lost the platform war to Illumina, and the combined company itself was sold off to Thermo Fisher just over five years later.
Full analysis, sources & comparables →Robert W. Baird analyst Quintin Lai said the Invitrogen-AB combination occupies the genetics and molecular-biology space 'where Thermo Fisher is least exposed'…
The Invitrogen-AB merger is taught as a model of complementary-platform M&A in life-science tools — the asset base later attracted Thermo Fisher's $13.6B…
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Invitrogen acquired Applied Biosystems in a cash-and-stock transaction at $38 per share, forming Life Technologies with approximately $3.5 billion in combined revenues, 9,500 employees, and operations in over 100 countries. Analysts noted the deal combined largely non-overlapping genetics and molecular-biology franchises -- Applied Biosystems' instruments (including the SOLiD next-gen sequencing platform) with Invitrogen's reagents -- positioning the combined company against Illumina and Roche/454; Life Technologies was itself acquired by Thermo Fisher for $13.6 billion five years later.
Merger created a scaled life-sciences leader (Life Technologies) that grew steadily, but its flagship sequencing asset (SOLiD) lost the platform war to Illumina, and the combined company itself was sold off to Thermo Fisher just over five years later.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Invitrogen Corporation / Applied Biosystems Inc. (this deal) | 2008 | $6.7B | 54 |
| ViroPharma Incorporated / Lev Pharmaceuticals, Inc. | 2008 | $443M | 88 |
| Roche Holding AG / Ventana Medical Systems Inc. | 2008 | $3.4B | 88 |
| Shire plc / Jerini AG | 2008 | $521M | 85 |
| Alkermes plc / Cephalon, Inc. (Vivitrol rights) | 2008 | $27M | 83 |
| Sanofi-Aventis / Symbion Consumer (Primary Health Care) | 2008 | $544M | 71 |
| Takeda Pharmaceutical Company Ltd. / Millennium Pharmaceuticals | 2008 | $8.8B | 68 |
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