Qiagen and Digene Announce $1.6 Billion Merger

Qiagen and Digene announced a definitive agreement to combine the two companies in an effort to create a “global leader in molecular diagnostics.”

Qiagen will acquire 100 percent of Digene’s stock for a combination of cash and Qiagen common stock. Under the agreement, the transaction will be followed by a merger of Digene into a subsidiary of Qiagen.

This transaction will combine Qiagen’s sample and assay technologies with Digene’s experience in HPV-targeted molecular diagnostic testing, Digene said.

Digene anticipated the combined company will have more than $350 million of molecular diagnostics revenue and more than $800 million in revenue overall in 2008.

SOURCE: FDA NEWS