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    Home»Deals & Transactions»DiaSorin strikes $1.8 billion Luminex deal to dodge ‘COVID cliff’
    Deals & Transactions

    DiaSorin strikes $1.8 billion Luminex deal to dodge ‘COVID cliff’

    April 13, 20211 Min Read
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    Italian diagnostics firm DiaSorin has agreed to buy U.S. rival Luminex Corp for $1.8 billion in a move that could boost its molecular business and offset a potential drop in demand for COVID-19 tests as the pandemic is brought under control.

    The pandemic has fuelled rapid growth at Diasorin’s molecular division, which in 2020 accounted for 29% of sales. But as the rollout of COVID-19 vaccines progresses, some analysts have raised concern about a possible drop in demand for COVID-19 molecular tests once the emergency is over.

    The deal, which grows DiaSorin’s footprint in the key U.S. market, follows a similar acquisition by diagnostics rival Roche, which bought GenMark Diagnostics in a $1.8 billion deal to fill a testing portfolio gap.

    Luminex will be merged with a newly formed U.S. subsidiary of DiaSorin. The combined group would have had 2020 revenues of around $1.5 billion.

    Read more at Reuters

    By Giancarlo Navach

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    Mergers and acquisitions
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