By Dhirendra Tripathi
Investing.com – Danaher (NYSE:) shares were up more than 4% Thursday as the company announced it will buy privately-held Aldevron for $9.6 billion in cash.
Aldevron manufactures high-quality plasmid DNA, mRNA, and proteins, serving biotechnology and pharmaceutical customers across research, clinical and commercial applications.
Danaher President and Chief Executive Officer Rainer M. Blair said the acquisition will expand the company’s capabilities in genomic medicines and help it bring more life-saving therapies and vaccines to market faster.
Aldevron will operate as a standalone operating company and brand within Danaher’s life sciences segment.
Danaher expects to finance the acquisition using cash on hand and/or proceeds from the issuance of commercial paper.
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