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Inverness Medical Innovations buys Abbott products

This article was originally published in Clinica

Executive Summary

Inverness Medical Innovations has agreed to acquire a line of rapid diagnostics products from Abbott Laboratories. It will pay $56.6m for the Determine/DainaScreen business, which includes tests for hepatitis, HIV and syphilis, and which generated revenues of $23m in 2004. The deal brings Waltham, Massachusetts-based Inverness "a viable platform on which we can solidify our commitment to the Japanese market, said chairman, president and CEO Ron Zwanziger. Abbott will continue to distribute Determine products outside the US for up to 32 months in return for a sales commission. Clinica FILED 1 June 2005 COPYRIGHT T&F Informa UK Ltd 2005

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