Becton Dickinson to sell gene research arm:
This article was originally published in Clinica
Executive Summary
Becton Dickinson is to sell Clontech, a genomics unit of BD Biosciences. The move reflects the company's decision to focus BD Biosciences' activities on other drug discovery areas with better growth potential. Becton Dickinson expects to record a pre-tax charge of $125m in its fiscal fourth quarter. Morgan Stanley analyst Glenn Reicin said the divestment "does not look terribly material for Becton Dickinson in the long run". Clontech will generate about $60m of revenues in fiscal 2004.