Corning Completes BD Discovery Labware Business Acquisition
Broadens Life Sciences product portfolio and geographic reach
Corning Incorporated announced that it has completed the previously announced acquisition of the majority of the Discovery Labware business from BD (Becton, Dickinson and Company) for approximately $720 million in cash.
The acquisition of the BD Discovery Labware business will expand Corning Life Sciences' market presence in the multi-billion dollar global laboratory consumables market, especially in important Asian markets such as India, Korea, and Japan. Corning's broad portfolio of laboratory products and services will be significantly enhanced by the addition of the Discovery Labware business's four main product platforms: plastic consumable labware (liquid handling and cell culture products); biologically coated plastic consumable labware; cell culture reagents; and ADME research.
"We are eager to move forward with this very exciting opportunity to expand Corning's leadership in the growing laboratory consumables industry," said Dr. Richard M. Eglen, vice president and general manager, Corning Life Sciences. "Discovery Labware's talented team of professionals has a proven history of delivering customer-driven solutions. We will build a bright future together through our outstanding combination of technologies, service, and global market access."
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