From the Boston Globe Business Team
Genzyme buys piece of Canadian company
November 9, 2007 01:11 PM
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Cambridge biotech company Genzyme Corp. has agreed to buy Diagnostic Chemicals Limited's diagnostics unit for $57 million.
Diagnostic Chemicals Limited is a privately-held diagnostics and biopharmaceutical company based in Charlottetown, Prince Edward Island, Canada, the company disclosed in a filing with the Securities and Exchange Commission this week.
The diagnostics unit includes its line of more than 50 clinical chemical reagents, which generated about $21 million in revenue during the 2007 fiscal year. The deal also includes the Canadian company's diagnostic operations in Prince Edward Island and Connecticut, but excludes assets related to its bio-pharma unit, BioVecra.
(By Todd Wallack, Globe staff)
