Qiagen to acquire SABiosciences

Qiagen N.V. (Xetra:QIA; NASDAQ:QGEN) will acquire microarray company SABiosciences Corp. (Frederick, Md.) for $90 million in cash. SABiosciences (formerly SuperArray Bioscience Corp.) markets over 100 real-time PCR assay panels for research use. Qiagen expects the acquisition to add about $24 million in sales in 2010. The deal, which needs to be approved by SABiosciences' stockholders, is expected to close in late December. Qiagen said the deal complements its recent acquisition of diagnostic company DxS Ltd. (See BioCentury, Nov. 02, 2009).

Separately, Qiagen reported 3Q09 adjusted diluted EPS of $0.26, beating by $0.03 the Street's estimate of $0.23 and up 24% from $0.21 in 3Q08. Third quarter revenues were $259.7 million, up 13% from $230.8 million in 3Q08. The company increased the lower end of its full-year adjusted diluted EPS guidance range by $0.02 and now expects EPS of $0.88-$0.90. ...