HQ Team
November 7, 2023: Shareholders of Abcam Plc., a UK-based manufacturer and supplier of antibodies and reagents used for medical research, have approved a plan from US’s Danaher Corp to acquire the company for $5.7 billion.
Danaher will acquire the outstanding shares of Abcam for $24.00 per share in an all-cash deal, including debt, according to an Abcam statement.
At the general meeting, 89.42% of votes were cast in favour of the resolution and the transaction is expected to close by mid-2024.
“This outcome has arrived at the right time for Abcam to embark on the next chapter in its story within the Danaher family,” said Alan Hirzel, Chief Executive Officer of Abcam.
Abcam’s worldwide customer base of approximately 750,000 life science researchers uses Abcam’s antibodies, reagents, biomarkers and assays. It was founded in 1998 and is headquartered in Cambridge, UK.
The company has served customers in more than 130 countries.
6.5% CAGR growth
Abcam is expected to operate as a standalone operating company and brand within Danaher’s Life Sciences segment, “furthering Danaher’s strategy to help map complex diseases and accelerate the drug discovery process,” according to an earlier statement.
The research antibodies and reagents industry is poised for substantial growth in the near term, driven by the increasing demand for innovative tools and solutions in the fields of life sciences and biotechnology.
The research antibodies and reagents market, in terms of revenue, is projected to be worth $11.8 Billion in 2023 and is poised to reach $16.2 Billion by 2028, growing at a CAGR of 6.5% from 2023 to 2028 according to a new report by MarketsandMarkets.
Advancements in areas such as immunotherapy, genomics, and personalized medicine are propelling the need for high-quality antibodies, assays, and reagents, enabling scientists to conduct more precise and comprehensive research.
Outsourcing
The rise in outsourcing is a positive development for the research antibodies and reagents market.
By outsourcing the development and production of antibodies and reagents, companies can reduce costs, increase efficiency, access expertise, and increase flexibility, thus creating opportunities in the research antibodies and reagents market, according to the report.
An increasing number of local players in emerging markets, such as China, India, and Mexico, are offering their research antibodies and reagent products at lower prices than established market players.
As a result, the pricing pressure on established players has increased, who are being compelled to adopt competitive pricing strategies to maintain their market shares and this is challenging market growth.
