HQ Team
July 23, 2024: Agilent Technologies Inc., will acquire Canada-based Biovectra, a contract development and manufacturing company, for $925 million, according to a company statement.
The US, California-headquartered Aglient will add to its portfolio of oligonucleotides — short DNA or RNA molecules, oligomers, with a wide range of applications in genetic testing, research, and forensics — and CRISPR gene editing technology.
Biovectra reported revenue of $113 million in revenue during 2023 and expects double-digit revenue growth in 2024.
Agilent expects that the acquisition will be $0.05 dilutive to non-GAAP EPS in the first full year after closing. Agilent will fund the transaction using a mix of cash on hand and debt financing.
Close by 2025
The deal is expected to close before 2025 when Biovectra will become part of the Agilent Diagnostics and Genomics Group.
Biovectra’s manufacturing capabilities would expand Agilent’s end-to-end biopharma offerings that integrate analytical instrumentation, consumables, and a wide range of lab services, said Agilent President and CEO Padraig McDonnell.
The Candian company supports early-stage clinical development to large-scale commercial manufacturing. The company currently serves biotech and pharmaceutical companies in North America and Europe.
It produces biologics, highly potent active pharmaceutical ingredients, and other molecules for targeted therapeutics.
The San Jose-based Agilent Technologies is a provider of analytical and clinical laboratory technologies. Its services include instruments, software and services. The company’s revenue stood at $6.83 billion in fiscal 2023 and employs approximately 18,000 people worldwide.
Eco-friendly
The global oligomers market is poised to achieve a notable compound annual growth rate of approximately 4.5% from 2024 to 2030, according to Research Corridor.
Oligomers serve as essential constituents in coatings and adhesives, witnessing widespread utilization in sectors such as pharmaceuticals, construction, automotive, packaging and electronics.
With increasing environmental apprehensions, there is a rising preference for eco-friendly and low-volatile organic compound formulations, wherein oligomers assume a pivotal role in the development of sustainable products.
As industries strive to address environmental concerns and meet evolving regulatory standards, the demand for oligomers in eco-conscious formulations continues to grow, driving the expansion of the global oligomers market.
The global CRISPR Technology market reached $3.3 billion in 2022 and should reach $9.2 billion by 2027, with a compound annual growth rate of 22.3% during the forecast period of 2022-2027, according to BCC Research.
