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Sigma-Aldrich to Sell Diagnostics Business

By HospiMedica staff writers
Posted on 06 May 2002
Following declining sales in its diagnostics business coupled with a failure to meet expectations, Sigma-Aldrich Corp. More...
(St. Louis, MO, USA) has decided to discontinue this business. Certain items have been reclassified out of diagnostics and into the company's scientific research unit, but all remaining assets are for sale. The diagnostics business had sales of around US$65 million in 2001.

At the beginning of 2000, Sigma-Aldrich began to refocus the diagnostics business on niche opportunities, with a three-year plan to restore it contribution toward overall company targets of 10% growth in sales and profits. However, this growth never materialized and sales declined.

Just a month ago, Sigma-Aldrich announced the signing of a nonbinding letter of intent to sell its enzyme immunoassay (EIA) product line to Ivax Diagnostics, Inc. (Miami, FL, USA) for an undisclosed amount. This product line represented less than 10% of the diagnostic's business sales. Sigma-Aldrich supplies biochemical and organic chemical products and kits used in scientific and genomic research, biotechnology, pharmaceutical development, and chemical manufacturing. The company operates in 33 countries around the world.




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