Qiagen Completes SAB Buy; Added to Nasdaq-100

NEW YORK (GenomeWeb News) – Qiagen has completed its acquisition of SABiosciences, a privately held developer of disease- and pathway-focused PCR assay panels, for around $90 million.

Qiagen announced the deal in early November, saying at that time that it expects SABiosciences' products to be highly synergistic with its September acquisition of UK-based companion diagnostics firm DxS.

SABiosciences employs around 100 people and its primary product family includes more than 100 real-time PCR assay panels for analyzing DNA, RNA, epigenetic, and microRNA targets in biological pathways associated with specific diseases such as cancer, diabetes, and immune and cardiovascular disorders; as well as with pathways such as apoptosis, signal transduction, and toxicology.

Qiagen said that it expects SABiosciences to add $24 million in sales in 2010. It also said that it expects to incur charges of roughly $.02 in earnings per share related to costs and expenses associated with the acquisition. Qiagen also expects the acquisition to be significantly accretive to its adjusted EPS in 2011.

In a separate announcement today, Qiagen said that it has been added to the Nasdaq-100 Index, effective Dec. 21. The Index includes the top 100 non-financial securities listed on the Nasdaq stock market based on market capitalization.