Gen-Probe Trumps Solvay In Bid For Innogenetics

Gen-Probe, a developer of nucleic acid diagnostics for human disease, has launched a bid to acquire Innogenetics, a Belgian molecular diagnostics firm, for $334 million. The offer competes with a deal announced in April by Solvay to acquire Innogenetics for about $280 million. Solvay currently owns 7% of Innogenetics. A Gen-Probe acquisition would create the world's largest stand-alone molecular diagnostics company, with annual sales in excess of $500 million, according to Gen-Probe. A Solvay official tells C&EN that the company "is currently analyzing the new situation and evaluating all the options."