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Genzyme has agreed to sell its diagnostics business to Japan’s Sekisui Chemical for $265 million. With 2009 sales of $167 million, the business provides raw materials, enzymes, chemistry reagents, and rapid tests used to make diagnostics for various diseases. It’s one of three businesses that Genzyme put up for sale in May. Three months later, Genzyme turned down a takeover offer by Sanofi-Aventis. Sekisui has supplied diagnostic raw materials to Genzyme since 1995.
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