Bio-Rad announces $500M share repurchase program

Bio-Rad Laboratories (NYSE: BIO) + announced that its board of directors approved a new share repurchase program.

The program grants the company authority to repurchase up to $500 million in outstanding shares of its common stock.

“The new share buyback authorization is consistent with our disciplined approach and demonstrates our continued commitment to using this tool as part of our capital allocation strategy,” said Norman Schwartz, Bio-Rad CEO.

Bio-Rad previously announced on June 5 that it completed the repurchase of all of its common stock. This came under authorization from a previous share repurchase program approved by the company’s board.

According to a news release, the company may make repurchases at management’s discretion from time to time in the open market. They can also take place through privately negotiated transactions under the terms of the new repurchase program. Th…

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Bio-Rad acquires curiosity diagnostics for up to $170M

Bio-Rad Laboratories (NYSE:BIO) announced that it agreed to acquire all outstanding shares of Curiosity Diagnostics.

Hercules, California-based Bio-Rad bought Curiosity Diagnostics from Scope Fluidics, a Warsaw, Poland-based developer of technologies for the medical diagnostic and healthcare markets, for a total consideration of up to $170 million.

The acquisition consists of approximately $100 million in cash, with up to $70 million in future milestone payments, according to a news release.

“We are excited to have the Curiosity Diagnostics team join Bio-Rad’s Clinical Diagnostics Group and to work closely together to bring a new generation of rapid PCR systems to market,” Dara Wright, Bio-Rad’s EVP and president, clinical diagnostics group, said in the release. “Curiosity’s PCR platform, PCR|ONE, offers a streamlined workflow and rapid turnaround times, and is expected to extend our reach beyond high-complexity labs into near-patient molecular diagnosti…

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