Genzyme, of course, announced some time ago that it was actively trying to sell its diagnostic unit and the genetics testing unit -- in addition to last week's announcment that it will be cutting 1000 jobs. It looks like it has found a taker for the the genetics testing business with Labcorp for an announced price of $925 M. See stories in Xconomy, Fierce Biotech and WSJ for more.
LabCorp reports that it has plans to expand in the oncology and reproductive testing areas served by Genzyme's business and is also committed to retaining the group's 1900 employees.
Posted by Bruce Lehr September 13th 2010.
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