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Medical equipment industry

BioWhittaker Announces Non-Binding Letter of Intent for Diagnostic Test Kit Product Line Sale

Strategic Insights

— 1 min read

BioWhittaker, Inc., a leading manufacturer of biotechnology and biopharmaceutical supply products, has taken a significant step towards refocusing its resources on its core business. The Company has executed a non-binding letter of intent with Wampole Laboratories, a division of Carter-Wallace, Inc., to sell its diagnostic test kit product line. This strategic move aligns with BioWhittaker's goal of concentrating on its most profitable areas, while ensuring continued quality service and product supply to its customers.

Key Takeaways:

  • BioWhittaker has agreed to sell its diagnostic test kit product line, including infectious and autoimmune tests in the ELISA and FIAX formats, in a non-binding letter of intent with Wampole Laboratories.
  • The product line accounted for approximately $13 million of BioWhittaker's sales in fiscal 1994, demonstrating its significant contribution to the Company's revenue.
  • The proposed sale is aimed at allowing BioWhittaker to focus on its core biotechnology and biopharmaceutical supply business, while ensuring continued quality products and service for its customers.
  • BioWhittaker will work with Carter-Wallace to provide smooth transition of products and support if the transaction is completed.
  • Carter-Wallace has an excellent reputation, and the partnership will enable BioWhittaker to leverage its expertise and resources.
  • The sale aligns with BioWhittaker's strategy to concentrate on its most profitable areas and optimize its resources.
  • The Company has a long history of developing and manufacturing innovative products, including cell culture and endotoxin detection products, sold to over 5,000 customers in 47 countries.

Statistics:

  • The diagnostic test kit product line generated approximately $13 million in sales for BioWhittaker in fiscal 1994.
  • BioWhittaker manufactures over 1,500 products for healthcare and biotechnology applications, with a primary focus on cell culture and endotoxin detection products.
  • The Company has over 5,000 customers in 47 countries, demonstrating its global reach and presence in the industry.

Sources:

  • "BioWhittaker Announces Non-Binding Letter of Intent for Diagnostic Test Kit Product Line Sale," PR Newswire, July 31, 1995.

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