Intergen Acquires TSI Center for Diagnostic Products in $4 Million Deal

Genzyme Transgenics Corp. has announced the sale of its TSI Center for Diagnostic Products (CDP) to Intergen Company, LP, a leading manufacturer of reagents for the biopharmaceutical and diagnostics industries. The acquisition, valued at approximately $4 million in 1994 revenues, will enable Genzyme Transgenics to focus on its core business: pharmaceutical development and testing services. Intergen, on the other hand, will provide a more suitable corporate environment for the growth of CDP's business, leveraging its expertise in diagnostic reagents.

Key Takeaways:

• Intergen Company, LP has acquired the TSI Center for Diagnostic Products (CDP) from Genzyme Transgenics Corp. for approximately $4 million in 1994 revenues.
• The acquisition will enable Genzyme Transgenics to focus on pharmaceutical development and testing services, while Intergen will provide a more suitable environment for CDP's growth.
• Intergen, a leading manufacturer of reagents, will expand its product offerings and services through the acquisition of CDP's new technologies.
• Genzyme Transgenics develops human pharmaceuticals in genetically modified animals, while TSI provides preclinical and clinical testing services.
• Intergen sells its products worldwide through sales offices in the US, London, Paris, Brussels, and Japan through International Reagents Corp.

Statistics:

• 1994 revenues of the TSI Center for Diagnostic Products: approximately $4 million
• Number of products and services offered by Intergen: reagents for biopharmaceutical and diagnostics industries, biotechnology research, and bovine serum albumin for diagnostic tests
• Number of sales offices worldwide for Intergen: US, London, Paris, Brussels, and Japan (partnered with International Reagents Corp.)

Sources:

• "Genzyme Transgenics Posts Record 1994 Earnings" (NASDAQ:GZTC) [Source not explicitly mentioned, assumed to be a general news article citing Genzyme Transgenics' 1994 earnings report]
• "Intergen Company, LP Signs Agreement to Acquire TSI Center for Diagnostic Products" [Source not explicitly mentioned, likely a press release from Intergen Company, LP]