EUROIMMUN Medizinische Labordiagnostika AG
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Roche Diagnostics is promising a €400m investment at the site in Bavaria that has developed its new COVID-19 antibody test kits, three million of which will be delivered to German health care professionals in May.
Device fundraising during the fourth quarter totaled $2.6 billion, making it the strongest quarter of the year. Q4 M&A activity reached $3.9 billion, higher than Q3's $3.4 billion, but still one of the lowest quarters of the year. Both fourth quarter diagnostics financings and M&As hit an all-year low of $622 million, and $2.8 million, respectively.
If the beginning of 2017 was marked by doubts around whether and how the FDA would act with respect to complex diagnostics, we enter 2018 feeling that slow-moving vessel may finally be turning.
Device and diagnostics fundraising slumped in Q2, but there was a substantial uptick in M&A activity. Device financings totaled just slightly over half of the previous quarter, while acquisitions grew almost six-fold, thanks primarily to Becton Dickinson's $23.5 billion play for CR Bard. Financing in diagnostics slid to $1.03 billion, less than half of Q1, whereas the $1.7 billion in M&As (most of that from PerkinElmer's $1.3 billion buy of EuroImmun) was more than double Q1's aggregate.
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