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	<title>Symptom Advice .com &#187; 10 percent</title>
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		<title>Hologic to buy Gen-Probe for about $3.72B</title>
		<link>http://symptomadvice.com/hologic-to-buy-gen-probe-for-about-3-72b/</link>
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		<pubDate>Fri, 18 May 2012 08:17:22 +0000</pubDate>
		<dc:creator>Symptom Advice</dc:creator>
				<category><![CDATA[std symptoms]]></category>
		<category><![CDATA[10 percent]]></category>
		<category><![CDATA[cervical cancer]]></category>
		<category><![CDATA[quarter earnings]]></category>
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		<description><![CDATA[Gen-Probe shares soared nearly 19 percent, or $12.86, &#116;&#111; $81.57 in Monday afternoon trading. In contrast, Hologic shares fell &#109;&#111;&#114;&#101; than 10 percent, or $2.20, &#116;&#111; $19.03. The announcement &#099;&#097;&#109;&#101; &#116;&#104;&#101; same day &#116;&#104;&#101; companies posted quarterly financial results. Bedford, Mass.-based Hologic reported a net loss &#111;&#102; $40.3 million, or 15 cents per share, in [...]]]></description>
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<p>Gen-Probe shares soared nearly 19 percent, or $12.86, &#116;&#111; $81.57 in Monday afternoon trading. In contrast, Hologic shares fell &#109;&#111;&#114;&#101; than 10 percent, or $2.20, &#116;&#111; $19.03.</p>
<p>The announcement &#099;&#097;&#109;&#101; &#116;&#104;&#101; same day &#116;&#104;&#101; companies posted quarterly financial results. Bedford, Mass.-based Hologic reported a net loss &#111;&#102; $40.3 million, or 15 cents per share, in its fiscal second quarter as expenses rose. Gen-Probe, based in San Diego, reported a 3 percent decline in its first-quarter earnings.</p>
<p>Hologic &#115;&#097;&#105;&#100; &#116;&#104;&#101; acquisition &#111;&#102; Gen-Probe will establish it as a premier company in STD diagnostics.</p>
<p>Diagnostics tools will play a growing role in &#116;&#104;&#101; future &#111;&#102; medicine because &#116;&#104;&#101;&#121; provide a &#119;&#097;&#121; &#102;&#111;&#114; doctors &#116;&#111; identify and address problems at an early stage, &#098;&#101;&#102;&#111;&#114;&#101; &#116;&#104;&#101;&#121; becomes &#109;&#111;&#114;&#101; difficult and expensive &#116;&#111; treat, &#115;&#097;&#105;&#100; analyst Steve Brozak, president &#111;&#102; WBB Securities. He noted, &#102;&#111;&#114; instance, &#116;&#104;&#097;&#116; Gen-Probe makes a test &#102;&#111;&#114; &#116;&#104;&#101; human papillomavirus, which leads &#116;&#111; cervical cancer.</p>
<p>He also noted &#116;&#104;&#097;&#116; &#109;&#097;&#110;&#121; people &#119;&#104;&#111; have &#116;&#104;&#101; STD chlamydia don’t &#115;&#104;&#111;&#119; symptoms or &#107;&#110;&#111;&#119; &#116;&#104;&#101;&#121; have it. Diagnostic testing, he &#115;&#097;&#105;&#100;, “is &#116;&#104;&#101; &#111;&#110;&#108;&#121; reasonable vehicle &#102;&#111;&#114; addressing &#116;&#104;&#097;&#116; type &#111;&#102; problem.’’</p>
<p>Because &#111;&#102; &#116;&#104;&#105;&#115; expected growth in demand &#102;&#111;&#114; diagnostics, Hologic had “no choice’’ &#098;&#117;&#116; &#116;&#111; make &#116;&#104;&#105;&#115; deal, &#116;&#104;&#101; analyst &#115;&#097;&#105;&#100;.</p>
<p>Last year, instrument maker Thermo Fisher Scientific Inc. agreed &#116;&#111; spend about $3.5 billion in cash &#102;&#111;&#114; &#116;&#104;&#101; privately held Swedish company Phadia, which makes blood test systems &#102;&#111;&#114; allergy and auto-immune diseases. Medical and industrial instruments maker Danaher Corp. also agreed &#116;&#111; buy Beckman Coulter Inc. &#102;&#111;&#114; about $5.87 billion. Beckman Coulter makes products &#116;&#104;&#097;&#116; simplify and automate biomedical testing.</p>
<p>Hologic &#115;&#097;&#105;&#100; it expects &#116;&#104;&#101; addition &#111;&#102; Gen-Probe &#116;&#111; boost its adjusted earnings by about 20 cents in &#116;&#104;&#101; &#102;&#105;&#114;&#115;&#116; fiscal year &#097;&#102;&#116;&#101;&#114; &#116;&#104;&#101; deal closes and significantly &#109;&#111;&#114;&#101; &#097;&#102;&#116;&#101;&#114; &#116;&#104;&#097;&#116;. &#116;&#104;&#101; companies expect &#116;&#104;&#101; deal &#116;&#111; close in &#116;&#104;&#101; second half &#111;&#102; &#116;&#104;&#105;&#115; year.</p>
<p>Hologic’s loss in &#116;&#104;&#101; quarter &#116;&#104;&#097;&#116; &#101;&#110;&#100;&#101;&#100; March 24 compares &#116;&#111; net income &#111;&#102; $82.4 million, or 31 cents per share, in &#116;&#104;&#101; same quarter a year ago. Revenue climbed &#109;&#111;&#114;&#101; than 7 percent &#116;&#111; $471.2 million, &#098;&#117;&#116; costs and expenses jumped 63 percent &#116;&#111; $461 million.</p>
<p>Adjusted earnings, which exclude &#115;&#101;&#118;&#101;&#114;&#097;&#108; one-time charges and gains, &#119;&#101;&#114;&#101; 33 cents per share.</p>
<p>Analysts expected Hologic &#119;&#111;&#117;&#108;&#100; earn 33 cents per share &#111;&#110; revenue &#111;&#102; $474 million, according &#116;&#111; a FactSet survey.</p>
<p>In its earnings report, Gen-Probe &#115;&#097;&#105;&#100; its first-quarter net income fell &#116;&#111; $22.5 million, or 49 cents per share. Total revenue grew 7 percent &#116;&#111; $153.4 million, and adjusted earnings &#119;&#101;&#114;&#101; 55 cents per share.</p>
<p>Analysts expected adjusted earnings &#111;&#102; 51 cents per share &#111;&#110; $150.7 million in revenue &#102;&#114;&#111;&#109; Gen-Probe.</p>
<p>AP Business Writer Bree Fowler contributed &#116;&#111; &#116;&#104;&#105;&#115; report &#102;&#114;&#111;&#109; &#110;&#101;&#119; York.</p></p>
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