Shares of medical diagnostics test maker Gen-Probe Inc (GPRO.O) were down more than 12 percent after a published report said Swiss drugmaker Novartis AG (NOVN.VX) appeared to be the last bidder for the company and suggested that a deal might not go through at all. While Novartis, which has a blood-testing partnership with Gen-Probe, has been seen as the front-runner for the company since reports that Gen-Probe was looking to sell itself appeared in April, the Wall Street Journal said in a story on its website that other likely contenders were no longer in the running. "Other bidders ... including Life Technologies Corp (LIFE.O) and Thermo Fisher Scientific Inc (TMO.N) are now on the sidelines," the Journal said, citing people familiar with the matter. A Gen-Probe spokesman was not immediately available to comment on the Journal report or the drop in its share price.
Gen-Probe Incorporated (Gen-Probe) is engaged in the development, manufacture and marketing molecular diagnostic products and services, which are used to diagnose human diseases, screen donated human blood, and ensures transplant compatibility. Shares of GPRO fell by 12.15% or $-9.93/share to $71.83. In the past year, the shares have traded as low as $42.00 and as high as $86.96. On average, 530008 shares of GPRO exchange hands on a given day and today's volume is recorded at 4411973.
Life Technologies Corporation (Life Technologies) is a global life sciences company. Shares of LIFE traded higher by 1.19% or $0.6/share to $50.93. In the past year, the shares have traded as low as $41.10 and as high as $57.25. On average, 1998380 shares of LIFE exchange hands on a given day and today's volume is recorded at 2612918.
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO fell by 0.16% or $-0.1/share to $62.7. In the past year, the shares have traded as low as $41.74 and as high as $65.82. On average, 3149260 shares of TMO exchange hands on a given day and today's volume is recorded at 1007593.
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