France's BioMérieux jumps on acquisition of Norwegian SpinChip

Biomerieux SA

13/01/2025 08:50

** Shares in French in-vitro diagnostics firm BioMérieux
 BIOX.PA  rise as much as 6% to their highest level since early
September, after it agreed to buy its Norwegian counterpart
SpinChip for 111 million euros ($113.5 million) in cash
    ** RBC analysts say the deal expands the company's presence
in point-of-care setting, which aligns with its strategy
    ** "This provides opportunity for growth in immunoassay
sales beyond 2028, which we currently expect to remain broadly
flat across 2024-28," the analysts add in the note
    ** They say that given its low levels of leverage,
BioMérieux could have a further "circa 3 billion euro of
firepower" to deploy via M&A in 2025
    ** At 0838 GMT, the stock is up 4.8%, outperforming France's
SBF 120 index  .SBF120 
    ** It is on track for its best day since late August if the
gains hold
    ** Out of 16 analysts that cover BioMérieux, 13 rate the
stock "strong buy" or "buy", ​two "hold" and one "sell"

($1 = 0.9784 euros)

 (Reporting by Mateusz Rabiega)
 ((Mateusz.rabiega@thomsonreuters.com;))