PerkinElmer to acquire BioLegend

UNDATED (AP) — PerkinElmer will spend about $5.25 billion to acquire BioLegend, which makes antibodies used in gene therapy and reagents for drug discovery. The Waltham (WAHL’-tham), Massachusetts, company says it will pay cash and stock for the privately held BioLegend in a deal expected to close by the end of the year. PerkinElmer sells testing equipment and scientific instruments. It estimates that BioLegend will generate $380 million in revenue next year. BioLegend has more than 700 employees based mostly in the United States. Its products are used in research areas like immunology, oncology and neuroscience.