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BioSource Has Plans for Acquisitions

August 22, 1995|Jack Searles

BioSource International Inc., a Camarillo maker of test kits used by the biotechnology industry, expects acquisitions to account for an increasing portion of its growth.

"We're very hot on the acquisition trail," Jim Chamberlain, chairman and chief executive, told Bloomberg Business News.

Chamberlain said BioSource is holding talks with several companies, "and I think we are getting close to buying at least one, if not more, in the next six to 12 months."

BioSource hopes to acquire a firm that is using DNA research to develop medicines, Chamberlain added. He said his company wants to pay for acquisitions with stock rather than cash to reduce taxes for the sellers.

BioSource also will continue to acquire rights to sell biomedical research products developed by other companies, Chamberlain said.

BioSource's leading products are kits used to detect proteins found in blood or serum samples that serve as indicators of specific diseases.

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