News & Events

Franklin Lakes, NJ (April 10, 1997) -- Becton Dickinson and Company, a global medical technology corporation, announced today the signing of a definitive agreement to acquire PharMingen, a California-based manufacturer of products for biomedical research.

Becton Dickinson (NYSE: BDX) and privately-held PharMingen expect to complete the acquisition for an undisclosed amount of cash following receipt of various approvals and clearances.

Deborah Neff, president of Becton Dickinson Immunocytometry Systems (BDIS) in San Jose, California, said "The acquisition of PharMingen is part of our worldwide business strategy to broaden the horizon of health care through enhancements of flow cytometry systems, software and reagent technology. Our customers demand faster, more cost-effective systems for discovery and diagnosis. With the strategic acquisition of PharMingen, we believe we can help our customers diagnose and monitor immunological diseases more efficiently, and study
the complex characteristics of cancer."

PharMingen develops, manufactures and sells high quality antibodies and reagents for immunology, cell biology, and molecular biology research. Through aggressive internal product development programs and technology licensing efforts, PharMingen has introduced more than 2,500 products in the 10 years since the company was founded. The company of 260 employees is headquartered in San Diego, with offices in Hamburg, Germany and Mississauga (Ontario), Canada. Sales for the company's fiscal year ending June 30, 1997 are estimated to be about $30 million.

"By joining with Becton Dickinson, PharMingen gains immediate access to integrated, advanced instrument systems and applications," said Ernest Chun-Ming Huang, founder and president of PharMingen. "Through the synergy of innovation, technology and service from both companies,
we strengthen our customer relationships and offer a broader array of cell analysis products for researchers and clinicians."

Becton Dickinson pioneered leading-edge cell analysis in 1973 with the introduction of FACS, the first commercially available fluorescence-activated cell sorter. Since then, the company has become the worldwide leader in flow cytometry systems for both the research and clinical markets. Included in the company's product line are sophisticated flow cytometers and cell sorters, advanced applications and data management software, and a wide range of reagents that allows users to analyze, isolate and characterize immune cells from blood and tissue.

Becton Dickinson and Company manufactures and sells a broad range of medical supplies and devices and diagnostic systems for use by health care professionals, medical research institutions and the general public. For the fiscal year ended September 30, 1996, Becton Dickinson had total operating revenues of $2.8 billion and net income of $283 million. Headquartered in San Jose, California, BDIS is one of Becton Dickinson's seven worldwide businesses.