Navigation Links
Gen-Probe Borrows $170 Million Under New Line of Credit
Date:3/2/2009

SAN DIEGO, Calif., March 2 /PRNewswire-FirstCall/ -- Gen-Probe Incorporated (Nasdaq: GPRO) announced today that it is borrowing $170 million under a newly issued line of credit to finance its pending acquisition of Tepnel Life Sciences PLC and other general corporate activities, including its existing share repurchase program.

The Company will pay interest on the one-year, $180 million revolving credit facility, provided by Bank of America, at a floating rate 0.6 percent above the one-month London Interbank Offered Rate (LIBOR), which was approximately 0.5 percent earlier today.

"In today's difficult economic environment, Gen-Probe's strong balance sheet and cash flow enable us to access external liquidity more cost-effectively than if we were to sell assets from our own short-term investment portfolio, which totaled $505 million at year-end and currently yields 2.9% on an after-tax basis," said Herm Rosenman, the Company's senior vice president, finance, and chief financial officer.

About Gen-Probe

Gen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective nucleic acid tests (NATs) that are used primarily to diagnose human diseases and screen donated human blood. Gen-Probe has more than 25 years of NAT expertise, and received the 2004 National Medal of Technology, America's highest honor for technological innovation, for developing NAT assays for blood screening. Gen-Probe is headquartered in San Diego and employs approximately 1,000 people. For more information, go to www.gen-probe.com.

Caution Regarding Forward-Looking Statements

Any statements in this press release relating to expectations, beliefs, plans, objectives, assumptions
'/>"/>

SOURCE Gen-Probe Incorporated
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Gen-Probe to Webcast Presentation at Bank of Americas 37th Annual Investment Conference
2. Gen-Probe Reports Strong Financial Results for Third Quarter 2007, Raises Full-Year Guidance for Earnings Per Share and Total Revenues
3. Gen-Probe to Webcast Three Upcoming Presentations
4. Gen-Probe Announces Webcast of Fourth Quarter and Full Year 2007 Earnings Conference Call
5. Carl Hull Named President and Chief Operating Officer of Gen-Probe
6. Gen-Probe Reports Strong Financial Results for Fourth Quarter and Full Year 2007
7. Gen-Probe to Webcast Presentations at Lehman and Cowen Healthcare Conferences
8. Gen-Probe to Webcast Presentation at Morgan Stanley Global Healthcare Unplugged Conference
9. Gen-Probe Reports Strong Financial Results for First Quarter 2008, Raises Full-Year Guidance
10. Gen-Probe to Webcast Presentation at Deutsche Bank 33rd Annual Health Care Conference
11. Lucy Shapiro, Ph.D., Elected to Gen-Probe Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/21/2014)... St. Louis, MO (PRWEB) August 21, 2014 ... premier, full service biopharmaceutical contract development and manufacturing ... selected by Progenics Pharmaceuticals, Inc., an oncology company ... targeting and treating cancer, to manufacture the anti-prostate ... Progenics’ PSMA ADC product candidate. Under the ...
(Date:8/20/2014)... inventions licensed to biotechnology firms has revealed early ... these roadblocks, the researchers suggest that better communication ... could lead to faster commercialization down the road. ... made in university laboratories and licensed to biotechnology ... which have a high failure rate. But a ...
(Date:8/20/2014)... 20, 2014 High performance computing ... the most complete climate and Earth system model ... change issues. , Eight national laboratories, including ... National Center for Atmospheric Research, four academic institutions ... Other participating national laboratories include Argonne, Brookhaven, Lawrence ...
(Date:8/20/2014)... Not long ago, it was more or ... late in the development cycle – even after the ... suggest that, like many things GxP, expectations for early ... multiple drug sponsors have been required by authorities to ... phase I/II. It’s not only clinical trial material containers ...
Breaking Biology Technology:Gallus Enters Agreement with Progenics Pharmaceuticals, Inc. for Manufacture of Anti-PSMA Monoclonal Antibody 2Gallus Enters Agreement with Progenics Pharmaceuticals, Inc. for Manufacture of Anti-PSMA Monoclonal Antibody 3Early bottlenecks in developing biopharmaceutical products delay commercialization 2Early bottlenecks in developing biopharmaceutical products delay commercialization 3New Project Is the ACME of Addressing Climate Change 2New Project Is the ACME of Addressing Climate Change 3Are Extractable and Leachables going Phase-Appropriate? New Webinar Hosted by Xtalks 2
... Sept. 16 Martek Biosciences (Nasdaq: MATK ) today ... Directors. , , Mr. Pernock brings ... products, having served from 1994 to 2009 in a variety of ... companies. In his most recent executive role, Mr. Pernock served as ...
... , HEIDELBERG, Germany, September 16 ... Proteomics Approach Identifies new,Potential Drug Targets in Wnt Pathway , ... "Tankyrase inhibition,stabilizes axin and antagonizes Wnt signalling"** is now available ... how Cellzome,s quantitative chemical proteomics,platform was used to identify a ...
... , , SAN ... ) announced today that Kevin Gorman, President and Chief Executive Officer ... Sciences Conference in New York. , , ... p.m. Eastern Time (ET)/10:00 a.m. Pacific Time (PT). The presentation ...
Cached Biology Technology:Martek Announces Addition to Its Board of Directors 2Cellzome Technology Used to Unravel Novel Regulatory Mechanism in Cancer Signaling Pathway 2
(Date:8/20/2014)... honeybees grows to about 4,000 members, it triggers an ... of a special type of comb used for rearing ... the Department of Neurobiology and Behaviour at Cornell University, ... cycle of honeybee colonies. The results are published in ... . , Reproduction isn,t always a honeybee colony,s ...
(Date:8/19/2014)... decrease China,s increasing caesarean section rate, suggests a new ... International Journal of Obstetrics and Gynaecology (BJOG) . , ... in the world. Of 16 million babies born in ... rate is not known, the current Chinese language literature ... ranging from 36% to 58%. However, before the 1980s, ...
(Date:8/19/2014)... It,s not a monkey. It,s not a lemur. It,s ... Meet the Philippine tarsier: a tiny, adorable and downright "cool" ... animals that Americans are familiar with," said Rafe Brown, curator-in-charge ... giant eyes and ears; an extremely cute, furry body; a ... interesting expanded fingers and toe tips that look a bit ...
Breaking Biology News(10 mins):Worker bees 'know' when to invest in their reproductive future 2Is China's 50 percent cesarean section delivery rate too high? 2Is China's 50 percent cesarean section delivery rate too high? 3Philippine tarsier gets boost from Kansas research, and genetic proof of a new variety 2Philippine tarsier gets boost from Kansas research, and genetic proof of a new variety 3
... University may make a difference one day at the gas ... organic compound on earth, has enough energy to be the ... break it down could be devised. Cellulose is a cell ... assistant professor in Kansas State University,s Division of Biology, has ...
... available in Spanish . Hake is ... and, nevertheless, resists stock depletion relatively well. At times nature ... Nerea Goikoetxea, a researcher at Azti-Tecnalia, has been witness to ... European hake population, observing which environment has favoured the species ...
... While highly potent embryonic stem cells are often the subject of ... we age, our stem cells are less pliant and less able ... breakthrough treatments for disease. An exception to this can be ... lines the inside of our mouths. These cells do not seem ...
Cached Biology News:Learning secrets of world's most common organic compound driving research for biofuels 2Hake population has withstood overfishing, thanks to the warming of the sea 2Hake population has withstood overfishing, thanks to the warming of the sea 3'Open wide' for new stem cell potential 2'Open wide' for new stem cell potential 3
cDNA Size Fractionation Columns offer an efficient and convenient method for size-fractioning double-stranded cDNA....
... delivery of buffer and fixative results ... version. In Vivo Manual Perfusion Fixation ... of buffer and fixative results in ... use and clean--Complete system with everything ...
... your 35mm dish without transferring to ... has separate openings for solution inflow ... of the liquid level in the ... entering the chamber. An adjustable metal ...
Sf21 cells derived from Spodoptera frugiperda ovarian cells are recommended for high-level production of recombinant proteins. Higher expression levels of some proteins are seen due to the larger ce...
Biology Products: