PerkinElmer to Buy BioLegend to Boost Antibodies Portfolio

PerkinElmer is expanding its portfolio of antibodies and reagents through the acquisition of BioLegend for about $5.25 billion.

The purchase, which is expected to close by the end of this year, will expand PerkinElmer’s life sciences division into new areas at the BioLegend complex in San Diego, Calif.

BioLegend is privately held, with more than 700 employees and projected 2022 revenues of $380 million. PerkinElmer, which has approximately 14,000 employees, had revenues of $3.8 billion in 2020.

BioLegend CEO Gene Lay said the acquisition will allow the San Diego company to expand into “new and highly attractive PerkinElmer areas.”