Bio-Techne Corp

Bio-Techne Corporation shareholders voted on September 23 to approve the company's acquisition by Merck KGaA of Darmstadt, Germany, while rejecting the executive compensation proposal attached to the deal. The German group is paying $73 a share in cash, valuing the business at about $11.3 billion including debt. The shares closed at $72.57 on September 24, which is 43 cents below what the buyer has agreed to pay. The antitrust waiting period in the United States expired on September 18, removing the hurdle that most often delays a transaction of this kind, and Bio-Techne expects the deal to complete in late 2026 or early 2027 subject to the remaining approvals. The rejected pay vote is advisory rather than binding, so the payments proceed regardless, but it signals that owners felt the split between what they receive and what executives receive was wrong.

Bio-Techne Corporation reported a net profit of $54.622 million, or $0.35 per share, for the fourth quarter of fiscal 2026, reversing a net loss of $17.677 million, or $0.11 per share, a year earlier. Total operating expenses fell to $137.117 million from $222.672 million, while net sales rose to $321.191 million from $316.964 million. Excluding items, earnings were $82.436 million, or $0.52 per share, slightly below the prior-year's $82.472 million, or $0.53 per share.

Merck KGaA raised its full-year 2026 guidance after reporting accelerating organic sales and earnings growth in the second quarter, driven by its Life Science and Electronics segments. Group organic sales rose 4.1 percent, while EBITDA pre increased 9.3 percent organically to 1.6 billion euros. The company now expects 2026 organic sales growth of 1 to 3 percent, EBITDA pre of 5.9 to 6.3 billion euros, and EPS pre of 7.90 to 8.60 euros. Life Science organic sales grew 8 percent, led by a 15 percent increase in Process Solutions, and Electronics organic sales jumped 11.7 percent on strong semiconductor demand for AI and data-center applications. Healthcare organic sales declined 3.4 percent due to U.S. competition and the loss of Mavenclad exclusivity, though rare-disease products contributed positively. Merck also confirmed it remains on track to acquire Bio-Techne by the end of 2026 or early 2027, expecting about 140 million euros in annual cost synergies by the third year after closing.

Conestoga Capital Advisors highlighted Bio-Techne Corporation as a performance contributor in its second-quarter 2026 investor letter, citing growing confidence that temporary headwinds are subsiding. The life science research tools and diagnostics company benefited from improving academic funding and continued strength in large pharmaceutical customers, which offset lingering weakness in emerging biotech. During the quarter, Bio-Techne agreed to be acquired by Merck KGaA. As of August 5, 2026, Bio-Techne shares closed at $72.00, giving it a market capitalization of $11.22 billion, with a one-month return of 1.19% and a 52-week gain of 43.57%.

Healthcare M&A deal volume fell in the second quarter of 2026, with 459 publicly announced transactions, down from 553 in Q1:26 and a 23% decline from 503 deals in Q2:25, according to LevinPro HC data. Disclosed spending climbed to $95.3 billion across 78 transactions, nearly tripling the $28.7 billion recorded in Q2:25 and outpacing Q1:26’s $74.7 billion, driven by 21 mega-deals exceeding $1 billion. Physician Medical Group led activity with 106 deals, while eHealth was the most active healthcare technology sector with 58 deals. Private equity deal volume held steady at 151 transactions, increasing its market share to 33% from 27% in Q1:26. The largest deal was Sun Pharmaceutical Industries’ $11.75 billion acquisition of Organon & Co., followed by Merck’s $11.3 billion purchase of Bio-Techne Corporation.

The S&P 500 Health Care Index Sector jumped 7.48% during the week, driven by major dealmaking and legal victories. Merck KGaA agreed to acquire Bio-Techne for $73 per share in cash, valuing the deal at an enterprise value of approximately $11.3 billion, a 36% premium that sent Bio-Techne shares up more than 20%. AbbVie announced an all-cash acquisition of Apogee Therapeutics at $135.11 per share, a total equity value of about $10.9 billion, causing Apogee shares to rally 52%. The U.S. Supreme Court handed Bayer a sweeping 7-2 victory, ruling that federal pesticide regulations shield the company from state-law claims alleging Roundup should have carried a cancer warning, a decision expected to sharply reduce litigation that has cost Bayer more than $10 billion. Eli Lilly entered an R&D and licensing collaboration with China's Abbisko Therapeutics worth up to $1.9 billion, while Novartis and privately held Antares Therapeutics announced a cancer drug development deal also worth up to $1.9 billion.

Bio-Techne shares surged after German science and technology company Merck KGaA announced a definitive agreement to acquire the company for $73 per share in an all-cash transaction. The deal values Bio-Techne at an enterprise value of about $11.3 billion, representing a 24% premium over its previous closing price. Merck’s largest acquisition in over a decade aims to strengthen its position in the life sciences market by adding Bio-Techne’s extensive catalog of recombinant proteins and antibodies. The transaction has been unanimously approved by Bio-Techne’s board, and the stock is now trading near the buyout price, limiting further upside.

This week brought a mix of FDA and EU approvals, layoffs, acquisitions, and clinical trial updates across the biotech sector. Ionis Pharmaceuticals secured FDA approval for TRYNGOLZA as an adjunct therapy for severe hypertriglyceridemia, while Merck received European Commission approval for Keytruda in combination with Padcev as a neoadjuvant treatment for muscle-invasive bladder cancer. Gilead's Trodelvy was cleared by the FDA for first-line metastatic triple-negative breast cancer, and Pfizer's IBRANCE won expanded approval for HR+/HER2+ metastatic breast cancer. Natera gained Japanese approval for its Signatera MRD test in colorectal cancer, and AbbVie's MAVIRET was approved in the EU for both acute and chronic Hepatitis C. Achieve Life Sciences received an FDA Complete Response Letter for its Cytisinicline NDA due to manufacturing deficiencies, though no efficacy or safety issues were raised. ADC Therapeutics announced a 17% workforce reduction as part of a strategic reorganization to focus on its ZYNLONTA lymphoma franchise. In dealmaking, Merck KGaA agreed to acquire Bio-Techne for $73 per share in cash, representing an enterprise value of $11.3 billion, while Ionis inked a licensing deal with Recordati for Zilganersen, an investigational therapy for Alexander disease. Passage Bio and Remix Therapeutics entered an all-stock merger agreement, and Boundless Bio and Serapha Bio also announced an all-stock merger. On the clinical front, IMUNON's Phase 3 OVATION 3 trial passed a safety review, Takeda's Zasocitinib showed superiority over Deucravacitinib in a Phase 3 psoriasis study, and Eledon reported positive long-term kidney transplant data for Tegoprubart. However, Pfizer's Sigvotatug vedotin missed its primary overall survival endpoint in a Phase 3 non-small cell lung cancer study, and MapLight's ML-004 failed to meet its primary endpoint in autism spectrum disorder, though it showed an irritability signal in adolescents. Definium Therapeutics reported positive Phase 3 results for DT120 ODT in major depressive disorder.

BlackBerry shares soared 20% after reporting first-quarter fiscal 2027 revenues of $152.9 million, beating the Zacks Consensus Estimate of $136.1 million. McCormick gained 1.6% after its second-quarter fiscal 2026 adjusted earnings of 80 cents per share exceeded the consensus of 69 cents. Meta Platforms fell 2.7% amid a continued tech slump driven by concerns over AI infrastructure costs. Bio-Techne surged 20.1% after Germany's Merck KGaA agreed to acquire the life sciences company in an $11.3 billion cash deal, boosting takeover optimism, while Merck KGaA jumped 5.3%.

Bio-Techne agreed to be acquired by Merck KGaA for US$73 per share in cash, representing a total enterprise value of approximately US$11.3 billion, a 36% premium to its one-month volume weighted average trading price. The transaction is expected to close by late 2026 or early 2027 and is projected to immediately increase Merck KGaA's profitability, with about EUR 140 million in annual cost savings fully realized by the third year after closing. Separately, Satellos Bioscience will present new data from its SAT-3247 Duchenne muscular dystrophy program at a neuromuscular diseases congress in July, while Kymera Therapeutics accelerated the topline data readout for its atopic dermatitis trial to year-end 2026 from mid-2027. SELLAS Life Sciences is nearing the 80th event trigger for its pivotal phase 3 acute myeloid leukemia trial, with 78 events recorded as of May 11.

Shares of life sciences company Avantor jumped 3.2% in morning trading after Barclays raised its price target and the company formally concluded its CFO transition on June 24, removing a governance concern. The rally was also fueled by growing confidence in the company's Revival turnaround plan and signs that its bioscience and medtech operations are stabilizing, attracting more institutional buyers. Sentiment in the broader life sciences sector was positive after Merck KGaA agreed to acquire Bio-Techne for approximately $11.3 billion. The stock was trading at $10.10, up 4.3% from the previous close.

Several stocks made significant moves in midday trading. Kymera Therapeutics surged 17% after enrolling in a Phase 2b trial for its atopic dermatitis drug KT-621. BlackBerry rallied 20% on better-than-expected fiscal first-quarter results, posting adjusted earnings of 4 cents per share on revenue of $152.9 million. Apple slid nearly 5% after announcing price hikes on MacBooks and iPads, citing growing demand and rising memory and storage costs. AeroVironment fell 4% ahead of its fourth-quarter report next Monday and after disclosing it will restate prior results. Microsoft dropped 3.8% after saying it would raise Xbox console prices by $100 for the 512-gigabyte model and $150 for the 1-terabyte model. Hertz Global declined more than 9% following a 37-million share secondary offering priced at $2.70 per share. Micron soared 15% after third-quarter adjusted earnings of $25.11 per share blew past expectations, with revenue quadrupling to $41.46 billion. Qualcomm gained 8% after nearly doubling its 2029 non-handset revenue projection to $40 billion. Memory stocks also moved higher, with Sandisk jumping 18%, Western Digital rising 7%, and Lam Research adding 5%. Wendy's reversed earlier gains to trade down nearly 3% as retail trader momentum eased. Trip.com shed almost 2% after its fourth-quarter adjusted earnings and revenue missed expectations. Bio-Techne rallied 19.7% after agreeing to be acquired by Merck for $73 per share. Dollar Tree dropped 1.6% after a major shareholder sold shares in a block trade. McCormick gained 4% after reporting second-quarter adjusted earnings of 80 cents per share, topping estimates.

Merck KGaA has agreed to acquire life sciences company Bio-Techne Corporation for $11.3 billion. The deal values Bio-Techne at $73 per share, a 36% premium to its one-month volume weighted average trading price and a 25% premium to its last close of $58.88 on June 24. Bio-Techne, which employs around 3,100 people across 34 locations worldwide, generated over $1.2 billion in net sales in fiscal year 2025. This is Merck's largest acquisition since its $17 billion purchase of Sigma-Aldrich in 2015 and the first under new CEO Kai Beckmann, who took over in September 2025 and has pledged to pursue M&A to strengthen the company's pipeline.