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BRIEF-Exiqon says if QIAGEN takeover offer fails, co risks short-term profitability
May 24, 2016 / 7:01 AM / a year ago

BRIEF-Exiqon says if QIAGEN takeover offer fails, co risks short-term profitability

May 24 (Reuters) - Exiqon A/S :

* Says if takeover offer by QIAGEN N.V fails, Exiqon risks short-term profitability and plans for a capital increase to accelerate Life Sciences strategy

* Plans to focus resources on life sciences at expense of publically funded activities within diagnostics

* In consequence of increased strategic focus, plans to discontinue its current Diagnostic segment and write down all associated goodwill of 49.4 million Danish crowns ($7.45 million)

* Additional capital will be required to finance planned investments designed to accelerate company's growth and achieve long-term sustainable profitability

* Company will only continue development of most promising program(s) and seek to commercialize any successfully developed products for diagnostic applications Source text for Eikon: Further company coverage: ($1 = 6.6337 Danish crowns) (Gdynia Newsroom)

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