ICN to Pay Less for Flow Laboratories
COSTA MESA —
ICN Biomedicals, a Costa Mesa supplier of biotechnology research and medical diagnostic products, said Tuesday that its price for acquiring Flow Laboratories has been reduced from $41.5 million to $37.6 million.
Flow Laboratories is a supplier of life sciences research products that was acquired by ICN in November, 1989.
The adjustment in the purchase price was based on a financial review of Flow Laboratories by an independent auditing firm, said Jack Sholl, an ICN spokesman.
“The acquisition of Flow Laboratories was intended to provide ICN Biomedicals with international sales, marketing and distribution capability that it did not have before, particularly in the European economic community.” Sholl added.
