Applied Biosystems ‘strong enough to stand alone’

Applied Biosystems could be set to separate from its partner group Celera as part of a restructuring programme, it has been revealed.

Parent company the Applera Corporation states that it is looking into establishing the two firms as separate entities in order to pursue future financial growth.

Tony White, chair, president and chief executive officer of Applera, explains: "The tracking stock structure has facilitated the interests of both Celera and Applied Biosystems."

But he adds: "The evolution of our businesses makes it timely to explore the potential benefits of these businesses going their separate ways."

Mr White continues that Applied Biosystems continues to be "undervalued in the market" in terms of its share price.

The Applera board also announced that it has increased its repurchase programme to include about 20 per cent of all outstanding stock in the company.

Applied Biosystems claims to have installed about 180,000 instruments in facilities in 100 different countries worldwide.