Abbott and partner revise collaboration

Abbott and its partner Celera have renewed their collaboration, following a revision of profit sharing.

The partnership – which began in 2002 and was reinstated in 2006 – has also seen both companies signing a new distribution agreement, which is set to see Abbott issuing products.

The deal has a potential length of nine years, consisting of an initial five-year stretch followed by two possible two-year periods.

The second contract in the collaboration, a royalty agreement, will see Celera receiving fees for purchases of m2000 system reagents, services, instruments and consumables.

As a result of the transaction, Abbott will additionally receive royalties on associated generic tests, with both companies paying each other for any related developed products.

Kathy Ordonez, chief executive officer of Celera, said: “We’ve been pleased with our relationship with Abbott as we’ve built a successful market position in molecular diagnostics over the past six years.

“Moreover, we believe the new arrangements will provide greater financial clarity for Celera’s investors.”

Based in Maidenhead, Berkshire, Abbott employs 65,000 people, of which 2,000 are in the UK.

The company’s British subsidiary – established in 1937 at Perivale, west London – also has locations in Oxfordshire and Kent.