Merck to acquire Bio-Techne in $11.3 billion deal to expand life sciences business

The proposed acquisition will strengthen Merck’s presence in areas including multi-omics, spatial biology and cell and gene therapy, subject to shareholder and regulatory approvals.

Merck has agreed to acquire U.S.-based life sciences company Bio-Techne Corporation for US$73 per share in cash, valuing the transaction at approximately US$11.3 billion (about €9.9 billion), the companies announced. 

The acquisition, which remains subject to regulatory approvals and approval by Bio-Techne shareholders, is expected to close by late 2026 or early 2027.

If completed, the deal will combine Merck’s life sciences business with Bio-Techne’s portfolio of life science tools, analytical technologies and consumables used across scientific research, drug development and biopharmaceutical manufacturing.

Expanding life sciences capabilities

Merck said the acquisition would strengthen its presence in high-growth areas including multi-omics, spatial biology, precision diagnostics, cell and gene therapy and advanced research tools.

Multi-omics refers to the combined analysis of different types of biological data, such as genes, proteins and other molecules, to better understand biological processes and diseases.

Spatial biology studies where cells and molecules are located within tissues, helping researchers understand how diseases develop and respond to treatment.

Cell and gene therapy involves modifying or using cells or genes to treat medical conditions.

The company said Bio-Techne’s portfolio would complement its existing Discovery Solutions, Advanced Solutions and Process Solutions businesses, while broadening its offerings across research, development and manufacturing workflows.

Bio-Techne’s portfolio includes recombinant proteins, cytokines, growth factors, antibodies and immunoassay kits. The acquisition would also add ProteinSimple’s automated protein detection and analysis instruments, as well as RNAscope and related in situ hybridisation technologies used in spatial biology and diagnostics.

Merck said it would also strengthen its position in providing materials, analytics and process technologies for cell therapy developers.

Companies outline strategic rationale

“This transaction is an important milestone towards delivering on our mid- to long-term strategic agenda. Bio-Techne is an outstanding fit that directly supports our strategic direction focused on delivering cutting-edge products and solutions across the entire industry value chain, from lab customers to those manufacturing in the biotech and pharmaceutical industries,” said Kai Beckmann, Chairman of the Executive Board and Group Chief Executive Officer of Merck.

He said combining Bio-Techne’s scientific capabilities with Merck’s manufacturing expertise and global reach would help support scientific discovery and therapeutic innovation.

Jean-Charles Wirth, Member of the Executive Board of Merck and Chief Executive Officer of Life Science, said the acquisition would strengthen the company’s presence in areas including multi-omics, spatial biology, precision diagnostics and cell and gene therapy.

“It adds capabilities across our Discovery Solutions, Advanced Solutions and Process Solutions offerings, to support customers across increasingly complex scientific workflows,” Wirth said.

Kim Kelderman, President and Chief Executive Officer of Bio-Techne, said becoming part of Merck would provide greater scale and expanded capabilities to accelerate innovation.

Bio-Techne’s global footprint

Bio-Techne, headquartered in Minneapolis, has more than 3,000 employees, including around 2,300 in the United States. The company operates 34 locations and 15 manufacturing facilities across the United States, Canada, the United Kingdom, Switzerland and China.

It generated more than US$1.2 billion in net sales in fiscal year 2025.

Merck said the combination would expand Bio-Techne’s access to global customers through its international life sciences infrastructure while strengthening its own capabilities across discovery, development and manufacturing.

Financial terms and next steps

Under the agreement, Bio-Techne shareholders will receive US$73 per share in cash. Merck said the transaction would be financed through a combination of existing cash and new debt while maintaining an investment-grade credit rating.

The company expects the acquisition to be immediately accretive to sales growth and EBITDA pre margin after closing. It also expects earnings per share before exceptional items to become accretive by the third year after completion.

Merck said it expects annual cost synergies of about €140 million, with the full benefits anticipated by the third year after the transaction closes.

The acquisition has been approved by Bio-Techne’s Board of Directors and Merck’s relevant corporate bodies. It remains subject to customary closing conditions, including regulatory clearances and approval by Bio-Techne shareholders.