Here's Why Quidel Corporation Stock Is Popping Today

Here's Why Quidel Corporation Stock Is Popping Today

Shares of Quidel Corporation (NASDAQ: QDEL), a molecular diagnostics specialist with a focus on quick turnarounds, ticked up 9.3% as of 11:26 a.m. EDT on Tuesday in response to a positive development concerning a recent agreement with Alere Inc. (NYSE: ALR). Investors are pleased with a revision that will tack on global rights to sales of a test and the equipment that runs it.

To satisfy antitrust regulators scrutinizing Abbott's acquisition of Alere, the latter must divest some assets. Earlier this summer, Quidel agreed to scoop up Alere's Triage MeterPro cardiovascular and toxicology assets, along with its business developing B-type Naturietic Peptide (BNP) assays, which are run on Beckman Coulter analyzers and test for heart failure, for $400 million up front and $40 million in contingent consideration.

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Source: Fool.com