Abbott Buys Rest of Diagnostic Firm

Abbott Laboratories has purchased the remaining 81.4% stake in Ibis Biosciences, a subsidiary of Isis Pharmaceuticals, for $175 million.

 Isis, which is based in Carlsbad-CA also will receive payments from North Chicago, IL-based Abbott linked to post-closing sales of Ibis Systems. Those include instruments and assay kits.

 Earlier this year, Abbott invested $40 million in Ibis for about 18.6% of the company’s outstanding equity, bringing the total acquisition price to $215 million, Abbott said.

Ibis makes a diagnostic system designed to help medical researchers rapidly detect and identify bacteria, viruses and fungi.