ALAMEDA, Calif. Celera Corp. and Abbott have revised the strategic alliance that they started in June 2002, the two companies announced Monday.
Under the revised distribution agreement, Abbott will distribute unspecified molecular products that Celera manufactures, while another agreement stipulates that Celera will receive royalties on the sale of its m2000 reagents, instruments, service and related products, and Abbott will receive royalties on some Celera genetic tests. The new distribution agreement will have a five-year term with two two-year renewal periods, and the new royalty agreement expires in 2017.
"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," Celera chief executive officer Kathy Ordonez said in a statement. "Moreover, we believe the new arrangements will provide greater financial clarity for Celera's investors."