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Horizon Discovery would benefit from Abcam

Horizon Discovery would benefit from Abcam

Horizon Discovery’s (HZD) full-year results have yet to convince us that the group is best off outside of Abcam (ABC) – its larger peer which made an unsolicited equity offer less than a week prior to the announcement of these numbers. True, reported revenues have rocketed, but extract the £9m contribution from Dharmacon – the cell line business Horizon bought off General Electric in August 2017 – and revenues were up 14 per cent to £27.5m; decent enough, but in line with the growth rate reported by Abcam in the first half of its financial year.

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