CARLSBAD, Calif., Sept. 16, 2011 /PRNewswire/ -- Life Technologies Corporation (NASDAQ: LIFE) applauds the signing by President Barack Obama of "The Leahy-Smith America Invents Act" (H.R. 1249). President Obama will sign the bill today at Thomas Jefferson High School for Science and Technology in Alexandria, Virginia.
"American universities and business lead the world in innovation, and innovation drives job creation," said Greg Lucier, chairman and chief executive officer at Life Technologies, a company that holds more than 4,000 patents and exclusive licenses in its Life Science portfolio. "The America Invents Act will play an essential role in ensuring our continued leadership, especially in the fast-growing biotechnology industry."
The America Invents Act strengthens innovators' rights through several measures, including the transition of the U.S. to a first-to-file system, which will reduce the cost and complexity of obtaining patents; simplification of often expensive patent litigation; and, removal of pathways frequently used by patent infringers to prolong and obscure patent attacks.
"The technologies protected by our patents are solving the problems people care about," said Lucier. "Our medical research and diagnostic products are helping to usher in an era of personalized healthcare. Our Ion Personal Genome Machine (PGM(TM)) played an instrumental role in identifying the E. coli bacterium behind the German outbreak this summer. Life Technologies products are also being used to convict the guilty, free the innocent and create green energy sources."
Innovation's return on investment to the American public is profound. For example, a 2011 study by the Battelle Institute, sponsored by the Life Technologies Foundation, demonstrated a $796 million return on the federal government's $3.8 million investment in the Human Genome Project. Life Technologies signed a statement in support of the America Invents Act, sponsored by Senators Patrick Leahy and Lamar Smith, along with a group of associations and companies including Novartis, Eli Lilly and BIO (Biotechnology Industry Organization).
About Life Technologies
Life Technologies Corporation (NASDAQ: LIFE) is a global biotechnology company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific and medical advancements that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance the fields of discovery and translational research, molecular medicine, stem cell-based therapies, food safety and animal health, and 21st century forensics. The company manufactures both molecular diagnostic and research use only products. Life Technologies' industry-leading brands are found in nearly every life sciences lab in the world and include innovative instrument systems under the Applied Biosystems and Ion Torrent names, as well as, the broadest range of reagents with its Invitrogen, Gibco, Ambion, Molecular Probes and Taqman products. Life Technologies had sales of $3.6 billion in 2010, has a workforce of approximately 11,000 people, has a presence in approximately 160 countries, and possesses one of the largest intellectual property estates in the life sciences industry, with greater than 4,000 patents and exclusive licenses. For more information on how we are making a difference, please visit our website: http://www.lifetechnologies.com. Follow Life Technologies on Twitter @LIFECorporation and on Facebook.
Life Technologies' Safe Harbor Statement
This press release includes forward-looking statements about Life Technologies' anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and Life Technologies' plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by Life Technologies with the Securities and Exchange Commission. Life Technologies undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.
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