UPDATE 1-Elliott builds big stake in life-science tools supplier Bio-Rad Labs, WSJ reports

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May 17 (Reuters) - Activist investor Elliott Investment Management has built a sizeable stake in U.S. diagnostics supplier Bio-Rad Laboratories BIO.N, and plans to push the company to boost its underperforming stock price, the Wall Street Journal reported on Sunday.

Bio-Rad's shares have fallen more than 18% so far this year.

Elliott has also built a stake in German biopharma equipment supplier Sartorius SATG.DE in which Bio-Rad is an investor, the WSJ report said, citing people familiar with the matter.

Reuters could not immediately verify the report. Elliott, Bio-Rad, and Sartorius did not immediately respond to requests for comment.

The exact size of Elliott's shareholding in Bio-Rad or Sartorius was not disclosed in the report.

The U.S. activist, which has been quite active in the healthcare sector, believes Sartorius is a high-quality business with strong growth potential, the report said.

Bio-Rad recently lowered its 2026 revenue growth outlook after posting a first-quarter net loss of $527 million. The company attributed the change in the fair market value of its Sartorius AG investment.

Bio-Rad shares closed at $246.53 on Friday, giving it a market capitalisation of $6.69 billion, according to data compiled by LSEG.


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