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Invitrogen Shares Get a Lift

Stock in Carlsbad-based Invitrogen Corp. rose 5.26 percent March 1 following earnings news and an announcement about efforts to make a bird flu vaccine.

Invitrogen, which provides tools and services for biotech labs, reported net income of $49.6 million on revenue of $325.3 million for the quarter ended Dec. 31. In the year-ago quarter, the company reported net income of $30.5 million on revenue of $262.2 million.

For the entire year of 2005, Invitrogen reported net income of $132 million on revenue of $1.2 billion. In 2004, the company reported net income of $88.8 million on revenue of $1.02 billion.

Invitrogen stock closed at $70.93 on Feb. 28, and following the closure, the company announced financial results. The stock opened at $74.10 on March 1.

As the stock market opened, Invitrogen announced that a subsidiary of Carrington Laboratories of Irving, Texas, would work with Invitrogen services to develop a bird flu vaccine. Carrington saw its stock rise 23 percent March 1.

Specifically, the two companies announced that Carrington subsidiary DelSite Biotechnologies had selected Invitrogen’s PD-Direct services “to develop a process for a cell-based avian H5 influenza whole virion antigen to be incorporated in DelSite’s nasal vaccine product.”

Invitrogen closed March 1 at $74.66, up 5.26 percent from the previous day’s closing price. The company’s Nasdaq ticker symbol is IVGN.

Also on Feb. 28, Invitrogen announced James R. Glynn , who holds the title of chief executive officer emeritus , will retire from the board of directors April 21.

, Brad Graves

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