<SEC-DOCUMENT>0001193125-21-002001.txt : 20210222
<SEC-HEADER>0001193125-21-002001.hdr.sgml : 20210222
<ACCEPTANCE-DATETIME>20210105164528
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-21-002001
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIO-RAD LABORATORIES, INC.
		CENTRAL INDEX KEY:			0000012208
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				941381833
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1000 ALFRED NOBEL DRIVE
		CITY:			HERCULES
		STATE:			CA
		ZIP:			94547
		BUSINESS PHONE:		5107247000

	MAIL ADDRESS:	
		STREET 1:		1000 ALFRED NOBEL DRIVE
		CITY:			HERCULES
		STATE:			CA
		ZIP:			94547

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIO RAD LABORATORIES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="28%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">


<IMG SRC="g25685g66c39.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Bio-Rad</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><I>Laboratories, Inc.</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Corporate Offices</I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>1000 Alfred Nobel
Drive</I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Hercules, California 94547</I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Phone:
510-724-7000</I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Fax: 510-741-4048</I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="line-height:1.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.50pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">January&nbsp;5,
2021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeanne Bennett </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Life Sciences </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities&nbsp;&amp; Exchange
Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left">Subject:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B><FONT STYLE="white-space:nowrap">Bio-Rad</FONT> Laboratories, Inc.</B> </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Year Ended December&nbsp;31, 2019
</B></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Filed March&nbsp;2, 2020 </B></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;001-07928</FONT> </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Bennett: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Bio-Rad</FONT> Laboratories, Inc. (&#147;Company&#148;) hereby submits for filing by direct electronic transmission the
responses set forth below to the comment letter dated December&nbsp;29, 2020 from the Staff of the Securities&nbsp;&amp; Exchange Commission (&#147;Staff&#148;) regarding the filing listed above. To assist your review, we have included the text of
the Staff&#146;s comments below in bold italicized type. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Year Ended December&nbsp;31,
2019 </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>General </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>1. We note that
your forum selection provision in Section&nbsp;54 of your bylaws identifies the Court of Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, another state court located within the State of Delaware or, if no
state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware) as the exclusive forum for certain litigation, including any &#147;derivative action.&#148; In future filings, please
describe the provision, including the relevant forum for litigation and any subject matter jurisdiction carve out, and whether this provision applies to actions arising under the Securities Act or Exchange Act. If so, please also state that there is
uncertainty as to whether a court would enforce such provision and include risk factor disclosure of the risks to investors, such as the increased costs to bring a claim and that the provision may discourage claims or limit investors&#146; ability
to bring a claim in a judicial forum that they find favorable. Further, if the provision applies to </I></B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>
Securities Act claims, please also state that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. In that regard, we note that
Section&nbsp;22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Response</U></B>: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As the Staff has noted, the
Company&#146;s bylaws specify the forum for certain litigation. In future filings the Company will describe the referenced bylaw provision, including the relevant forum for litigation and any subject matter jurisdiction carve out, and whether this
provision applies to actions arising under the Securities Act or Exchange Act and any uncertainties in this regard. We will also include risk factor disclosures of the relevant risks to investors and also state that investors cannot waive compliance
with the federal securities laws and the rules and regulations thereunder with respect to Securities Act claims. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We trust this response addresses the
Staff&#146;s comment. Should you wish to discuss this matter further or if the Staff has additional questions, please contact the undersigned or <FONT STYLE="white-space:nowrap">Bio-Rad</FONT> General Counsel, Tim Ernst, at <FONT
STYLE="white-space:nowrap">tim_ernst@bio-rad.com.</FONT> Thank you. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="white-space:nowrap">Bio-Rad</FONT> Laboratories, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ilan Daskal</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Ilan Daskal</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">EVP, Chief Financial Officer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g25685g66c39.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g25685g66c39.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1"  V +@# 2(  A$! Q$!_\0
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M'4[EY_6N/\6>&M9\$W@LM5L9-.GV%BLX^5@#@X-2YS,ZD\9"#YKGI\G[5GQ
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M-:UVRO;3=O\ *<.1GUZ5SV@_$CX%?#M&N]$DTX7&.L,)9S]"1Q7PT\<2\N[
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DTD,09_S-=M'"D,81$5%'\*C HHI'13A&.R)=HQC%%%% S__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
