IBM Investing $100 Million to Develop Life-Science Products

IBM Corp. said it is investing $100 million over three years to develop new products to process and interpret the human genetic code and other life-science data. IBM, the No. 1 computer maker, also said it formed a life-science unit to sell services such as data management and storage and Internet commerce to companies in such industries as biotechnology and pharmaceuticals. The Armonk, N.Y.-based company said industry sales for life-science products and software will more than double to $9 billion by 2003. The volume of life-science data is doubling every six months, IBM said. IBM shares rose 38 cents to close at $122.38 on the New York Stock Exchange.