8-K

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                FORM 8-K

                              CURRENT REPORT

                  PURSUANT TO SECTION 13 OR 15(d) OF THE
                     SECURITIES EXCHANGE ACT OF 1934

    Date of report (Date of earliest event reported): March 1, 2005

                            TECHNE CORPORATION
             (Exact Name of Registrant as Specified in Charter)


       Minnesota                     0-17272             41-1427402
(State or Other Jurisdiction       (Commission         I.R.S. Employer
of Incorporation)                  File Number)      Identification No.)

                614 Mckinley Place NE
                   Minneapolis, MN                       55413
       (Address of Principal Executive Offices)       (Zip Code)

     Registrant's telephone number, including area code:  (612) 379-8854

                              Not Applicable
      (Former Name or Former Address, if changed since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any
of the following provisions:

/ /   Written communications pursuant to Rule 425 under the Securities Act
      17 CFR 230.425)

/ /   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

/ /   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

/ /   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))













Item 1.01  Entry into a Material Definitive Agreement

Attached as Exhibit 99.1 is a copy of the press release issued by Techne
Corporation (the "Company") on March 2, 2005, announcing the repurchase of
approximately 2.9 million shares of common stock for $100 million.  The
transaction was completed through a financial intermediary pursuant to an
accelerated share buyback ("ASB") program.  The shares were purchased at an
initial price of $34.45 per share, subject to a market price adjustment
provision expected to be settled in December 2005.  At the end of the settlement
period, the Company will receive or pay the price adjustment based on the volume
weighted average price of the shares traded on the Nasdaq prior to the
settlement date.  Approximately two-thirds of the shares purchased pursuant to
the ASB program are subject to a collar, which effectively sets a minimum and
maximum price the Company will be obligated to pay for such shares.  The collar
was established in exchange for an upfront payment.



Item 9.01  Financial Statements and Exhibits

   a.  Not applicable.

   b.  Not applicable

   c.  Exhibits

     99.1 Press release of Techne Corporation dated March 2, 2005.




                            SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Dated: March 3, 2005                  TECHNE CORPORATION

                                      By: /s/ Thomas E. Oland
                                      ---------------------------
                                      Name: Thomas E. Oland
                                      Title: President and Chief
                                        Executive Officer

EX-99.1

                   TECHNE CORPORATION REPUCHASES COMMON STOCK

Minneapolis/March 2, 2005-Techne Corporation (NASDAQ:TECH) announced today it
has repurchased approximately 2.9 million shares, or about 7 percent of its
outstanding common stock, for $100 million.  The transaction was completed
through a financial intermediary pursuant to an accelerated share buyback
("ASB") program. The number of common shares outstanding has been reduced for
this transaction effective today.

The shares were purchased at an initial price of $34.45 per share, subject to
a market price adjustment provision expected to be settled in December 2005.
At the end of the settlement period, the Company will receive or pay the
price adjustment based on the volume weighted average price of the shares
traded on the Nasdaq prior to the settlement date.  Approximately two-thirds
of the shares purchased pursuant to the ASB program are subject to a collar,
which effectively sets a minimum and maximum price the Company will be
obligated to pay for such shares.  The collar was established in exchange for
an upfront payment.

The share repurchase was funded with a portion of the Company's existing cash
and available-for-sale investments.  Following the repurchase, the Company
has cash and available-for-sale investments of approximately $115 million,
mortgage debt of about $15 million and shareholders' equity in excess of $235
million.

"Today's share repurchase allowed the Company to acquire approximately 2.9
million shares at an initial price that was near its 52-week low.  This
transaction will immediately have a positive impact on our earnings per share
at a time of solid revenue growth and improving earnings.  Our current cash
and investments combined with substantial quarterly cash generation will also
provide us the financial flexibility to further invest in and grow our
business and increase shareholder value," said Thomas E. Oland, Techne
Corporation's Chairman and Chief Executive Officer.


Certain statements in this press release are forward-looking statements,
which involve risks and uncertainties which may cause such statement to
differ materially from actual results.  You should carefully consider
forward-looking statements and understand that such statements involve a
variety of risks and uncertainties. Consequently, no forward-looking
statement can be guaranteed and actual results may vary materially.  Forward-
looking statements in this release relate primarily to revenue and earnings
per share growth, the protection afforded by the purchase price adjustment to
which the transaction is subject and the adequacy of the Company's capital
resources.

The following important factors, among others, have affected and, in the
future, could affect the Company's revenue and earnings per share: the
introduction and acceptance of new biotechnology and hematology products, the
levels and particular directions of research by the Company's customers, the
impact of the growing number of producers of biotechnology research products
and related price competition, the retention of hematology OEM and
proficiency survey business, the impact of currency exchange rate
fluctuations, and the costs and results of research and product development
efforts of the Company and of companies in which the Company has invested or
with which it has formed strategic relationships.  For additional information
concerning such factors, see the Company's annual report on Form 10-K and
quarterly reports on Form 10-Q as filed with the Securities and Exchange
Commission.


                     *  *  *  *  *  *  *  *  *  *  *  *  *  *
Techne Corporation has two operating subsidiaries:  Research and Diagnostic
Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe,
Ltd. (R&D Europe) of Abingdon, England.  R&D Systems is a specialty
manufacturer of biological products and R&D Europe is a distributor of
biotechnology products.

Contact:  Greg Melsen, Chief Financial Officer
          Kathy Backes, Controller
          (612) 379-8854