SECURITIES AND EXCHANGE COMMISSION
                           Washington, DC  20549

                                  FORM 10-Q

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

        For the quarterly period ended March 31, 2008, or


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

        For the transition period from __________to___________

                             __________________

                        Commission file number 0-17272
                             __________________

                             TECHNE CORPORATION
             (Exact name of registrant as specified in its charter)


     MINNESOTA                                            41-1427402
(State or other jurisdiction                          (I.R.S. Employer
of incorporation or organization)                     Identification No.)

614 MCKINLEY PLACE N.E.                                (612) 379-8854
MINNEAPOLIS, MN          55413                (Registrant's telephone number,
(Address of principal (Zip Code)                    including area code)
executive offices)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.   Yes (X)  No ( )

Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer a non-accelerated filer, or a smaller reporting company.
See definition of "large accelerated filer", "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer (X)  Accelerated filer ( )  Non-accelerated filer ( )
Smaller reporting company ( )

Indicate by check mark whether the Registrant is a shell company (as defined
in Exchange Act Rule 12b-2). (   ) Yes    (X) No

At May 5, 2008, 38,641,599 shares of the Company's Common Stock (par value
$.01) were outstanding.



                          TECHNE CORPORATION
                               FORM 10-Q
                            MARCH 31, 2008

                                INDEX

                                                                   PAGE NO.
                     PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS (unaudited)

      Condensed Consolidated Balance Sheets as of
        March 31, 2008 and June 30, 2007                               3

      Condensed Consolidated Statements of Earnings for
        the Quarter and Nine Months Ended March 31, 2008 and 2007      4

      Condensed Consolidated Statements of Cash Flows for the
        Nine Months Ended March 31, 2008 and 2007                      5

      Notes to Condensed Consolidated Financial Statements             6

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS                           10

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK    17

ITEM 4.  CONTROLS AND PROCEDURES                                       18

                      PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS                                             19

ITEN 1A. RISK FACTORS                                                  19

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS   19

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                               19

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SHAREHOLDERS               19

ITEM 5.  OTHER INFORMATION                                             19

ITEM 6.  EXHIBITS                                                      19

SIGNATURES                                                             20

                                      2



                         PART I. FINANCIAL INFORMATION

                         ITEM 1 - FINANCIAL STATEMENTS

                     TECHNE CORPORATION AND SUBSIDIARIES
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                (in thousands, except share and per share data)
                                  (unaudited)

                                                    3/31/08   6/30/07
                                                   --------  --------
ASSETS
  Cash and cash equivalents                        $162,849  $135,485
  Short-term available-for-sale investments          42,947    29,289
  Trade accounts receivable, net                     32,798    29,559
  Other receivables                                   1,407     1,407
  Inventories                                        10,003     8,757
  Deferred income taxes                               8,236     7,446
  Prepaid expenses                                    1,121       895
                                                   --------  --------
   Total current assets                             259,361   212,838
                                                   --------  --------

  Available-for-sale investments                     75,097    91,433
  Property and equipment, net                        94,069    91,535
  Goodwill                                           25,068    25,068
  Intangible assets, net                              4,246     5,099
  Deferred income taxes                               4,366     4,362
  Investments in unconsolidated entities             25,052    24,165
  Other assets                                          851       344
                                                   --------  --------
                                                   $488,110  $454,844
                                                   ========  ========
LIABILITIES AND STOCKHOLDERS' EQUITY
  Trade accounts payable                           $  4,852  $  5,098
  Salaries, wages and related accruals                5,977     6,013
  Other accounts payable and accrued expenses         3,077     1,836
  Income taxes payable                                6,256     4,246
                                                   --------  --------
    Total current liabilities                        20,162    17,193
                                                   --------  --------

  Common stock, par value $.01 per share;
   authorized 100,000,000; issued and outstanding
   38,772,452 and 39,455,677, respectively              388       395
  Additional paid-in capital                        114,781   109,993
  Retained earnings                                 341,362   314,339
  Accumulated other comprehensive income             11,417    12,924
                                                   --------  --------
   Total stockholders' equity                       467,948   437,651
                                                   --------  --------
                                                   $488,110  $454,844
                                                   ========  ========

         See notes to condensed consolidated financial statements.

                                     3



                       TECHNE CORPORATION AND SUBSIDIARIES
                CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
                     (in thousands, except per share data)
                                (unaudited)

                                         QUARTER ENDED    NINE MONTHS ENDED
                                       ----------------  ------------------
                                       3/31/08  3/31/07   3/31/08   3/31/07
                                       -------  -------  --------  --------
Net sales                              $69,522  $60,197  $189,651  $165,057
Cost of sales                           14,146   12,019    39,001    33,970
                                       -------  -------  --------  --------
Gross margin                            55,376   48,178   150,650   131,087
                                       -------  -------  --------  --------
Operating expenses:
  Selling, general and administrative    8,994    7,229    27,729    23,126
  Research and development               5,839    5,169    16,582    15,068
  Amortization of intangible assets        283      403       853     1,210
                                       -------  -------  --------  --------
     Total operating expenses           15,116   12,801    45,164    39,404
                                       -------  -------  --------  --------
Operating income                        40,260   35,377   105,486    91,683
                                       -------  -------  --------  --------
Other expense (income):
  Interest expense                          --       --        --     1,083
  Interest income                       (3,155)  (2,237)   (9,405)   (5,869)
  Other non-operating expense, net         423      767     1,565     1,680
                                       -------  -------  --------  --------
      Total other income                (2,732)  (1,470)   (7,840)   (3,106)
                                       -------  -------  --------  --------
Earnings before income taxes            42,992   36,847   113,326    94,789
Income taxes                            13,402   12,954    37,025    32,602
                                       -------  -------  --------  --------
Net earnings                           $29,590  $23,893  $ 76,301  $ 62,187
                                       =======  =======  ========  ========
Earnings per share:
 Basic                                 $  0.76  $  0.61  $   1.94  $   1.58
 Diluted                               $  0.76  $  0.60  $   1.94  $   1.57

Weighted average common
 shares outstanding:
  Basic                                 39,000   39,414    39,296    39,393
  Diluted                               39,108   39,543    39,396    39,498

            See notes to condensed consolidated financial statements.

                                       4



                     TECHNE CORPORATION AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (in thousands)
                                  (unaudited)

                                                         NINE MONTHS ENDED
                                                        -------------------
                                                         3/31/08    3/31/07
                                                        --------   --------
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net earnings                                           $ 76,301   $ 62,187
 Adjustments to reconcile net earnings to net
  cash provided by operating activities:
   Depreciation and amortization                           5,254      5,152
   Deferred income taxes                                    (795)      (328)
   Stock-based compensation expense                        1,663      1,467
   Excess tax benefit from stock option exercises           (409)      (329)
   Losses by equity method investees                         836        634
   Other                                                     224        126
   Change in operating assets and operating liabilities:
    Trade accounts and other receivables                  (2,557)    (5,110)
    Inventories                                           (1,565)      (645)
    Prepaid expenses                                        (220)      (226)
    Trade, other accounts payable and accrued expenses      (580)       321
    Salaries, wages and related accruals                   1,427        506
    Income taxes payable                                   2,491       (581)
                                                        --------   --------
    Net cash provided by operating activities             82,070     63,174
                                                        --------   --------
CASH FLOWS FROM INVESTING ACTIVITIES:
 Additions to property and equipment                      (6,914)    (4,293)
 Purchase of available-for-sale investments              (42,880)   (34,195)
 Proceeds from sales of available-for-sale investments    25,055      4,244
 Proceeds from maturities of available-for-sale
  investments                                             18,898     13,485
 Increase in other assets                                   (608)        --
 Increase in investments in unconsolidated entities       (1,723)    (7,900)
                                                        --------   --------
    Net cash used in investing activities                 (8,172)   (28,659)
                                                        --------   --------
CASH FLOWS FROM FINANCING ACTIVITIES:
 Issuance of common stock                                  2,630      1,639
 Excess tax benefit from stock option exercises              409        329
 Purchase of common stock for stock bonus plans           (1,494)    (1,222)
 Repurchase and retirement of common stock               (47,807)        --
 Payments on long-term debt                                   --    (13,427)
                                                        --------   --------
    Net cash used in financing activities                (46,262)   (12,681)
                                                        --------   --------

Effect of exchange rate changes on cash                     (272)     4,808
Net increase in cash and cash equivalents                 27,364     26,642
Cash and cash equivalents at beginning of period         135,485     89,634
                                                        --------   --------
Cash and cash equivalents at end of period              $162,849   $116,276
                                                        ========   ========

          See notes to condensed consolidated financial statements.

                                     5


                     TECHNE CORPORATION & SUBSIDIARIES
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

A.  BASIS OF PRESENTATION:

The unaudited condensed consolidated financial statements of Techne
Corporation and Subsidiaries (the Company) have been prepared in accordance
with accounting principles generally accepted in the United States of America
and with instructions to Form 10-Q and Article 10 of Regulation S-X. The
accompanying unaudited condensed consolidated financial statements reflect
all adjustments which are, in the opinion of management, necessary for a fair
presentation of the results for the interim periods presented. All such
adjustments are of a normal recurring nature.

A summary of significant accounting policies followed by the Company is
detailed in the Company's Annual Report on Form 10-K for fiscal 2007. The
Company follows these policies in preparation of the interim unaudited
condensed consolidated financial statements. Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with accounting principles generally accepted in the United States of America
have been condensed or omitted. These unaudited condensed consolidated
financial statements should be read in conjunction with the Company's
Consolidated Financial Statements and Notes thereto for the fiscal year ended
June 30, 2007 included in the Company's Annual Report to Shareholders for
fiscal 2007.

Certain consolidated balance sheet captions appearing in this interim report
are as follows (in thousands):

                                                       3/31/08   6/30/07
                                                      --------  --------
TRADE ACCOUNTS RECEIVABLE
  Trade accounts receivable                           $ 33,067  $ 29,700
    Less allowance for doubtful accounts                   269       141
                                                      --------  --------
      NET TRADE ACCOUNTS RECEIVABLE                   $ 32,798  $ 29,559
                                                      ========  ========
INVENTORIES
  Raw materials                                       $  3,834  $  3,821
  Supplies                                                 119       125
  Finished goods                                         6,050     4,811
                                                      --------  --------
      TOTAL INVENTORIES                               $ 10,003  $  8,757
                                                      ========  ========

PROPERTY AND EQUIPMENT
  Land                                                $  4,214  $  4,214
  Buildings and improvements                           108,435   100,617
  Building construction in progress                         --     3,205
  Laboratory equipment                                  22,597    20,657
  Office equipment                                       4,726     4,407
  Leasehold improvements                                   951       975
                                                      --------  --------
                                                       140,923   134,075
    Less accumulated depreciation and amortization      46,854    42,540
                                                      --------  --------
      NET PROPERTY AND EQUIPMENT                      $ 94,069  $ 91,535
                                                      ========  ========

                                    6



                                                       3/31/08   6/30/07
                                                      --------  --------
INTANGIBLE ASSETS
  Customer relationships                              $ 20,200  $ 20,200
  Technology                                             4,213     4,213
  Trade names and trademarks                             1,396     1,396
                                                      --------  --------
                                                        25,809    25,809
    Less accumulated amortization                       21,563    20,710
                                                      --------  --------
      NET INTANGIBLE ASSETS                           $  4,246  $  5,099
                                                      ========  ========

ACCUMULATED OTHER COMPREHENSIVE INCOME:
  Foreign currency translation adjustments            $ 13,271  $ 13,400
  Unrealized losses on available-for-sale investments   (1,854)     (476)
                                                      --------  --------
      TOTAL ACCUMULATED OTHER COMPREHENSIVE INCOME    $ 11,417  $ 12,924
                                                      ========  ========


B.  INVESTMENTS IN AUCTION-RATE SECURITIES:

At June 30, 2007 and March 31, 2008, the Company held $18.7 million and $22.1
million par value, respectively, of investments in auction-rate securities,
all of which are rated A or above and which consist of specifically
identifiable tax-free municipal revenue bonds where the underlying credit can
be specifically evaluated and rated.  The Company classifies its auction-rate
securities as long-term available-for-sale investments.

In mid-February 2008, market auctions, including several in the Company's
auction-rate portfolio, began to fail due to insufficient buyers.  The
Company has determined that several of its investments in auction-rate
securities are temporarily impaired and has reduced the value of its auction-
rate investments to $19.6 million as of March 31, 2008.  The $2.5 million
reduction in value is reflected in accumulated other comprehensive income, a
component of shareholders' equity.  The Company continues to believe that it
will ultimately recover all amounts invested in these securities.  At April
30, 2008, the Company held $9.1 million of these securities, which are
carried at $6.6 million.


C.  EARNINGS PER SHARE:

Shares used in the earnings per share computations are as follows (in
thousands):

                                         QUARTER ENDED    NINE MONTHS ENDED
                                       ----------------  ------------------
                                       3/31/08  3/31/07   3/31/08   3/31/07
                                       -------  -------  --------  --------
Weighted average common shares
 outstanding-basic                      39,000   39,414    39,296    39,393
Dilutive effect of stock options
 and warrants                              108      129       100       105
                                       -------  -------  --------  --------
Weighted average common shares
  outstanding-diluted                   39,108   39,543    39,396    39,498
                                       =======  =======  ========  ========

The dilutive effect of stock options and warrants in the above table excludes
all options for which the aggregate exercise proceeds exceeded the average
market price for the period.  The number of potentially dilutive option
shares excluded from the calculation was 41,000 for both the quarter and nine
months ended March 31, 2008 and 7,000 for both the quarter and nine months
ended March 31, 2007, respectively.

                                       7




D.  SEGMENT INFORMATION:

The Company has three reportable operating segments based on the nature of
products and geographic location: biotechnology, R&D Systems Europe and
hematology. The biotechnology segment consists of R&D Systems' Biotechnology
Division, Fortron (through June 30, 2007 when it was merged into R&D Systems'
Biotechnology Division), BiosPacific and R&D China, which develop,
manufacture and sell biotechnology research and diagnostic products world-
wide. R&D Systems Europe distributes Biotechnology Division products
throughout Europe. The hematology segment develops and manufactures
hematology controls and calibrators for sale world-wide.

Following is financial information relating to the Company's operating
segments (in thousands):

                                         QUARTER ENDED    NINE MONTHS ENDED
                                       ----------------  ------------------
                                       3/31/08  3/31/07   3/31/08   3/31/07
                                       -------  -------  --------  --------
External sales
  Biotechnology                        $45,090  $39,130  $123,114  $108,478
  R&D Systems Europe                    20,226   17,403    54,702    45,587
  Hematology                             4,206    3,664    11,835    10,992
                                       -------  -------  --------  --------
Total consolidated net sales           $69,522  $60,197  $189,651  $165,057
                                       =======  =======  ========  ========
Earnings before income taxes
  Biotechnology                        $32,246  $28,537  $ 86,687  $ 75,983
  R&D Systems Europe                    11,160    8,276    28,788    20,218
  Hematology                             1,175    1,061     3,185     3,113
  Corporate and equity method investees (1,589)  (1,027)   (5,334)   (4,525)
                                       -------  -------  --------  --------
Total earnings before income taxes     $42,992  $36,847  $113,326  $ 94,789
                                       =======  =======  ========  ========

E.  STOCK OPTIONS:

Option activity under the Company's stock option plans during the nine months
ended March 31, 2008 was as follows:

                                          WEIGHTED  WEIGHTED
                                          AVG.      AVG.         AGGREGATE
                                SHARES    EXERCIES  CONTRACTUAL  INTRINSIC
                              (in 000's)  PRICE     LIFE (Yrs.)  VALUE
                              ----------  --------  -----------  -----------
Outstanding at June 30, 2007       423     $43.29
Granted                             38     $65.88
Exercised                          (76)    $35.10
Forfeited or expired                (1)    $36.50
                                  ----
Outstanding at March 31, 2008      384     $47.16       5.4      $7.7 million
                                  ====

Exercisable at March 31, 2008      339     $45.56       5.3      $7.4 million
                                  ====

                                         8


The fair value of options granted under the Company's stock option plans were
estimated on the date of grant using the Black-Scholes option-pricing model
with the following assumptions used:

                                           QUARTER ENDED    NINE MONTHS ENDED
                                         ----------------  ------------------
                                         3/31/08  3/31/07   3/31/08   3/31/07
                                         -------  -------  --------  --------
Dividend yield                                --       --        --        --
Expected annualized volatility               N/A      47%   24%-46%   31%-47%
Risk free interest rate                      N/A     4.8% 4.2%-4.6% 4.7%-5.1%
Expected life                                N/A  8 years   7 years   7 years
Weighted average fair value of
 options granted                             N/A   $32.88    $35.75    $31.53

The Company has not paid cash dividends and does not have any plans to do so,
therefore an expected dividend yield of zero was used to estimate fair value
of options granted. The expected annualized volatility is based on the
Company's historical stock price over a period equivalent to the expected
life of the option granted. The risk-free interest rate is based on U.S.
Treasury constant maturity interest rate with a term consistent with the
expected life of the options granted.  Separate groups of employees that have
similar historical exercise behavior with regard to option exercise timing
and forfeiture rates are considered separately in determining option fair
value.

The total intrinsic value of options exercised during the quarter and nine
months ended March 31, 2008 was $37,000 and $2.1 million, respectively.  The
total intrinsic value of options exercised during the quarter and nine months
ended March 31, 2007 was $715,000 and $969,000, respectively.  Stock option
exercises are satisfied through the issuance of new shares.  The total fair
value of options vested during the quarter and nine months ended March 31,
2008 was $164,000 and $1.7 million, respectively.  The total fair value of
options vested during the quarter and nine months ended March 31, 2007 was
$164,000 and $1.5 million, respectively.

Stock-based compensation cost of $77,000 and $1.7 million was included in
selling, general and administrative expense for the quarter and nine months
ended March 31, 2008, respectively.  Stock-based compensation cost of
$238,000 and $1.5 million was included in selling, general and administrative
expense for the quarter and nine months ended March 31, 2007, respectively.
Compensation cost is recognized using a straight-line method over the vesting
period and is net of estimated forfeitures.  As of March 31, 2008, there was
$500,000 of total unrecognized compensation cost related to nonvested stock
options that will be expensed over fiscal years 2008 through 2010.


F.  COMPREHENSIVE INCOME:

Comprehensive income and the components of other comprehensive income were as
follows (in thousands):

                                           QUARTER ENDED    NINE MONTHS ENDED
                                         ----------------  ------------------
                                         3/31/08  3/31/07   3/31/08   3/31/07
                                         -------  -------  --------  --------
Net earnings                             $29,590  $23,893  $ 76,301  $ 62,187
 Other comprehensive income, net of tax:
  Foreign currency translation
   adjustments                               560      498      (129)    4,949
  Unrealized gain (loss) on
   available-for-sale investments         (2,039)      22    (1,378)      543
                                         -------  -------  --------  --------
Comprehensive income                     $28,111  $24,413  $ 74,794  $ 67,679
                                         =======  =======  ========  ========

                                     9



G.  INCOME TAXES:

The Company adopted Financial Accounting Standards Board Interpretation No.
48 (FIN 48), Accounting for Uncertainty in Income Taxes, on July 1, 2007.
The adoption of FIN 48 did not result in a cumulative effect adjustment to
retained earnings upon adoption.  FIN 48 did not materially impact the
consolidated financials statements for the quarter and nine months ended
March 31, 2008.   At March 31, 2008, unrecognized tax benefits were $81,000,
including $6,000 of unrecognized tax benefits that, if recognized, would
affect the effective tax rate. Accrued interest and penalties were not
material at March 31, 2008.

The Company does not believe it is reasonably possible that the total amounts
of unrecognized tax benefits will significantly increase or decrease in the
next twelve months. The Company recognizes interest and penalties related to
unrecognized tax benefits in income tax expense.  The Company files income
tax returns in the U.S federal tax jurisdiction, the states of Minnesota,
California and Massachusetts, and several jurisdictions outside the U.S.
U.S. tax returns for 2005 and subsequent years remain open to examination by
the tax authorities.  The Company's major non-U.S. tax jurisdictions are the
United Kingdom, France and Germany, which have tax years open to exam for
2004 and subsequent years, and China, which has calendar year 2007 open to
exam.


H.  STOCK REPURCHASE:

In November 2007, the Board of Directors of the Company authorized the
repurchase and retirement of $150 million of common stock.  During the nine
months ended March 31, 2008, the Company repurchased and retired
approximately 758,000 shares of common stock for approximately $49.3 million.
Included in other accounts payable at March 31, 2008 is $1.5 million for
shares repurchased prior to March 31, 2008 which settled after that date.


I.  SUBSEQUENT EVENT:

On April 17, 2008, the Company purchased the facility it had been leasing for
its R&D Europe operations in Abingdon, England for approximately 4.1 million
British pounds (approximately $8.2 million).




          ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                   CONDITION AND RESULTS OF OPERATIONS

  Results of Operations for the Quarter and Nine Months Ended March 31, 2008
            and the Quarter and Nine Months Ended March 31, 2007

Overview

TECHNE Corporation and Subsidiaries (the Company) are engaged in the
development, manufacture and sale of biotechnology products and hematology
calibrators and controls. These activities are conducted domestically through
its wholly-owned subsidiary, Research and Diagnostic Systems, Inc (R&D
Systems).  The Company's wholly-owned U.K. subsidiary, R&D Systems Europe
Ltd. (R&D Europe) distributes R&D Systems' biotechnology products throughout
Europe. R&D Europe has a sales subsidiary, R&D Systems GmbH, in Germany and a
sales office in France.

                                    10



Through June 30, 2007, R&D Systems operated a subsidiary, Fortron Bio
Science, Inc. (Fortron), a developer and manufacturer of monoclonal and
polyclonal antibodies, antigens and other biological reagents. Subsequent to
June 30, 2007, Fortron was merged into R&D Systems.  A second R&D Systems
subsidiary, BiosPacific, Inc. (BiosPacific), located in Emeryville,
California, is a worldwide supplier of biologics to manufacturers of in vitro
diagnostic systems and immunodiagnostic kits. In late fiscal 2007, R&D
Systems established a subsidiary, R&D Systems China Co. Ltd. (R&D China), in
Shanghai, China, to distribute biotechnology products throughout China. The
Company began fulfilling orders for its third-party Chinese distributors from
R&D China in August 2007.

The Company has three reportable operating segments based on the nature of
products and geographic location: biotechnology, R&D Systems Europe and
hematology. The biotechnology segment consists of R&D Systems' Biotechnology
Division, Fortron (through June 30, 2007), BiosPacific and R&D China, which
develop, manufacture and sell biotechnology research and diagnostic products
world-wide. R&D Systems Europe distributes Biotechnology Division products
throughout Europe. The hematology segment develops and manufactures
hematology controls and calibrators for sale world-wide.

Overall Results

Consolidated net earnings increased 23.8% and 22.7% for the quarter and nine
months ended March 31, 2008, respectively, compared to the quarter and nine
months ended March 31, 2007. The primary reason for the increase in
consolidated net earnings was increased consolidated net sales.  Consolidated
net sales for the quarter and nine months ended March 31, 2008, increased
15.5% and 14.9%, respectively, from the same periods in the prior year.
Consolidated net sales were favorably affected by the strength of foreign
currencies as compared to the U.S. dollar.  The favorable impact on
consolidated net sales of the change from the prior year in exchange rates
used to convert sales in foreign currencies into U.S. dollars was $1.8
million and $4.2 million for the quarter and nine months ended March 31,
2008, respectively.  The favorable impact on consolidated net earnings of the
change from the prior year in exchange rates used to convert foreign
currencies (primarily British pound sterling and Euros) to U.S. dollars was
$251,000 and $1.0 million for the quarter and nine months ended March 31,
2008, respectively.  The Company generated cash of $82.1 million from
operating activities in the first nine months of fiscal 2008, paid cash of
$47.8 million for the repurchase of common stock in the first nine months of
fiscal 2008 and had cash, cash equivalents and available-for-sale investments
of $281 million at March 31, 2008 compared to $256 million at June 30, 2007.

Net Sales

Consolidated net sales for the quarter and nine months ended March 31, 2008
were $69.5 million and $189.7 million, respectively, increases of $9.3
million (15.5%) and $24.6 million (14.9%) from the quarter and nine months
ended March 31, 2007.  Biotechnology net sales increased $6.0 million (15.2%)
and $14.6 million (13.5%), respectively, for the quarter and nine months
ended March 31, 2008.  Approximately $1.1 million and $1.8 million of the
increase in biotechnology net sales for the quarter and nine months ended
March 31, 2008 was a result of increased volume and timing of shipments to
diagnostic customers.  The timing of shipments to diagnostic customers is not
predictable and these sales increases are not necessarily indicative of
future sales.  Excluding sales to diagnostic customers, biotechnology net
sales increased 13.2% and 12.6% for the quarter and nine months ended March
31, 2008, respectively.

R&D Europe net sales increased $2.8 million (16.2%) and $9.1 million (20.0%)
for the quarter and nine months ended March 31, 2008. R&D Europe's net sales
increased 6.0% and 10.9% for the quarter and nine months ended March 31,
2008, respectively, when measured at currency rates in effect in the
comparable prior periods, mainly as a result of increased sales volume.

                                 11


Hematology sales increased $542,000 (14.8%) and $843,000 (7.7%) for the
quarter and nine months ended March 31, 2008.  The timing of shipments to OEM
customers positively impacted Hematology sales results during the quarter
ended March 31, 2008.

The Company has target annual sales growth rates for each of its business
segments.  The target sales growth rates, which are based on historical sales
growth, are 10%-12% for biotechnology, 7%-9% for R&D Europe (in constant
currency) and 1%-2% for hematology.  Based on the relative size of each
segment and current market conditions, the consolidated targeted annual
growth rate is 8%-10%, excluding the effect of changes in exchange rates.

Gross Margins

Gross margins, as a percentage of net sales, were as follows:

                                         QUARTER ENDED    NINE MONTHS ENDED
                                       ----------------  ------------------
                                       3/31/08  3/31/07   3/31/08   3/31/07
                                       -------  -------  --------  --------
Biotechnology                            79.8%    80.4%     79.8%     80.3%
R&D Europe                               56.9%    53.8%     56.1%     52.8%
Hematology                               41.4%    43.1%     40.8%     42.4%
Consolidated gross margin                79.7%    80.0%     79.4%     79.4%

Consolidated gross margins, as a percentage of net sales, decreased slightly
from 80.0% for the quarter ended March 31, 2007 to 79.7% for the quarter
ended March 31, 2008. The decrease for the quarter was mainly the result of
increased sales to diagnostic customers, which reduced biotechnology gross
margins from 80.4% for the quarter ended March 31, 2007 to 79.8% for the
quarter ended March 31, 2008.  This decrease was partially offset by
increased gross margins by R&D Europe for the quarter ended March 31, 2008 as
a result of favorable exchange rates.  Consolidated gross margins, as a
percentage of net sales for the nine months ended March 31, 2008 were 79.4%,
similar to the same prior-year period, with lower biotechnology margins
offset by increased gross margins by R&D Europe as a result of favorable
exchange rates and changes in sales mix as a result of higher sales growth in
biotechnology and R&D Europe as compared to the sales growth in the lower
margin hematology business.

The Company values its manufactured protein and antibody inventory based on a
two-year forecast.  Quantities in excess of the two-year forecast are
considered impaired and are not included in the inventory value. Sales of
previously impaired protein and antibody inventory for the quarter and nine
months ended March 31, 2008 and 2007 were not material.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for the quarter and nine months
ended March 31, 2008, increased $1.8 million (24.4%) and $4.6 million
(19.9%), respectively, from the same periods of last year.  Selling, general
and administrative expenses are composed of the following (in thousands):

                                         QUARTER ENDED    NINE MONTHS ENDED
                                       ----------------  ------------------
                                       3/31/08  3/31/07   3/31/08   3/31/07
                                       -------  -------  --------  --------
Biotechnology                          $ 5,257  $ 4,166  $ 15,415  $ 12,843
R&D Europe                               2,311    2,112     7,172     6,537
Hematology                                 489      431     1,443     1,268
Corporate                                  937      520     3,699     2,478
                                       -------  -------  --------  --------
Total selling, general and
  administrative expenses              $ 8,994  $ 7,229  $ 27,729  $ 23,126
                                       =======  =======  ========  ========

                                      12


The increase from the comparable prior-year periods was primarily the result
of the following (in thousands):

                                                   QUARTER
                                                   INCREASE    NINE MONTHS
                                                   (DECREASE)  INCREASE
                                                   ----------  -----------
Biotechnology:
 Profit sharing expense                                $  550      $ 1,031
 China selling, general and administrative expense        149          392
 Bad debt expense                                         124          124
R&D Europe:
 Change in exchange rates to convert British
  pounds to U.S dollars                                    27          310
Hematology:
 Profit sharing expense                                    70          125
Corporate:
 Legal fees                                               559          930
 Stock-based compensation expense                        (161)         196

The increase in profit sharing expense for the quarter and nine months ended
March 31, 2008 was the result of the increased sales and earnings from the
same prior-year periods.  Operations in China were established in late fiscal
2007, resulting in increased expenses in fiscal 2008.   The increase in legal
fees for the quarter and nine months ended March 31, 2008 was due to on-going
patent interference and infringement litigation.  The increase in stock-based
compensation expense for the nine months ended March 31, 2008, was due to an
increase in the number of stock options granted in fiscal 2008 compared to
fiscal 2007 as a result of expanding the Board of Directors by one member.
The remainder of the increase in selling, general and administrative expenses
for the quarter and nine months ended March 31, 2008, was mainly the result
of annual wage and salary increases and the hiring of additional marketing
and administrative personnel.

Research and Development Expenses

Research and development expenses are composed of the following (in
thousands):

                                           QUARTER ENDED    NINE MONTHS ENDED
                                         ----------------  ------------------
                                         3/31/08  3/31/07   3/31/08   3/31/07
                                         -------  -------  --------  --------
Biotechnology                            $ 5,640  $ 4,971  $ 16,010  $ 14,500
Hematology                                   199      198       572       568
                                         -------  -------  --------  --------
Total research and development expenses  $ 5,839  $ 5,169  $ 16,582  $ 15,068
                                        =======  =======  ========  ========

Interest Expense

On October 31, 2006, the Company repaid its mortgage debt.  Included in
interest expense for the nine months ended March 31, 2007 was a prepayment
penalty of $651,000 and $78,000 of unamortized loan origination fees.

                                    13


Other Non-operating Expense and Income

Other non-operating expense and income consists mainly of foreign currency
transaction gains and losses, rental income, building expenses related to
rental property, and the Company's share of losses by equity method
investees.

                                         QUARTER ENDED    NINE MONTHS ENDED
                                       ----------------  ------------------
                                       3/31/08  3/31/07   3/31/08   3/31/07
                                       -------  -------  --------  --------
Foreign currency (gains) losses        $  (462) $    42  $   (779) $     63
Rental income                              (91)     (55)     (269)     (595)
Real estate taxes, depreciation
 and utilities                             633      519     1,777     1,578
Losses by equity method investees          343      261       836       634
                                       -------  -------  --------  --------
Total other non-operating expense      $   423  $   767  $  1,565  $  1,680
                                       =======  =======  ========  ========

In February 2008, the Company invested an additional $300,000 in Hemerus
Medical, LLC (Hemerus).  The Company currently holds a 19% equity interest in
Hemerus and at March 31, 2008, the Company's net investment was $3.0 million.
The Company accounts for its investment in Hemerus using the equity method of
accounting because Hemerus is a limited liability company. The Company has
financial exposure to the losses of Hemerus to the extent of its net
investment in that entity.  Hemerus' success is dependent, in part, upon its
ability to raise financing and receiving Federal Drug Administration (FDA)
clearance to market its products.  If such financing or FDA clearance is not
received, the Company would potentially recognize an impairment loss to the
extent of its remaining net investment.

In fiscal 2007, the Company invested $7.2 million for an 18% equity interest
in Nephromics, LLC (Nephromics). The Company accounts for its investment in
Nephromics using the equity method of accounting because Nephromics is a
limited liability company.  At March 31, 2008, the Company's net investment
in Nephromics was $6.4 million. The Company has financial exposure to any
losses of Nephromics to the extent of its net investment in that entity.

In December 2007, the Company invested $1.4 million for a 19% interest in
ACTGen, Inc., a development stage biotechnology company located in Japan.
The Company has financial exposure to any losses of ACTGen, Inc. to the
extent of its investment in that entity.

Income Taxes

Income taxes for the quarter and nine months ended March 31, 2008 were
provided at rates of 31.2% and 32.7%, respectively, of consolidated earnings
before income taxes compared to 35.2% and 34.4% for the quarter and nine
months ended March 31, 2007, respectively.  The income tax rates for the
quarter and nine months ended March 31, 2008 decreased from the comparable
prior-year periods primarily as a result of changes in state apportionment
estimates.  U.S. federal taxes have been reduced by the credit for research
and development expenditures through December 2007, the benefit for
extraterritorial income through December 2006 and the manufacturer's
deduction available under the American Jobs Creation Act of 2004.  Foreign
income taxes have been provided at rates that approximate the tax rates in
the countries in which R&D Europe and R&D China operate. Without significant
business developments, the Company expects income tax rates for the remainder
of fiscal 2008 to range from approximately 33.0% to 34.0%.

                                    14



Liquidity and Capital Resources

At March 31, 2008, cash and cash equivalents and available-for-sale
investments were $281 million compared to $256 million at June 30, 2007.  The
Company believes it can meet its future cash, working capital and capital
addition requirements through currently available funds, cash generated from
operations and maturities of available-for-sale investments.  The Company has
an unsecured line of credit of $750,000.  The interest rate on the line of
credit is at prime.  There were no borrowings on the line in the prior or
current fiscal year.

Cash Flows From Operating Activities

The Company generated cash of $82.1 million from operating activities in the
first nine months of fiscal 2008 compared to $63.2 million in the first nine
months of fiscal 2007.  The increase from the prior year was primarily due to
an increase in consolidated net earnings in the current year of $14.1 million
and the changes in trade and other receivables and consolidated income taxes
payable during the nine months ended March 31, 2008 compared to the same
prior-year period.  The increase in trade accounts and other receivables
during the nine months ended March 31, 2008 of $2.5 million was less than the
increase of $5.1 million for the comparable prior-year period as a result of
the timing of accounts receivable collections.  Income taxes payable
increased during the nine months ended March 31, 2008 mainly as a result of
increased income taxes currently payable of $5.2 million partially offset by
increased tax deposits of $1.9 million from the same prior-year period.

Cash Flows From Investing Activities

Capital expenditures for fixed assets for the first nine months of fiscal
2008 and 2007 were $6.9 million and $4.3 million, respectively.  Included in
capital expenditures for the first nine months of fiscal 2008 and 2007 were
$4.6 million and $2.6 million, respectively, for building renovation and
construction.  The remaining capital additions in the first nine months of
fiscal 2008 and 2007 were for laboratory and computer equipment.  Capital
expenditures in the remainder of fiscal 2008 are expected to be approximately
$8.7 million, including approximately $8.2 million for the purchase of R&D
Europe's facility in the U.K.  Capital expenditures for the remainder of
fiscal 2008 are expected to be financed through currently available funds and
cash generated from operating activities.

During the nine months ended March 31, 2008, the Company purchased $42.9
million and had sales or maturities of $43.9 million of available-for-sale
investments. During the nine months ended March 31, 2007, the Company
purchased $34.2 million and had sales or maturities of $17.7 million of
available-for-sale investment.  The Company's investment policy is to place
excess cash in bonds and other investments with maturities of less than three
years.  The objective of this policy is to obtain the highest possible return
with minimal risk, while keeping the funds accessible.

During the nine months ended March 31, 2008, the Company invested $300,000 in
Hemerus and $1.4 million for a 19% interest in ACTGen, Inc., a development
stage biotechnology company located in Japan.  During the nine months ended
March 31, 2007, the Company invested $700,000 in Hemerus and $7.2 million in
Nephromics.  The investments were financed through cash and cash equivalents
on hand.

Cash Flows From Financing Activities

Cash of $2.6 million and $1.6 million was received during the nine months
ended March 31, 2008 and 2007, respectively, from the exercise of stock
options.  The Company also recognized excess tax benefits from stock option
exercises of $409,000 and $329,000 for the nine months ended March 31, 2008
and 2007, respectively.

                                  15


During the first nine months of fiscal 2008 and 2007, the Company purchased
23,641 shares and 22,400 shares of common stock, respectively, for its
employee stock bonus plans at a cost of $1.5 million and $1.2 million,
respectively.

During the first nine months of fiscal 2008, the Board of Directors
authorized the Company, subject to market conditions and share price, to
purchase an additional $150 million of its common stock.  During the first
nine months of fiscal 2008, the Company purchased and retired approximately
758,000 shares of common stock at a market value of $49.3 million of which
$47.8 million was disbursed prior to March 31, 2008.

The Company has never paid cash dividends and has no plans to do so in fiscal
2008.

Critical Accounting Policies

The Company's significant accounting policies are discussed in the Company's
Annual Report on  Form 10-K for fiscal 2007. The application of certain of
these policies require judgments and estimates that can affect the results of
operations and financial position of the Company.  Judgments and estimates
are used for, but not limited to, accounting for the allowance for doubtful
accounts, inventory valuation and allowances, impairment of goodwill,
intangibles and other long-lived assets, accounting for investments and
income taxes.  There have been no significant changes in estimates in fiscal
2008 which would require disclosure.  There have been no changes to the
Company's policies in fiscal 2008.

Recent Accounting Pronouncements
In December 2007, the Financial Accounting Standards Board (FASB) issued
Statement of Financial Accounting Standard (SFAS) No. 141 (revised 2007),
Business Combinations (SFAS No. 141R), which replaces SFAS No. 141. The
statement retains the purchase method of accounting for acquisitions, but
requires a number of changes, including changes in the way assets and
liabilities are recognized in the purchase accounting. It also changes the
recognition of assets acquired and liabilities assumed arising from
contingencies, requires the capitalization of in-process research and
development at fair value, and requires the expensing of acquisition-related
costs as incurred. SFAS No. 141R must be applied prospectively to business
combinations consummated by the Company beginning in fiscal 2010.

In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in
Consolidated Financial Statements, an Amendment of ARB No. 51 to establish
accounting and reporting standards for the noncontrolling interest in a
subsidiary and for the deconsolidation of a subsidiary.  Among other
requirements, SFAS No. 160 clarifies that a noncontrolling interest in a
subsidiary, which is sometimes referred to as minority interest, is to be
reported as a separate component of equity in the consolidated financial
statements.  SFAS No. 160 also requires consolidated net income to include
the amounts attributable to both the parent and the noncontrolling interest
and to disclose those amounts on the face of the consolidated statement of
income.  SFAS No. 160 must be applied prospectively by the Company beginning
in fiscal 2010, except for the presentation and disclosure requirements,
which will be applied retrospectively for all periods presented.

In September 2006, the FASB issued SFAS No. 157, Fair Value Measurements. The
Statement establishes a single authoritative definition of fair value, sets
out a framework for measuring fair value, and requires additional disclosures
about fair value measurements. SFAS No. 157 applies only to fair value
measurements that are already required or permitted by other accounting
standards and is effective for the Company in fiscal 2009. In February 2008,
the FASB deferred the effective date of SFAS No. 157 for one year as it
relates to the fair value measurement requirements for nonfinancial assets
and nonfinancial liabilities, except for items that are recognized or
disclosed at fair value in the financial statements on a recurring basis. The
Company is currently evaluating the impact of adopting SFAS No. 157.

                               16


Forward Looking Information and Cautionary Statements

This filing contains forward-looking statements within the meaning of the
Private Litigation Reform Act.  Forward-looking statements include those
regarding the Company's expectations as to target sales growth rates, the
ability to recover amounts invested in auction-rate securities, compensation
expense resulting from stock option expensing, the effective tax rate, plans
not to pay cash dividends, the sufficiency of currently available funds for
meeting the Company's needs and capital expenditures.  These statements
involve risks and uncertainties that may affect the actual results of
operations.  The following important factors, among others, have affected
and, in the future, could affect the Company's actual results:  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 (private
label) and proficiency survey business, the impact of currency exchange rate
fluctuations, 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, and the success of
financing efforts by companies in which the Company has invested.  For
additional information concerning such factors, see the Company's Annual
Report on Form 10-K as filed with the Securities and Exchange Commission.


     ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

At March 31, 2008, the Company had an investment portfolio of fixed income
securities, excluding those classified as cash and cash equivalents, of $118
million.  These securities, like all fixed income instruments, are subject to
interest rate risk and will decline in value if market interest rates
increase.

At June 30, 2007 and March 31, 2008, the Company held $18.7 million and $22.1
million par value, respectively, of investments in auction-rate securities,
all of which are rated A or above and which consist of specifically
identifiable tax-free municipal revenue bonds where the underlying credit can
be specifically evaluated and rated.  The Company classifies its auction-rate
securities as long-term available-for-sale investments.

In mid-February 2008, market auctions, including several in the Company's
auction-rate portfolio, began to fail due to insufficient buyers.  The
Company has determined that several of its investments in auction-rate
securities are temporarily impaired and has reduced the value of its auction-
rate investments to $19.6 million as of March 31, 2008.  The $2.5 million
reduction in value is reflected in accumulated other comprehensive income, a
component of shareholders' equity.  The Company continues to believe that it
will ultimately recover all amounts invested in these securities.  At April
30, 2008, the Company held $9.1 million of these securities, which are
carried at $6.6 million.

The Company operates internationally, and thus is subject to potentially
adverse movements in foreign currency rate changes. The Company is exposed to
market risk from foreign exchange rate fluctuations of the euro
(approximately 17% of consolidated net sales), the British pound sterling
(approximately 8% of consolidated net sales) and the Chinese yuan
(approximately 1% of consolidated net sales) to the U.S. dollar as the
financial position and operating results of the Company's U.K. subsidiary,
European operations and Chinese subsidiary are translated into U.S. dollars
for consolidation. At the current level of R&D Europe operating results, a
10% increase or decrease in the average exchange rate used to translate
operating results into U.S. dollars would have an approximate $2.5 million
effect on consolidated operating income annually.

                                  17



The Company's exposure to foreign exchange rate fluctuations also arises from
transferring funds from the U.K. and Chinese subsidiaries to the U.S.
subsidiary and from transferring funds from the German subsidiary and French
sales office to the U.K. subsidiary. At March 31, 2008 and 2007, the Company
had $4.0 million and $5.0 million, respectively, of dollar denominated
intercompany debt at its U.K. subsidiary and at March 31, 2008, the Company
had $542,000 dollar denominated intercompany debt at its Chinese subsidiary.
At March 31, 2008 and 2007, the U.K. subsidiary had $459,000 and $732,000,
respectively, of dollar denominated intercompany debt from its European
operations. These intercompany balances are revolving in nature and are not
deemed to be long-term balances.

The Company's subsidiaries recognized net foreign currency gains and (losses)
as follows (in thousands):

                                         QUARTER ENDED    NINE MONTHS ENDED
                                       ----------------  ------------------
                                       3/31/08  3/31/07   3/31/08   3/31/07
                                       -------  -------  --------  --------
In Native Currency
R&D Europe (British pound)                 230      (21)      407       (36)
R&D China (Chinese yuan)                    34       --      (311)       --

In U.S. Dollars
R&D Europe                             $   457  $   (42) $    820  $    (63)
R&D China                                    5       --       (41)       --
                                       -------  -------  --------  --------
                                       $   462  $   (42) $    779  $    (63)
                                       =======  =======  ========  ========

The Company does not enter into foreign exchange forward contracts to reduce
its exposure to foreign currency rate changes on intercompany foreign
currency denominated balance sheet positions.


                      ITEM 4 - CONTROLS AND PROCEDURES

As of the end of the period covered by this report, the Company conducted an
evaluation, under the supervision and with the participation of the principal
executive officer and principal financial officer, of the Company's
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-
15(e) under the Securities Exchange Act of 1934 (the "Exchange Act")).  Based
on this evaluation, the principal executive officer and principal financial
officer concluded that the Company's disclosure controls and procedures are
effective to ensure that information required to be disclosed by the Company
in reports that it files or submits under the Exchange Act is recorded,
processed, summarized and reported within the time periods specified in
Securities and Exchange Commission rules and forms. There was no change in
the Company's internal control over financial reporting during the Company's
most recently completed fiscal quarter that has materially affected, or is
reasonably likely to materially affect, the Company's internal control over
financial reporting.

                                  18



                       PART II. OTHER INFORMATION

                       ITEM 1 - LEGAL PROCEEDINGS

None.

                        ITEM 1A. - RISK FACTORS

There have been no material changes from the risk factors previously
disclosed in Part I, Item 1A, "Risk Factors," of the Company's Annual Report
on Form 10-K for the year ended June 30, 2007.


     ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table sets forth the repurchases of Company common stock for
the quarter ended March 31, 2008:
                                         Total Number of  Maximum
                                         Shares Purchased Approximate Dollar
                                         As Part of       Value of Shares
                 Total Number Average    Publicly         that May Yet Be
                 Of Shares    Price Paid Announced Plans  Purchased Under the
    Period       Purchased    Per Share  or Programs      Plans or Programs
---------------- ------------ ---------- ---------------- -------------------
01/1/08-01/31/08   169,273      $63.65       169,273        $125.4 million
02/1/08-02/29/08    95,587      $67.32        95,587        $119.0 million
03/1/08-03/31/08   172,441      $66.39       172,441        $107.5 million

In October 2002, the Company authorized the purchase and retirement of $20
million of its common stock of which $6.8 million remained at October 31,
2007.  In November 2007, the Company authorized the repurchase and retirement
of an additional $150 million of common stock.  The stock repurchase
authorization does not have an expiration date.


                 ITEM 3 - DEFAULTS UPON SENIOR SECURITIES

None.


           ITEM 4 - SUBMISSION OF MATTERS TO VOTE OF SHAREHOLDERS

None.


                      ITEM 5 - OTHER INFORMATION


None.

                           ITEM 6 - EXHIBITS

See exhibit index following.

                                     19



                                 SIGNATURES


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 thereunto duly authorized.

                                       TECHNE CORPORATION
                                       (Company)



Date:  May 9, 2008                      /s/ Thomas E. Oland
                                        ----------------------------------
                                        President, Chief Executive Officer

       May 9, 2008                      /s/ Gregory J. Melsen
                                        ----------------------------------
                                        Chief Financial Officer



                              EXHIBIT INDEX
                                   TO
                                FORM 10-Q

                             TECHNE CORPORATION

Exhibit #    Description
----------   --------------
31.1	Section 302 Certification

31.2	Section 302 Certification

32.1	Section 906 Certification

32.2	Section 906 Certification