Roche: buys out US genomic profiling firm in cancer push
(CercleFinance.com) - Roche has entered into a definitive agreement to take full control of genomic profiling company Foundation Medicine, buying out the remaining shares that it did not already own to accelerate its push in personalised oncology, the Swiss drugmaker said on Tuesday.
The 137 dollars offered for each FMI share corresponds to a total value of 2.4 billion dollars, valuing the company at 5.3 billion dollars, Roche said.
This price represents a premium of 29% to FMI's closing price on 18 June, it added.
The investment will help Roche develop personalised medicines and care for patients with cancer as FMI's genomic profiling assays identifies the molecular alterations in a patient's cancer and match them with targeted therapies, immunotherapies and clinical trials.
The deal is expected to close in the second half of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The 137 dollars offered for each FMI share corresponds to a total value of 2.4 billion dollars, valuing the company at 5.3 billion dollars, Roche said.
This price represents a premium of 29% to FMI's closing price on 18 June, it added.
The investment will help Roche develop personalised medicines and care for patients with cancer as FMI's genomic profiling assays identifies the molecular alterations in a patient's cancer and match them with targeted therapies, immunotherapies and clinical trials.
The deal is expected to close in the second half of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.