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Swiss Roche to invest USD1.2b in US Foundation Medicine
(MENAFN) Swiss pharmaceutical giant Roche said it would invest nearly USD1.2 billion for control of US molecular and genomic analysis firm Foundation Medicine, AFP reported.
The move comes as a bid to boost its personalized cancer treatment offerings. Roche said it aimed to buy up to 56.3 percent of the US company, a total of USD780 million.
As part of the deal, Roche has agreed to spend around $150 million funding FMI's cancer research and development efforts for at least five years, the Swiss company said.
"Understanding the comprehensive genomic profile of a cancer patient's disease will enable better personalized healthcare solutions to optimize treatment outcomes for patients," it said.
The move comes as a bid to boost its personalized cancer treatment offerings. Roche said it aimed to buy up to 56.3 percent of the US company, a total of USD780 million.
As part of the deal, Roche has agreed to spend around $150 million funding FMI's cancer research and development efforts for at least five years, the Swiss company said.
"Understanding the comprehensive genomic profile of a cancer patient's disease will enable better personalized healthcare solutions to optimize treatment outcomes for patients," it said.
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