(MENAFN) Swiss pharmaceutical giant Roche announced acquiring a majority stake in US molecular and genomic analysis business Foundation Medicine for an undisclosed sum, The Peninsula Qatar reported.
The acquisition is projected to help the world's largest manufacturer of cancer drugs to develop treatments in cancer immunotherapy. It launched an offer in February for up to 56.3 percent stake in the US firm.
"The shares purchased by Roche in the tender offer, when added to the shares already owned by Roche and its affiliates, approximately 57 percent of the outstanding shares of FMI's common stock," a statement said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.