Roche to buy US firm GenMark Diagnostics for $1.8 bn

Kathmandu : Swiss pharma giant Roche said Monday it is buying US firm GenMark Diagnostics for $1.8 billion (1.5 billion euros).
GenMark, based in California, makes molecular tests which can establish the presence of several different pathogens from just one sample, it said.

Roche said it is offering $24.05 a share for GenMark, a premium of some 43 percent to its last quoted share price on February 10.
“Acquiring GenMark Diagnostics will increase our portfolio of molecular diagnostic (tests),” the company said in a statement.

The deal, subject to regulatory approval, should be concluded in the second quarter, it added.