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Drugmaker Roche to buy US' cancer medicine specialist Ignyta for $1.7 bn

Ignyta will continue its operations in San Diego and will be responsible for the ongoing pivotal study of entrectinib

Reuters 

Swiss drugmaker Roche will buy US cancer drugmaker Ignyta Inc for $1.7 billion to broaden its oncology portfolio globally, the companies said on Friday. Roche would pay $27 per share for Ignyta, representing a premium of about 74 percent to the stock's closing price on Thursday, they said. Ignyta will continue its operations in San Diego and will be responsible for the ongoing pivotal study of entrectinib, its most advanced drug. The US company has a suite of drugs in early stage development that use gene therapy to kill off the underlying diseases that drive cancer ...

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First Published: Fri, December 22 2017. 13:29 IST
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