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  • Date of publication: 31 August 2020
  • 1063
  • businessbuysale.com
  • Swiss pharmaceutical company Roche swallowed Foundation Medicine for $ 2.4 billion

    Synopsis

    Roche Holding bought out 44% of shares of American biotechnology company

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Description

Roche Holding bought out 44% of shares of American biotechnology company

 

According to Roche Holding, the Swiss company has established control over the American Foundation Medicine Inc. The report indicates that Roche acquires a 44% stake in FMI for $ 2.4 billion, whereas Roche previously bought a stake in FMI for $ 2.9 billion.

Foundation Medicine Inc. specializes in producing genomic tests for screening brain tumors. Roche expects through the purchase of Foundation Medicine to strengthen its position in the market of drugs and cancer treatment methods.

Roche Holding is a holding company for a group of pharmaceutical companies Roche Group. The group is based on the Swiss pharmaceutical company F. Hoffmann-La Roche, which is considered one of the world's leading companies in the field of pharmaceuticals and diagnostics. The group also includes Japanese Chugai, as well as American Genentech and Foundation Medicine.

Roche Holding was established in 1896 in Basel. The company is one of the leading manufacturers of biotechnological drugs in the field of oncology, virology, rheumatology and transplantology. Representations of the company are located in 150 countries.

 

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