[ad_1]
The Swiss pharmaceutical company signed a corresponding acquisition agreement with the US provider of diagnostic solutions. After the offer, $ 24.05 per share will be paid. This corresponds to a premium of about 43 percent over GenMark’s closing price on February 10, the last trading day before speculation arose about a possible sale. The transaction has already been approved by the boards of both parties and is expected to close in the second quarter.
“With the acquisition of GenMark Diagnostics, we are expanding our molecular diagnostics portfolio with solutions that can rapidly deliver life-saving information to patients and their caregivers in the fight against infectious diseases,” said Thomas Schinecker, director of Roche Diagnostics.
After the acquisition, GenMark will remain headquartered in Carlsbad, California, according to Roche.
This is how Roche’s shares react
With the acquisition of the American diagnostic company GenMark, the pharmaceutical company Roche is taking a strategically sensible step and is being rewarded for it by the market. Since profit sharing certificates weren’t particularly easy to hold recently, they are among the most popular blue tokens at the beginning of the week.
At the end of the trade, the Roche Bons had gained 2.07 percent to CHF 310.80.
In their initial comments, analysts react positively to the plans. This is how Roche Diagnostics can expand the catalog offering, according to Mirabaud, for example.
For the expert in charge of Bryan Garnier, the acquisition confirms the Group’s will to grow and expand in the molecular diagnosis of infectious diseases. He sees the move as a serious threat to other players, starting with BioMerieux. Especially since Roche is known to be very sensible when it comes to pricing, which could create some kind of general price pressure in this area starting in the fall of 2021 and expanding from 2022.
The acquisition also featured capital gains from Vontobel. “From our point of view, today’s acquisition makes sense, as it adds a new type of test technology that is modular and scalable and, based on Roche Diagnostics’ own solutions, allows minimal time and flow of optimized work from order to report “. it says there.
ZÜRICH (Dow Jones)
