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Roche buys GenMark for $1.8 million to challenge test rivals

By Reuters Staff
3 Min Read
ZURICH (Reuters) - Roche is filling a testing portfolio gap by buying U.S.-based GenMark Diagnostics in a $1.8 billion deal that the Swiss pharmaceuticals manufacturer said taps one of the fastest-growing diagnostics areas.
FILE PHOTO: The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann
Basel-based Roche launched a cash offer for GenMark for $24.05 per share, a premium of 43% on GenMark’s Feb. 10 share price, before media deal speculation. The transaction should close in the second quarter.
GenMark makes “syndromic panel tests” to simultaneously detect multiple pathogens responsible for respiratory illnesses like pneumonia or the dangerous blood infection sepsis, an area Roche has sought to enter to challenge rivals like France’s bioMerieux. ....

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The Latest: 1st north Nevada case of UK variant is confirmed

The Latest: All Duke University undergrads must quarantine
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1of20FILE - In this Friday, Feb. 19, 2021, file photo, medical transporter Adrian Parrilla moves a patient into a COVID-19 unit at Mission Hospital in Mission Viejo, Calif. There are 3,250 people hospitalized statewide, a drop of more than 85% since peaking around 22,000 in early January, the state Department of Public Health reported Saturday, March 13, 2021.Jae C. Hong/APShow MoreShow Less
2of20People stroll in the Navigli popular area Milan, Italy, Saturday, March 13, 2021. From Monday most of Northern Italy will become red zone with stricter rules aimed at curbing the spread of Covid-19, which is skyrocketing due to the variants. (Claudio Furlan/LaPresse via AP)Claudio Furlan/APShow MoreShow Less ....

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The Latest: 5 EU nations seek talks on vaccine distribution

The Latest: All Duke University undergrads must quarantine
The Associated Press
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1of20FILE - In this Friday, Feb. 19, 2021, file photo, medical transporter Adrian Parrilla moves a patient into a COVID-19 unit at Mission Hospital in Mission Viejo, Calif. There are 3,250 people hospitalized statewide, a drop of more than 85% since peaking around 22,000 in early January, the state Department of Public Health reported Saturday, March 13, 2021.Jae C. Hong/APShow MoreShow Less
2of20People stroll in the Navigli popular area Milan, Italy, Saturday, March 13, 2021. From Monday most of Northern Italy will become red zone with stricter rules aimed at curbing the spread of Covid-19, which is skyrocketing due to the variants. (Claudio Furlan/LaPresse via AP)Claudio Furlan/APShow MoreShow Less ....

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Roche says adding Actemra to Gilead's remdesivir didn't cut COVID patient hospital stays

Roche says adding Actemra to Gilead's remdesivir didn't cut COVID patient hospital stays
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Roche withdraws US indication for Tecentriq in bladder cancer

Roche withdraws US indication for Tecentriq in bladder cancer
10th March 2021
Swiss pharma company Roche has announced that it will withdraw the US indication for Tecentriq in prior-platinum treated metastatic urothelial carcinoma (mUC, bladder cancer).
The US Food and Drug Administration (FDA) granted Tecentriq (atezolizumab) accelerated approval for this indication based on the results from the IMvigor210 study.
For continued approval in bladder cancer, Tecentriq had to yield positive results in this trial as part of the specific post-marketing requirements (PMR) set out by the FDA to confirm the clinical benefit of the immunotherapy.
However, the study did not meet its primary endpoint of overall survival in the PD-L1 high patient population. ....

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