Biotech Values

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M&A: Roche Buys RXDX to strength oncology pipeline. 74% premium
• Looking to broaden its oncology portfolio, Swiss healthcare firm Roche (OTCQX:RHHBY) is buying U.S. cancer drugmaker Ignyta (NASDAQ:RXDX) for $1.7B.
• Roche will pay $27 per share for Ignyta, representing a premium of about 74% to the stock's closing price on Thursday.
• The U.S. company has a suite of drugs in early stage development that use gene therapy to kill off underlying diseases that drive cancer tumor growth.