Biotech Values

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Roche to buy rest of Foundation Medicine

Swiss drugmaker Roche (OTCQX:RHHBY) has agreed to pay $137 per share to buy the rest of Foundation Medicine (NASDAQ:FMI), a $2.4B transaction that values the U.S. company at $5.3B.

The offer represents a premium of 29% to FMI's closing price on Monday.
Foundation Medicine offers comprehensive genomic profiling assays to identify molecular alterations in a patient's cancer and match them with targeted therapies, immunotherapies and clinical trials.