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Roche Pushes Personalization With $2.4Bn Foundation Buy-Out

 
• By Kevin Grogan

By picking up the rest of Foundation Medicine, which is now valued at $5.3bn, the Swiss giant is expanding its leadership in cancer diagnostics, genomics and molecular information for personal medicine.

Roche's strategy of pursuing a personalized healthcare approach for its oncology drug development has moved on apace with the decision to spend $2.4bn to buy the remainder of molecular information company Foundation Medicine.

The Swiss major acquired a 56% stake in Foundation at the beginning of 2015 for $50 per share, or around $1bn, which at the time represented a whopping premium of around 109%. Three and a half years later, it is paying $137 per share, which is a premium of 29% to the US firm's closing price on July 18 (and up 47% and 68% on its 30-day and 90-day average share price), valuing the latter at $5.3bn

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