Roche is throwing the full weight of its global rep and more than a billion dollars behind Foundation Medicine’s ambitious sequencing technology for guiding the personalized treatment of cancer as well as the development of new oncology meds. The pharma giant has wrapped a deal to buy up a majority stake in the molecular diagnostics company for $780 million at $50 a share–a premium rate that’s more than twice Friday’s close of $23.93.

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Source: Roche gains a majority stake in Foundation Medicine with $1.2B deal


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