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Roche to buy US company GenMark Diagnostics

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ZURICH: Swiss pharmaceutical company Roche said on Monday it was going to buy US GenMark Diagnostic Company for about $1.8 billion.

GenMark, headquartered in California, specializes in molecular testing. After purchasing the company, Roche will be able to perform a variety of tests from a single sample.

According to a statement issued by Roche, GenMark is valued at. 24.05 per share. Roche said the purchase of GenMark Diagnostics would add a new dimension to the company’s molecular testing.

If approved by the regulatory body, the procurement process will be completed in the second quarter of the current year. -RSS