Roche has announced it will buy GenMark Diagnostics, a U.S.-based maker of molecular diagnostic tests in a $1.8 billion deal designed to boost the Swiss drugmaker's presence in the diagnostics market.
California-based GenMark provides molecular diagnostic tests that are designed to detect multiple pathogens from a single patient sample. The company's Respiratory Pathogen Panels identify the most common viral and bacterial organisms associated with upper respiratory infections, including SARS-CoV-2, complementing Roche's portfolio of COVID-19 diagnostics solutions.
The acquisition has been approved by the boards of both companies and is expected to be completed during the second quarter of 2021. After the deal, GenMark will continue to operate out of its current location in Carlsbad, California.
Read the press release