Roche bags full control of Foundation Medicine in $2.4B follow-up buyout
Whatever Foundation Medicine has been doing since Roche threw its weight behind an R&D collaboration three years ago, both partners are liking it. And now, Roche wants all of it, putting $2.4 billion more on the table.
The valuation of Cambridge, MA-based Foundation has grown quite a bit since Roche acquired a majority stake in January 2015 at $50 a share — a hefty premium then — with each share now costing the Swiss pharma giant $137. That’s 29% more than its closing price on Monday. Roche’s assessment of the company value: $5.3 billion.
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