Roche lines up at the FDA's 10-yard line with $1.7B Ignyta buyout
Cancer drug powerhouse Roche $RHHBY has swooped in to buy Ignyta $RXDX for $1.7 billion, putting the pharma giant in direct competition with Loxo Oncology $LOXO and its new partners at Bayer.
Ignyta has been grabbing the attention of a booming field with its work in ROS1 and NTRK fusion-positive tumors, winning the FDA’s breakthrough status last May. And it’s engaged in a pivotal Phase II study for its lead drug entrectinib that could put Roche on the 10 yard line at the FDA.
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