From Our Partners
Sunday, June 26, 2022
News on Pathogens and Preparedness
Global Biodefense
  • Featured
  • COVID-19
  • Funding
  • Directory
  • Jobs
  • Events
  • Subscribe
No Result
View All Result
  • Featured
  • COVID-19
  • Funding
  • Directory
  • Jobs
  • Events
  • Subscribe
No Result
View All Result
Global Biodefense
No Result
View All Result
Home Industry News

Roche Continues Hostile Takeover Efforts at Illumina

by Global Biodefense Staff
April 5, 2012

An eagerly anticipated vote at the Annual General Meeting of Illumina shareholders on April 18, 2012 will bring to a head the hostile takeover campaign underway by Roche Holding AG.  After Illumina rejected initial offers, Roche raised the stakes last week by increasing the price offered per share by 15 percent to a total of about $6.7 billion. Illumina, a California based maker of gene-mapping tools and diagnostics, has until 6 p.m. on April 20 to tender their stock at $51 a share.

The Basel-headquartered Roche group issued a second letter to shareholders urging them to accept its bid and vote for its nominees at the meeting. The Illumina board countered with its own (and third) appeal to shareholders urging stockholders to reject Roche’s efforts to acquire the firm, noting that that Illumina’s next-generation sequencing technology was poised as a leading player in research and clinical settings.

In the letter, Illumina says that “the molecular diagnostics space alone represents a $3 billion long-term growth opportunity” and its platforms “are already being adopted by leading diagnostic reference labs such as Sequenom, Genomic Health, Partners Healthcare and many others”.  Illumina is partnering with firms such as Siemens Healthcare, deCode Genetics and the Fred Hutchinson Cancer Center to develop diagnostic kits that they believe will eventually be used in thousands of hospital labs worldwide.

The board concluded that that future market opportunties were very positive. “Assuming a $1,000 cost per genome and only 1% penetration, (opportunties) could easily result in more than $600 million of new revenue for Illumina”.

In addition to commercial markets, Illumina has a widespread presence across federal research laboratories including the USDA Agriculture Research Service, the National Institutes of Allergy and Infectious Diseases, Environmental Protection Agency, Animal and Plant Health Inspection Service, U.S. Army Medical Reasearch Institute of Infectious Diseases and the Centers for Disease Control.

From Our Partners

Related Posts

Biodefense Industry News
Industry News

Tonix Pharmaceuticals Opens Advanced Development Center for Vaccine Programs

June 20, 2022
Novavax Missed Its Global Moonshot but Is Angling to Win Over mRNA Defectors
Industry News

Novavax Missed Its Global Moonshot but Is Angling to Win Over mRNA Defectors

May 26, 2022
Rapid COVID-19 PCR Test Developed at Northwestern Receives FDA Emergency Use Authorization
Biodetection

Rapid COVID-19 PCR Test Developed at Northwestern Receives FDA Emergency Use Authorization

March 19, 2022
There’s No Such Thing as Just-in-Time Healthcare and Public Health Preparedness
Industry News

Appili Awarded $10M in New Biodefense Funding for Tularemia Vaccine Candidate

March 3, 2022
Load More

Latest News

Poliovirus Detected in London Sewage: Response Measures Emphasize Wastewater Surveillance and Vaccination Gaps

Poliovirus Detected in London Sewage: Response Measures Emphasize Wastewater Surveillance and Vaccination Gaps

June 22, 2022
Monkeypox Diagnostics: CDC Authorizes Five Commercial Lab Companies

Monkeypox Diagnostics: CDC Authorizes Five Commercial Lab Companies

June 22, 2022
UK Health Security Agency Widens Monkeypox Vaccine Umbrella for Outbreak Control

UK Health Security Agency Widens Monkeypox Vaccine Umbrella for Outbreak Control

June 21, 2022
Influenza Research

New Way to Identify Influenza A Virus Lights Up When Specific Virus Targets are Present

June 20, 2022

Subscribe

  • About
  • Contact
  • Privacy
  • Subscribe

© 2022 Stemar Media Group LLC

No Result
View All Result
  • Featured
  • COVID-19
  • Funding
  • Directory
  • Jobs
  • Events
  • Subscribe

© 2022 Stemar Media Group LLC