GENEVA (AP) — Swiss drug maker Roche plans to buy IQuum,
Inc., a U.S. company that specializes in molecular diagnostics and
sample testing, in a deal worth up to $450 million.
Roche said
Monday that it will pay $275 million upfront for the privately held
IQuum, based in Marlborough, Massachusetts. It said further payments of
up to $175 million are dependent on "product-related milestones."
Once the acquisition is complete, Roche plans to integrate IQuum into its Roche Molecular Diagnostics
division.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
GENEVA (AP) — Swiss drug maker Roche plans to buy IQuum,
Inc., a U.S. company that specializes in molecular diagnostics and
sample testing, in a deal worth up to $450 million.
Roche said
Monday that it will pay $275 million upfront for the privately held
IQuum, based in Marlborough, Massachusetts. It said further payments of
up to $175 million are dependent on "product-related milestones."
Once the acquisition is complete, Roche plans to integrate IQuum into its Roche Molecular Diagnostics
division.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.