Processing Magazine

Novartis Bids $470 Million for Cancer Diagnostic Firm Genoptix

January 24, 2011

Swiss drug maker Novartis AG is paying $470 million to acquire U.S. cancer diagnostic specialist Genoptix Inc., according to the Associated Press. Novartis will pay $25 per share to acquire all of the Carlsbad, California-based company''s outstanding stock. Genoptix specializes in diagnosing cancers in bone marrow, blood and lymph nodes. It had sales of $148 million during the first nine months last year.