Roche to Acquire Biotech Company TIB Molbiol Group
September 09 2021 - 1:54AM
Dow Jones News
By Cecilia Butini
Roche Holding AG said Thursday that it has entered into a
definitive share purchase agreement to acquire 100% of the
outstanding shares in TIB Molbiol Group, a Germany-based
biotechnology company focused on diagnostics and research.
The Swiss pharmaceutical major said the acquisition, which is
expected to close in the fourth quarter of 2021, will enhance its
molecular-diagnostics portfolio, including the identification of
coronavirus variants.
"With this acquisition, we can expand our offering of tests of
existing pathogens and our response to emerging pathogens and
potential health threats," Thomas Schinecker, head of Roche
Diagnostics, said.
No financial details of the acquisition were disclosed.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
September 09, 2021 01:39 ET (05:39 GMT)
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