Roche to Acquire Biotech Company TIB Molbiol Group

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. https://www.marketscreener.com/quote/stock/ROCHE-HOLDING-AG-9364975/news/Roche-to-Acquire-Biotech-Company-TIB-Molbiol-Group-36380114/