Abbott Laboratories announced on Thursday that it is acquiring diagnostics company Exact Sciences Corp. for $105 per common share and a total value of around $21 billion. The transaction is expected to close in the second quarter of 2026, after which Exact Sciences will become a subsidiary of Abbott. According to the statement, the deal will see Abbott's total diagnostics sales exceed $12 billion annually.
"Exact Sciences' innovation, its strong brand and customer-focused execution are unrivaled in the cancer diagnostics space, and its presence and strengths are complementary to our own," Abbott CEO Robert Ford said.
Abbott's shares fell by 1.70% in the premarket trade after the announcement, while Exact Sciences surged 17.20%.
https://breakingthenews.net/Article/Abbott-to-buy-Exact-Sciences-for-dollar21-billion/65223577
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