Roche bets $1.2B on Foundation Medicine with deal for majority stake

Roche ($RHHBY) is throwing the full weight of its global rep and more than $1 billion behind Foundation Medicine's ($FMI) ambitious sequencing technology, designed to tailor cancer treatments to particular patients and guide development of new cancer drugs. Roche wrapped up a deal for a majority stake in the molecular diagnostics company for $780 million, or $50 a share--more than twice Friday's close of $23.93. Report

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