Roche buys US diagnostics company IQuum in $567 million deal

Roche buys US diagnostics company IQuum in $567 million deal
A logo of Swiss pharmaceutical company Roche is pictured in front of a company's building in Rotkreuz, April 12, 2012.

ZURICH - Swiss drugmaker Roche has agreed to buy privately-held US diagnostics company IQuum in a deal worth up to US$450 million (S$567 million) to strengthen its molecular diagnostics business.

The Basel-based firm said it will pay IQuum shareholders US$275 million upfront and up to US$175 million in contingent product-related milestones. "With IQuum, we further strengthen our molecular diagnostics offerings with cutting-edge technology and products that serve the point of care segment," said Roland Diggelmann, head of Roche's diagnostics division, in a statement on Monday.

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