Swiss drugmaker Roche said on Friday it would buy U.S. cancer drugmaker Ignyta Inc for $1.7 billion.
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Roche will buy all of Ignyta’s outstanding shares for $27 each, representing a premium of about 74 percent to its closing price on Thursday.
Reuters reported earlier this week that Ignyta was in advanced talks to sell itself.
(Reporting by Parikshit Mishra in Bengaluru; Editing by Gopakumar Warrier)
