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Roche tender offer for Illumina, Inc: $44.50 per share in cash

27-01-2012. Roche announced today that it has commenced a cash tender offer to acquire all outstanding shares of Illumina, Inc. (NASDAQ: ILMN). The offer and withdrawal rights are scheduled to expire at 12:00 midnight, New York City time, at the end of the day on February 24, 2012, unless the offer is extended. Under the terms of the offer, Roche is offering to acquire Illumina for $44.50 per share in cash, or an aggregate of approximately $5.7 billion on a fully diluted basis. This offer represents a premium of 64% over Illumina’s closing stock price on December 21, 2011 – the day before market rumors about a potential transaction between Roche and Illumina drove Illumina’s stock price significantly higher – a 61% premium over the one-month historical average and a 43% premium over the three-month historical average of Illumina’s share price, both as of December 21.


Roche’s offer is conditional upon, among other things, (i) the tender by Illumina’s stockholders prior to the expiration of the tender offer of a number of shares, which, together with the shares owned by Roche, represents at least a majority of the total number of shares outstanding on a fully diluted basis, (ii) the redemption of the preferred stock purchase rights associated with the shares or Roche’s satisfaction in its reasonable discretion that such rights have been invalidated or are otherwise inapplicable to the tender offer and the proposed merger, (iii) Roche’s satisfaction that the anti-takeover provisions of the Delaware General Corporation Law are inapplicable to the proposed merger and (iv) Illumina must not have entered into or effectuated any agreement or transaction with any person or entity having the effect of impairing Roche’s ability to acquire Illumina or otherwise diminishing the expected value to Roche of the acquisition of Illumina. If following the consummation of the offer Roche owns at least a majority of the outstanding

Source: Roche

 

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FDA clears Roche’s LightCycler® MRSA Advanced Test for use in the U.S.

Easy-to-use molecular test offers faster results to help healthcare facilities control spread of methicillin-resistant Staphylococcus aureus (MRSA)


09-07-2010. Roche Molecular Systems, Inc. (SIX: RO, ROG; OTCQX: RHHBY) announced today that the U.S. Food & Drug Administration (FDA) cleared its new LightCycler® MRSA Advanced Test for the detection of methicillin-resistant Staphylococcus aureus (MRSA) for clinical use in the United States. The LightCycler® MRSA Advanced Test is a qualitative in-vitro diagnostic test for the direct detection of nasal colonization with bacterial MRSA, and it is designed to aid in the prevention and control of MRSA infections in healthcare settings. Roche’s new real-time polymerase chain reaction (PCR) test delivers rapid results (within two hours) and appears to have better sensitivity compared to direct culture-based methods.
"It is important that healthcare professionals have access to MRSA testing technology that provides rapid and reliable results, allowing faster implementation of appropriate infection control measures,” said Paul Brown, Ph.D., president and CEO, Roche Molecular Diagnostics. “Roche’s new LightCycler® MRSA Advanced Test is designed to offer a simple, flexible, and reliable method for MRSA screening to support hospitals in the prevention of MRSA infections.”
High rates of infection, mortality, and high costs of treatment due to healthcare-associated infections (HAIs) caused by MRSA are a critical issue for healthcare facilities worldwide. In addition, community-associated MRSA (CA-MRSA) infection has spread in the U.S., feeding the pipeline of infection in hospitals, and underscoring the need for comprehensive infection control programs along with more rapid and reliable MRSA screening methods. In response to this public health issue, an increasing number of states have passed legislation requiring mandatory reporting and/or screening for HAI’s.
“The introduction of this new advanced test will expand the options healthcare facilities have for MRSA screening using molecular diagnostic methods,” said Lance Peterson, M.D., FASCP, epidemiologist and a founder of the MRSA screening program at NorthShore University HealthSystem in Evanston, Illinois. “The test showed good sensitivity with minimal hands-on time. Technicians now have the ability to have flexible batch sizes which could make it the cost-effective choice for many hospital laboratories.”


About methicillin-resistant Staphylococcus aureus (MRSA)
Methicillin-resistant Staphylococcus aureus (MRSA) is a type of bacterium that is resistant to certain antibiotics, such as methicillin, oxacillin, penicillin and amoxicillin. Staphylococcus aureus is one of the most frequently isolated bacteria from patients with healthcare-associated infections (HAIs). Estimates suggest that 2 million HAIs and 90,000 deaths are attributable to these infections each year in the U.S., and that between 5% and 10% of inpatients in U.S. hospitals acquire an HAI. (1) 
Antimicrobial resistance and HAIs, either combined or separately, constitute a major infectious disease problem in the U.S. and show signs of becoming more prevalent in the future. MRSA infections are a tremendous burden for healthcare systems and hospitals and are associated with significant healthcare costs. In 2007, the Centers for Disease Control and Prevention (CDC) estimated that HAIs were responsible for $4.5 to $5.7 billion in added healthcare costs each year.(1)  Experts generally believe that at least 20-30% of such infections are preventable, and molecular-based diagnostic tests to detect HAIs offer faster, sensitive methods to detect infections and prevent their spread. In the U.S. it is estimated that the market for molecular-based MRSA screening is estimated to be worth approximately $125 million in 2010 and growing at 20% per annum.


References:
1 http://www.cdc.gov/ncidod/dhqp/pdf/hicpac/infections_deaths.pdf. Public Health Reports, March-April 2007. Accessed July 2009.

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Disclaimer: You agree that B2Bioworld is not responsible and will not be held liable for any third party content on its sites or any third-party content, products or services available on other web sites accessed through links from B2Bioworld sites. Links to third-party sites are for your convenience only, and their inclusion on B2Bioworld's sites does not imply any endorsement, guarantee, warranty or representation by B2Bioworld.

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