Irish medical device giant Covidien over the weekend announced a definitive agreement to acquire PillCam maker Given Imaging for $860 million, ending about a year of takeover talk.
The FDA backs a market that lets consumers easily gain information about their genomes and genetic risks, an agency official said, despite its move to stop 23andMe from selling its direct-to-consumer health-related genetic tests until they obtain formal regulatory approval.
Boston Children's Hospital spinout Claritas Genomics, a genetic diagnostic testing company, attracted an investment from IT specialist Cerner, and the two will collaborate to develop a computing infrastructure designed to smooth the diagnostic process from start to finish.
Switzerland's Biocartis will link up with Belgium's VIB research institute to develop a diagnostic test useful for colorectal and other cancers, the company said.
Amid scorn and scrutiny from the FDA, 23andMe is facing a class-action lawsuit claiming the company misled customers in selling genetic tests with no real scientific value, and plaintiffs want at least $5 million in damages.
23andMe has stopped advertising its personal genetic test after a strongly worded rebuke from the FDA, Reuters reports, but the company is still selling its $99 kit despite the agency's demands.
Now that the FDA has fired off a strongly worded rebuke of its Personal Genome Service, 23andMe is standing by the accuracy of its un-approved test, promising to work with regulators but giving no indication that it'll stop selling its sole product.
Veracyte released its first quarterly earnings report as a public company this week, and the molecular diagnostics company has a lot to celebrate. Revenue reached $5.6 million for the 2013 third quarter, up 74% from $3.2 million booked over the same period a year ago.
Becton Dickinson's board of directors boosted its quarterly dividend to 54.5 cents per common share, up 10% from the previous quarter.
Now that activist investor Carl Icahn has shown his hand of Hologic shares, the sluggish diagnostic giant is likely to attract some buyout attention, and analysts are split on whether the company should sell itself outright or flip its individual units.