Novartis to acquire Genoptix

Novartis AG (NYSE:NVS; SIX:NOVN) will acquire diagnostic service company Genoptix Inc. (NASDAQ:GXDX) for $25 per share in cash, or about $470 million. The price is a 27% premium to Genoptix's Friday close of $19.76, before the deal was announced. Genoptix, which will become part of Novartis Molecular Diagnostics, markets personalized diagnostic services for hematology and cancer. Genoptix had revenues of $148 million for the first nine months of 2010. Novartis said the acquisition will support the development of its companion diagnostics programs, especially in cancer. ...