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Novartis To Acquire Genoptix

Diagnostics firm to join MDx unit

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis has entered into a definitive merger agreement to acquire Genoptix, Inc. Novartis will commence an all cash tender offer for all outstanding shares of common stock of Genoptix at $25 per share, giving the transaction an equity value of approximately $470 million and an enterprise value of $330 million. The cash offer price represents a premium of 27% premium over Genoptix’ closing price from January 21, 2011. The transaction is expected to close within the first half of 2011. ...

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