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Does the 23andMe Acquisition Make Regeneron a Buy Now?
Have you ever wondered if an established drugmaker could do better at genetics-guided research than a consumer-focused diagnostics business? Well, we could find out.Recently, Regeneron (NASDAQ: REGN) entered an agreement to acquire 23andMe for $256 million, which is a tiny fraction of its previous market value. You might remember that the genetic testing company filed for Chapter 11 bankruptcy protections in March.Regeneron's purchase is still subject to court approval. If it gets a green light, as expected, the company could gain access to genetic data from more than 15 million 23andMe customers worldwide.Continue reading
Have you ever wondered if an established drugmaker could do better at genetics-guided research than a consumer-focused diagnostics business? Well, we could find out.
Recently, Regeneron (NASDAQ: REGN) entered an agreement to acquire 23andMe for $256 million, which is a tiny fraction of its previous market value. You might remember that the genetic testing company filed for Chapter 11 bankruptcy protections in March.
Regeneron's purchase is still subject to court approval. If it gets a green light, as expected, the company could gain access to genetic data from more than 15 million 23andMe customers worldwide.
