RHHBF - Roche scoops up COVID test maker GenMark for $1.8B

In a deal that will boost its diagnostics products, Roche (RHHBF) has agreed to buy GenMark Diagnostics (GNMK) for about $1.8B.The transaction is Roche's largest since the Swiss drugmaker bought Spark Therapeutics in 2019.GenMark investors will get $24.05 a share in cash, marking a 30% premium to Friday's closing price. Shares are up 30.4% premarket.In January, GenMark said it expects to report revenue of about $171M for 2020, representing an increase of approximately 95% over 2019.

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Roche scoops up COVID test maker GenMark for $1.8B