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Exact Sciences (EXAS) Stock: Abbott to Acquire Cancer Diagnostics Company for $21 Billion
In a significant announcement, Abbott Laboratories has revealed plans to acquire cancer diagnostics company Exact Sciences (EXAS) in an all-cash deal worth $21 billion. The acquisition is expected to close in the second quarter of 2026.
Under the terms of the agreement, Exact Sciences shareholders will receive $105 per share in cash, representing a premium of approximately 21.8% over Wednesday’s closing price of $86.18. This significant increase has sent shares of EXAS soaring more than 17% to $101.40 in premarket trading.
The acquisition is expected to strengthen Abbott’s diagnostics portfolio and expand its capabilities in the growing cancer diagnostics space. The deal will also boost the company’s revenue, which is expected to exceed $12 billion annually once the transaction is complete.
Exact Sciences brings with it two key products, Cologuard and Oncotype DX. Cologuard is a non-invasive colorectal cancer screening test that allows patients to screen from the comfort of their own homes by sending in a stool sample for analysis. This innovative approach has driven strong adoption of the product, and Abbott sees significant potential for growth.
Oncotype DX is a diagnostic tool used to assess early-stage breast cancer treatment options. The acquisition will further solidify Abbott’s position as a leader in the diagnostics industry, providing a critical solution to patients, clinicians, and healthcare systems worldwide.
The combined company will be focused on delivering transformative treatments that improve patient outcomes and address unmet medical needs. Exact Sciences’ CEO Kevin Conroy is expected to remain with the company in an advisory capacity, ensuring continuity throughout the integration process.
Following the completion of the transaction, Abbott’s diagnostics business will become a significant contributor to the company’s overall revenue. This addition will not only expand its capabilities but also enable the company to explore new opportunities and create value for shareholders.
The acquisition is expected to close after receiving the necessary approvals from regulatory bodies and Exact Sciences’ shareholder approval.
Source: blockonomi.com
