CAP TODAY Pathology/Laboratory Medicine/Laboratory Management
July 29, 2019–Exact Sciences and Genomic Health announced today that the companies have entered into a definitive agreement in which Exact Sciences will combine with Genomic Health for $2.8 billion. The two companies will create a worldwide cancer diagnostics company, joining its two brands Cologuard and Oncotype DX, respectively. The combined company expects to generate revenue of approximately $1.6 billion and gross profit of approximately $1.2 billion in 2020.
“Exact Sciences is continuing to grow sales and expand adoption of Cologuard at a rapid pace, and Genomic Health’s Oncotype DX is the global standard of care to inform treatment decisions for women with breast cancer,” Kevin Conroy, chairman and CEO of Exact Sciences, said in a joint press release. “Together, with our collective resources and broader platform, we will be able to provide our existing tests to more people while also accelerating the development and launch of future cancer diagnostic tests.”