Roche (RHHBY) Faces New Rivals in Genetic Diagnostic Testing
9/28/2012 8:02:02 AM
With gene testing all the rage, the two biggest makers of DNA sequencing equipment are about to snap up smaller players in an attempt to stake out a market expected to reach $8 billion by 2014 and $25 billion within a decade. Illumina Inc. (ILMN) and Life Technologies Corp. (LIFE)’s gene deciphering gear has helped revolutionize genetic testing. Now, the two companies are intent on entering the fast growing genetic diagnostics market on their own, putting them in direct competition with such giant players as Roche Holding AG (ROG) and Abbott Laboratories. Last week, Illumina bought BlueGnome Ltd. for an undisclosed sum, its first foray into the diagnostics market. Life Technologies, which has grown its gene-tool business through 9 acquisitions totaling $8.3 billion in the past 10 years, is also after small diagnostic businesses, most recently Navigenics Inc., which it acquired in July.