What Roche's Terminated Deal With Pacific Biosciences May Mean for Illumina
While Illumina shares have mounted a solid rally recently off of good news from the JP Morgan Healthcare conference, shares are still down around 6% over the last year. However, recent news regarding a competing company may be a glimmer of hope for this giant of genomics. Last month, Pacific Biosciences of California, Inc. announced that pharma giant Roche had elected to terminate its development, commercialization, and license agreement for the development of supply diagnostic products with Pacific Biosciences. As Pacific Biosciences is one of only a handful of companies which operate within the genome sequencing market, this blow for Pacific Biosciences could provide a boon for Illumina's future market dominance.