Abbott and Exact Sciences have announced a definitive agreement for Abbott to acquire Exact Sciences, positioning the company to enter and lead the rapidly growing cancer diagnostics market and reach millions more patients. Under the terms of the agreement, Exact Sciences shareholders will receive $105 per share, representing a total equity value of approximately $21 billion.
Together, the companies will accelerate innovation, expand access to life-changing diagnostics, and help more people detect and manage cancer at its earliest, most treatable stages.
Exact Sciences focuses on the early detection of cancer and supporting personalized treatments. Exact Sciences’ comprehensive product offerings support patients and their healthcare providers before, during and after a cancer diagnosis. The company is a leader in cancer screening, precision oncology and genetic testing, helping to detect cancer earlier, guide treatment decisions and monitor for recurrence.
Its product offerings include the Cologuard® test, a market-leading noninvasive colorectal cancer screening option; Oncotype DX®, which informs personalized treatment decisions for patients with breast cancer; Oncodetect™, which identifies molecular residual disease (MRD) to help assess the risk of recurrence and guide follow-up care; and Cancerguard™, a multi-cancer early detection blood test.
Approximately 20 million people globally, including 2 million Americans, are diagnosed with cancer every year. These numbers are only expected to rise in the coming years due to population growth, aging and other contributing factors.*
“Exact Sciences’ innovation, its strong brand and customer-focused execution are unrivaled in the cancer diagnostics space, and its presence and strengths are complementary to our own,” said Robert B. Ford, chairman and chief executive officer, Abbott. “Abbott has repeatedly taken on the world’s most challenging health issues and made a meaningful impact on the lives of people in areas such as diabetes, cardiovascular disease and infectious diseases. We’re excited to bring Exact Sciences’ people and know-how into Abbott so that together, we can take on the global challenge of cancer.”
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“Together with Abbott, we can reach more patients, advance earlier detection, and deliver answers that change lives,” said Kevin Conroy, chairman and chief executive officer, Exact Sciences. “Abbott’s culture of innovation and global commercial reach will help accelerate our mission of eradicating cancer and expanding access to our tests worldwide, while delivering immediate and substantial value to our shareholders. I want to thank the 7,000 Exact Sciences’ team members for their extraordinary work and dedication — our journey has just begun.”
