Swiss pharmaceutical giant Roche has experienced an improved revenue this year. However, it also saw a decline in market cap as its invetors remain cautious on broader industry factors.
Last July, when Federal Reserve Chair Janet Yellen spurred a sell-off in healthcare stocks by saying that valuations in shares of biotech companies looked "stretched," portfolio manager Graham Tanaka saw an opportunity.
Roche has boosted its efforts to tackle antibiotic resistance, striking a deal worth up to $750 million with Japan's Meiji Seika Pharma and Canada's Fedora for a drug that can restore the power of antibiotics to combat infections.
Roche said on Tuesday it will acquire San Jose, CA-based Ariosa Diagnostics, Inc., a molecular diagnostics firm which makes a prenatal test to assess the risk of Down syndrome and other genetic abnormalities.
AstraZeneca moved to strengthen its core oncology business on Tuesday with three deals designed to expand the British drugmaker's reach in treating tumors.
Dublin, Ireland-based global communications services firm WPP Digital picked up a majority stake in London, UK-based digital consultancy firm Cognifide for an undisclosed sum in a deal that will deliver mutual benefits to both companies.
Boston, US-based enterprise software maker Mendix nabbed $25 million in venture capital funding led by Battery Ventures to fuel its mission to build a big business in the software industry.
Roche Chief Executive Officer Severin Schwan said the founding families of Roche Holding would prefer to remain independent.
Alexion Pharmaceuticals Inc sought potential buyers however investors raised concerns about the valuation of the company.
Roche buys CMI, pushing Roche even further as the industry leader for laboratory hematology testing.