Roche drops $1.85B for GenMark's testing tech as pandemic,...

Roche drops $1.85B for GenMark's testing tech as pandemic, antibiotic resistance threats loomJason MastEditorRoche has only played a minor role in the hunt for Covid-19 drugs and vaccines. Instead, the Swiss giant made their influence in a field in which most of their rivals now play only bit parts: diagnostics. Three different Roche tests won a Covid-19 EUA over the past year.Now, they’re adding a slate of new tools to their testing arsenal, buying out GenMark Diagnostics for $1.85 billion.With the acquisition, Roche picks up a new way to detect multiple different infections with a single swab and a single platform, a technology that has been long been in development and previously deployed but whose benefits became particularly apparent in the past year. As the pandemic summer gave way to the pandemic fall, researchers feared Covid-19 and flu hitting at once — a combo that could inundate hospitals with patients who, based off their symptoms could have one of two different viruses (or both).advertisementadvertisementAlthough the so-called twindemic never appeared, the threat highlighted the need for versatile tests. GenMark uses flat, rectangular microfluidics devices that, when inserted into one of their machines, can detect DNA from a wide range of pathogens, including different strains of influenza, RSV and coronavirus. Another set of similar devices can detect a long list of bacterial and fungal infections in the blood.Thomas SchineckerIn a statement, Roche played up the ability to detect bacterial and fungal infections. At a time of growing antibiotic resistance and deadly fungal infections, the company said they could help scale and expand a technology that might save lives by identifying infections faster.GenMark’s “proven expertise in syndromic panel testing provides faster targeted therapeutic intervention, resulting in improved patient outcomes and reduced hospital stays, and will contribute to Roche’s commitment to helping control infectious diseases and antibiotic resistance,” Roche Diagnostics CEO Thomas Schinecker said in a statement. “The rapid identification of bloodstream infections and the detection of antimicrobial resistance genes are more essential than ever for hospitals and their patients.”Roche agreed to pay $24.05 per share, or a $5.05 premium on GenMark’s closing price Friday.