Benzinga | Sep 9, 2021 07:10AM EDT

Roche Beefs Up PCR-Test Portfolio With TIB Molbiol Acquisition

* Roche Holdings AG (OTC:RHHBY) has agreed to acquire TIB Molbiol Group for an undisclosed amount. The deal is expected to close in Q4 of 2021.

* The acquisition will enhance Roche's portfolio of molecular diagnostics solutions with a wide range of assays for infectious diseases, such as identifying SARS-CoV-2 variants.

* TIB Molbiol's portfolio of over 45 CE-IVD assays and more than 100 research use assays are already available on Roche's installed base of LightCycler PCR systems and MagNA Pure sample preparation systems.

* The two companies have collaborated for more than 20 years to address critical healthcare needs.

* Price Action: RHHBY shares closed 1.42% lower at $48.49 on Wednesday.