Jay Flatley News
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Illumina Inc. and nine of its board members were sued in New York over the gene-sequencing equipment maker’s rejection of a $6.7 billion buyout bid from Roche Holding AG.
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Roche Holding AG’s $6.7 billion public bid to buy Illumina Inc. stopped the gene-sequencing company’s board from discussing what price would be acceptable and may have scuttled a possible deal, according to Chief Executive Officer Jay Flatley.
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Roche Holding AG Chairman Franz Humer may have put a lid for now on a year’s worth of speculation by telling a Swiss newspaper that a Roche deal to buy U.S. genetics company Illumina Inc. is off the table. Illumina shares fell the most in 15 months.
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Genetic testing from Illumina Inc. and Life Technologies Corp. have spurred broad changes in the development of new medicines. Now, this research may also help farmers reduce the cost of producing milk.
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On the fourth floor of a red brick medical building in Boston’s South End is an office where few want to go -- where people get a frequently unwelcome glimpse of their future through a careful reading of their DNA.
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Roche Holding AG still wants to expand in gene sequencing after this year’s failed effort to buy Illumina Inc. and is looking at potential deals, Chief Executive Officer Severin Schwan said.
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Jay Flatley, the Illumina Inc. chief executive who lifted revenue from $1 million to $1 billion over 12 years, persuaded investors to support his rejection of Roche Holding AG’s takeover bid.
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By the time his twins Noah and Alexis were 12 years old, Joe Beery and his wife Retta had spent a decade trying to figure out what made their children so ill. After Joe took a job at Life Technologies Corp., a California company that makes DNA sequencers, their luck turned.
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With gene testing all the rage, the two biggest makers of DNA sequencing equipment are about to snap up smaller players in an attempt to stake out a market expected to reach $8 billion by 2014 and $25 billion within a decade.
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The race to parse the building blocks of life has accelerated with competing reports from Life Technologies Corp. and Illumina Inc. that they’ve built machines that can sequence a genome in a day, rather than weeks or months.
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