Abbott Acquires Cancer-Screening Company Exact Sciences

labmedica.com/expo/company/4671/abbott-diagnostics/products" target="_blank">Abbott (Abbott Park, IL, USA) has entered into a definitive agreement to acquire Exact Sciences (Madison, WI, USA), enabling it to enter and lead in fast-growing cancer diagnostics segments. 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.

Approximately 20 million people globally 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 focuses on the early detection of cancer and supporting personalized treatments. The company’s comprehensive product offerings support patients and their healthcare providers before, during, and after a cancer diagnosis. Exact Sciences offers solutions in cancer screening, precision oncology, and genetic testing that help detect cancer earlier, guide treatment decisions, and monitor for recurrence.

The company’s product offerings include the Cologuard test for noninvasive colorectal cancer screening; Oncotype DX for informing personalized treatment decisions for patients with breast cancer; Oncodetect for identifying molecular residual disease (MRD) to help assess the risk of recurrence and guide follow-up care; and the Cancerguard multi-cancer early detection blood test. In addition to its current products, Exact Sciences is also advancing a pipeline of next-generation cancer diagnostics designed to detect cancer even earlier, optimize treatment decisions, and enable regular monitoring to help people stay healthy and better manage the disease.

Abbott’s acquisition of Exact Sciences adds a new growth vertical to its already high single-digit growth profile, gaining leadership in the fast-growing USD 60 billion U.S. cancer screening and precision oncology diagnostics segments. The acquisition will uniquely position Abbott to transform cancer care, advancing earlier detection and optimizing treatment and monitoring to help millions more people live healthier lives

"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."

"Together with Abbott, we can reach more patients, advance earlier detection, and deliver answers that change lives," added 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."

Related Links:
Abbott
Exact Sciences