Abbott Laboratories is in advanced discussions to acquire cancer diagnostics company Exact Sciences, as per media reports. A deal could be announced within days, though negotiations remain fluid and could still face delays or fall through, the report noted.
Exact Sciences’ shares surged nearly 25% following the news, lifting its market value above $13 billion, while Abbott’s stock slipped about 3% in afternoon trading. Abbott is currently reviewing potential transaction terms, according to the report.
Exact Sciences is best known for Cologuard, its flagship non-invasive colorectal cancer screening test. Unlike colonoscopy—which requires bowel preparation, sedation and a hospital visit—Cologuard can be completed at home, with patients mailing a stool sample to a laboratory for analysis.