Regeneron rises on deal to buy 23andMe for $256 million
ReutersMay 19, 2025 1:28 PM
Shares of drugmaker Regeneron Pharmaceuticals REGN.O rise 2% to $606 premarket
REGN says it has agreed to buy bankrupt genetic testing firm 23andMe Holding for $256 million
The agreement excludes the purchase of 23andMe's telehealth service Lemonaid Health
23andMe's bankruptcy proceedings had drawn scrutiny from lawmakers who warned that genetic data of millions of customers could be sold to unscrupulous buyers
Regeneron says it will comply with 23andMe's privacy policies and applicable laws with respect to the use of customer data and that it is ready to detail its intended use of the data to a court-appointed overseer
As of last close, REGN down 16.6% YTD
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