Abbott in talks to buy exact sciences as cologuard maker’s shares jump

Medical device company Abbott Laboratories is close to buying cancer-test maker Exact Sciences, Bloomberg News reported citing people familiar with the matter. The report said the deal could be announced in the next few days, but the talks are still happening and could be delayed or even fall apart.

Exact Sciences’ shares jumped nearly 25% after the report, while Abbott’s shares fell 3% in afternoon trading. Abbott is currently discussing the transaction terms with Exact Sciences. Both companies did not respond to Reuters’ requests for comment.

Exact Sciences cancer test

Exact Sciences’ main product is Cologuard. It is a simple test to check for colorectal cancer. It is easier than a colonoscopy. A colonoscopy needs you to clean your stomach, take sedation, and go to a clinic. But Cologuard can be done at home. You only need to mail your stool sample to a lab.


Colorectal cancer is the second biggest cause of cancer deaths in the world, says the WHO. Another report from Investing.com said Exact Sciences’ stock went up more than 21% on Wednesday after Bloomberg said there were takeover talks.

Abbott takeover talks

People who know about the situation told Investing.com that Abbott is in advanced talks with Exact Sciences, a company in Madison, Wisconsin. But the talks could slow down or may not happen in the end. The extra promotional text about AI stock-picking tools, but this is not related to the Abbott–Exact deal.

FAQs

Q1. Why are Exact Sciences’ shares rising today?

They jumped after reports said Abbott may buy Exact Sciences and the takeover talks are moving forward.

Q2. What is Abbott planning to buy from Exact Sciences?

Abbott is in talks to acquire Exact Sciences, the company that makes the colorectal cancer test Cologuard.