Illumina landed squarely on Karen Finerman’s trader radar Wednesday with the company in the cross hairs of a hostile bid from Roche.
The Swiss drugmaker offered $5.7 billion in cash to acquire Illumina in a move that could boost the profile of gene sequencing in every day medicine.
Gene sequencing allows researchers and physicians to better predict which patients are likely to respond to a particular drug and is considered by some to be the future of medicine.
Illumina is a market leader in the sequencing machines that give details on an individual's genome.
Strategists says their products would nicely complement Roche's world-leading position in cancer drugs, which are increasingly being developed with companion diagnostic tests to determine the best fit with patients.