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SAN FRANCISCO -- The J.P. Morgan Healthcare conference kicked off this morning and there's already news to report: A takeover proposal from Sequenom(SQNM Quote), corporate updates from Vertex Pharmaceuticals(VRTX Quote), Human Genome Sciences(HGSI Quote) and Cubist Pharmaceuticals(CBST Quote), and new hepatitis C drug data from InterMune(ITMN Quote).
Genetics test maker Sequenom made an unsolicited, all-stock $41 million offer to acquire Exact Sciences(EXAS Quote), a struggling maker of a genetic test to detect colon cancer.
The Sequenom proposal, announced Friday night, values Exact Sciences at $1.50 a share, a 51% premium to the stock's Friday close of 99 cents. ...
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