Will Roche Holding (RHHBY) Stock Be Helped By Seragon Pharmaceuticals Purchase?

NEW YORK (TheStreet) -- Roche Holding Ltd.  (RHHBY) will pay up to $1.725 billion to buy Seragon Pharmaceuticals, a privately-held, San Diego-based biotech company that researches breast cancer treatments, Reuters reports.

The company was spun out from Aragon Pharmaceuticals in 2013 when that company was bought by Johnson & Johnson  (JNJ), Reuters noted.

Roche Holding shares closed slightly lower at $37.29 yesterday.

Must Read: Warren Buffett's 25 Favorite Growth Stocks


RHHBY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

J&J Enters Death Penalty Debate, Protests Use of Drug in Lethal Injection

Biotech movers: CEL-SCI Leaps After FDA Lets Cancer Study Move Forward

Roche Lifts Full-Year Outlook After Solid Q2 Earnings Beat

China Was Right to Walk Away From Failed U.S. Trade Talks

Roche Expands Into App-Based Digital Health With mySugr Deal