(Reuters) -Swiss pharmaceutical company Roche is considering divesting cancer data specialist Flatiron Health, the Financial Times reported on Wednesday, citing people familiar with the matter.
Roche had paid $1.9 billion for New-York based Flatiron Health in 2018 to speed its development of cancer medicines and support its efforts to price them based on how well they work.
The pharmaceutical company is now working with Citigroup to assess options for Flatiron, including divesting the business or selling part of the company to a partner that could help run the business, the FT report added.
Roche, Flatiron, and Citigroup did not immediately respond to Reuters’ requests for comment on the report.
Flatiron, once backed by Alphabet, taps into data on individual cancer cases to help doctors select promising approaches for their patients. It also stores billing data, doctors’ notes and related information.
The report on Roche mulling divesting Flatiron comes after the drugmaker last month raised its full-year earnings forecast driven by strong demand for newer drugs such as its eye medicine Vabysmo.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Varun H K)
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