Information Provided By:
Fly News Breaks for November 2, 2018
PACB, ILMN
Nov 2, 2018 | 08:21 EDT
Leerink analyst Puneet Souda believes that Illumina's (ILMN) deal to acquire Pacific Biosciences (PACB) "plugs an important gap" in the company's portfolio, expands its overall market opportunity and removes some competitive overhangs. While noting that the transaction is likely to be dilutive in the near-term, Souda sees the potential for a complete sequencing solution longer-term following the acquisition of Pacific's technology and believes there are no antitrust concerns since there is no overlap in the two companies' technologies and application base. Souda maintains an Outperform rating on Illumina.