North suburban-based Abbott Laboratories announced a $21 billion deal Thursday morning to acquire Exact Sciences, the maker of Cologuard — its largest acquisition in a decade.
The deal will allow Abbott — which makes medical tests, baby formula and continuous glucose monitors, among other products — to enter the cancer testing space. Exact Sciences focuses on early cancer detection and personalized treatments, and is perhaps best known for making Cologaurd, an at-home colon cancer screening test.
“Exact Sciences’ innovation, its strong brand and customer-focused execution are unrivaled in the cancer diagnostics space, and its presence and strengths are complementary to our own,” said Robert B. Ford, chairman and Abbott CEO, in a news release. “We’re excited to bring Exact Sciences’ people and know-how into Abbott so that together, we can take on the global challenge of cancer.”
Exact Sciences is expected to generate more than $3 billion in revenue this year, and once it joins Abbott, Abbott’s diagnostics sales are expected to exceed $12 billion a year.
The deal is expected to close in the second quarter of 2026, pending regulatory and shareholder approval. Abbott’s stock was down 1.7% Thursday morning after the deal was announced.
More to come.
