Roche bought Ignyta cancer drug maker

Roche Holding AG bought Ignyta cancer drug maker for US$1.7 billion to strengthen a range of drugs using gene therapy to kill the growth of cancer tumors. The Swiss pharmaceutical giant will buy U.S. cancer drug maker specialists for US$27 per share premium for about 74 percent at the closing share price on Thursday.

"Cancer is a very complex disease and many patients suffer mutations that are difficult to detect and treat.The agreement with Ignyta is based on Roche's strategy to expand and strengthen the oncology portfolio globally," said Roche's head of drugs, Daniel O'Day.

Ignyta will continue operations in San Diego and will be responsible for the very important entrectinib. U.S. company it has a series of drugs in its early stages of development that use gene therapy to kill the underlying disease that promotes the growth of cancerous tumors.