Regeneron Acquires 23andMe for $256 Million Amid Bankruptcy
Regeneron Pharmaceuticals is set to acquire 23andMe for $256 million, promising to uphold customer privacy and data protections.
Regeneron Pharmaceuticals to buy 23andMe for over $250 million
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The rise and fall of 23andMe
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Overview
Regeneron Pharmaceuticals has agreed to buy 23andMe for $256 million post-bankruptcy, ensuring uninterrupted operations and strong privacy commitments. 23andMe's asset sale occurred following financial struggles, including a data breach affecting 6.9 million users. Regeneron committed to safeguarding customers' genetic and health information while leveraging this data for drug discovery. The sale, involving a court-appointed overseer to monitor data use, is expected to finalize by the end of Q3 2025. 23andMe expressed satisfaction with the deal, emphasizing continued customer protections and employment for its staff.
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Analysis
- Regeneron Pharmaceuticals has agreed to acquire 23andMe for $256 million as part of the company's bankruptcy proceedings, with plans to prioritize customer data privacy and comply with existing policies.
- The deal raises concerns about the future handling of the genetic data of 15 million customers, especially in light of past data breaches that exposed personal information.
- The acquisition will allow Regeneron to enhance its drug discovery processes using the genetic data from 23andMe while assuring customers of their privacy rights.
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CBS News·1M·FAQ
23andMe faced financial struggles, including a significant data breach affecting 6.9 million users, which contributed to its bankruptcy and subsequent asset sale to Regeneron.
Regeneron has committed to safeguarding customers' genetic and health information, ensuring uninterrupted operations, and maintaining strong privacy protections, with a court-appointed overseer monitoring data use.
The acquisition is expected to be finalized by the end of the third quarter of 2025.
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