Regeneron Pharmaceuticals announced its acquisition of genetic testing company 23andMe for $256 million after the latter filed for bankruptcy protection. The deal includes access to 23andMe's customer base and genomics service, aiming to utilize the data for drug discovery while prioritizing ethical considerations and privacy. This acquisition comes in the wake of 23andMe's significant customer data breach and intense scrutiny over data handling practices. Despite this tumultuous backdrop, Regeneron is positioned to ensure regulatory compliance regarding customer data protection. The bankruptcy court will oversee the final approval of the acquisition.
Regeneron's acquisition of 23andMe aims to leverage customer data for drug discovery while ensuring ethical handling of sensitive genetic information.
Amid bankruptcy, Regeneron secures 23andMe's genomic assets, emphasizing the importance of customer privacy and compliance with data protection laws in its operations.
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