According to Reuters
, Roche has no plans to resume its pursuit of Illumina after its hostile bid for the gene-sequencing firm failed. Chief Executive Severin Schwan made this announcement in an interview on Sunday, Reuters reports.
"We are constantly looking at the market, and will concentrate on smaller and mid-sized acquisitions," Schwan was quoted as saying in the Swiss publication Sonntag.
Roche effectively walked away from a $6.8-billion offer for Illumina in April, saying a higher offer would not be in the interests of its own shareholders.
Reuters writes that Roche will also invest "an undisclosed sum in its own gene sequencing research, which is technology Illumina has that would have helped Roche in its bid to develop targeted patient therapies."