Navigation Links
FTC Grants Early Termination of Waiting Period Under Hart-Scott-Rodino Act
Date:2/7/2011

SAN DIEGO, Feb. 7, 2011 /PRNewswire/ -- Genoptix, Inc. (Nasdaq: GXDX) announced today that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act") applicable to the cash tender offer by Novartis to purchase all outstanding shares of common stock of Genoptix at USD$25.00 per share.

The termination of the HSR Act waiting period satisfies one of the conditions necessary for the consummation of the tender offer. The tender offer is scheduled to expire at 12:00 midnight, New York City time, on Friday, February 25, 2011 (which is the end of the day on February 25, 2011), unless the tender offer is extended. Consummation of the tender offer remains subject to other customary conditions, including the tender of a majority of the outstanding shares of Genoptix's common stock, determined on a fully diluted basis.

About Genoptix, Inc.

Genoptix is a specialized laboratory service provider focused on delivering personalized and comprehensive diagnostic services to community-based hematologists and oncologists.  Genoptix is headquartered in Carlsbad, California.

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Genoptix.  The tender offer for shares of Genoptix described in this press release commenced on January 28, 2011.  Novartis has filed a tender offer statement on Schedule TO with the Securities and Exchange Commission (the "SEC") and Genoptix has filed a solicitation/recommendation statement on Schedule 14D-9 with the SEC.  Genoptix stockholders and other investors should read these materials carefully because they contain important information, including the terms and conditions of the tender offer.  These materials and any other documents filed by Genoptix or Novartis with the SEC may be obtained free of charge at the SEC's website at www.sec.gov and by contacting Genoptix Investor Relations at 800-881-3100.  In addition, investors and stockholders are able to obtain free copies of the documents filed with the SEC on Genoptix's website at www.genoptix.com.  Investors and stockholders are urged to read the Schedule TO, the Schedule 14D-9 and the other relevant materials before making any investment decision with respect to the tender offer.

Statements in this press release that relate to future results and events are forward-looking statements based on Genoptix' current expectations regarding the tender offer and transactions contemplated by the merger agreement. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. There can be no assurances that a transaction will be consummated. Other risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, if at all, Genoptix may not satisfy one or more closing conditions; that the merger agreement may be terminated; and the impact of the current economic environment, fluctuations in operating results, market acceptance of Genoptix' services, and other risks that are described in Genoptix' Annual Report on Form 10-K for the year ended December 31, 2009, in its most recent Quarterly Report of Form 10-Q and in its subsequently filed SEC reports. Genoptix undertakes no obligation to update these forward-looking statements except to the extent otherwise required by law.


'/>"/>
SOURCE Genoptix, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. US FDA Grants Orphan Drug Status to Immtechs Pafuramidine for Treatment of African Sleeping Sickness
2. Chinese SFDA Grants Immtech Fast Track Status
3. Ethics Group Asks USAID Inspector General to Investigate Legality of Grants to Soros Groups
4. NTMir Announces Research Grants for Epidemiology and Household Water as Source of Infection
5. FDA Grants Approval to Extend U.S. Enrollment and Clinical Trial
6. FDA Grants Priority Review for Daiichi Sankyo, Lilly Drug, prasugrel
7. FDA Grants Priority Review for ACIPHEX(R) (rabeprazole sodium) sNDA for Short-Term Treatment of GERD in Adolescents
8. FDA Grants Priority Review for PROMACTA(R) (eltrombopag)
9. FDA Grants NeoVistas Request to Expand CABERNET Trial to 30 Sites in the U.S.
10. FDA Grants Market Clearance for the LipiScan(TM) Coronary Imaging System Developed by InfraReDx, Inc. - A Novel Spectroscopy System for the Identification of Lipid Core Containing Plaques of Interest in the Coronary Arteries
11. FDA Grants Pediatric Exclusivity for TOPAMAX(R), Extending the Marketing Exclusivity by Six Months
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... N.C. , Feb. 12, 2016  Clinical Affairs leaders at ... presence in emerging areas of the world. While some companies have ... lag in their clinical activity in countries such as ... China and India ... market products in those countries. --> China ...
(Date:2/12/2016)... 2016   National Community Pharmacists Association (NCPA) ... the following statement today in response to the detailed ... Centers for Medicare & Medicaid Services (CMS) and conducted ... and others: patient advocacy organizations and ... the full CMS analysis. Our initial reaction is that ...
(Date:2/12/2016)... 12, 2016  This month,s issue of the ... takes an in-depth look at various causes and consequences associated ... drug spending, which has generated significant public outrage and ... Laura E. Happe , PharmD, MPH. --> ... PharmD, MPH. --> In 2014 prescription drug ...
Breaking Medicine Technology:
(Date:2/13/2016)... ... February 13, 2016 , ... Good ... the first in the area to offer AngioPlex™ Optical Coherence Tomography (OCT) Angiography, ... such as macular degeneration, diabetic retinopathy, and other vascular conditions. , In just ...
(Date:2/13/2016)... ... , ... Hidden Cypress in Sun City is the place to be on March 3rd to ... Weniger will be hosting this educational seminar from 5:30 p.m. – 7:00 p.m. Exciting ... pricing on offers. In addition, prizes will be given away and light refreshments will be ...
(Date:2/13/2016)... California (PRWEB) , ... February 13, 2016 , ... Valentine’s ... landing a date for the big day. A great outfit, flawless hair, and a ... they might as well resign themselves to a night at home with Rover. (Actually, ...
(Date:2/13/2016)... Washington, D.C. (PRWEB) , ... February 13, 2016 ... ... joined with Faces and Voices of Recovery, the leading national organization representing the ... paper urging candidates for public office to include Family Recovery in policies addressing ...
(Date:2/13/2016)... ... February 13, 2016 , ... Many individuals looking to lead a ... multitude of reasons. IsoPasta by Isolator Fitness has delved into this niche allowing ... without the high-carb repercussions. IsoPasta has 30 grams of protein and only 7 ...
Breaking Medicine News(10 mins):