MGI to Divest Complete Genomics to Swiss Rockets AG for $50 Million

MGI has announced its decision to sell its entire stake in Complete Genomics to Swiss Rockets AG for approximately $50 million. Bloomberg posted on X, highlighting this strategic move as part of MGI's broader business realignment. The transaction is expected to enhance MGI's focus on its core operations while allowing Swiss Rockets AG to expand its portfolio in the genomics sector. The deal underscores the ongoing consolidation in the biotechnology industry, as companies seek to optimize their assets and strengthen their market positions.