Regeneron Pharmaceuticals Announces Plan to Purchase 23&Me for $256 Million

Regeneron Pharmaceuticals on Monday announced plans to purchase genetic testing company 23andMe for $256 million.

The New York-based drugmaker is set to take over 23andMe after winning a bankruptcy auction for the ailing firm, Regeneron said.

Regeneron plans to “continue all consumer genome services uninterrupted,” the company noted in a statement.