Illumina Inc, facing a hostile takeover bid by Swiss drugmaker Roche Holding AG, was sued by Columbia University on Monday for alleged infringement of five patents related to DNA sequencing. The lawsuit was filed in the U.S. District Court in Wilmington, Delaware. Illumina representatives did not immediately respond to calls seeking comment.Earlier Monday, Roche extended its $5.7 billion cash takeover bid for Illumina, which considers the offer "grossly inadequate."Illumina makes machines that decode a person's entire genome. Acquiring the company would give Roche a leading position in the market for gene sequencing, which could help better identify which patients might benefit from using particular drugs.
Shares of ILMN remained unchanged at $50.46. In the past year, the shares have traded as low as $25.57 and as high as $79.40. On average, 3192010 shares of ILMN exchange hands on a given day and today's volume is recorded at 0.
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